Open the Door to More Possibility.

Have a large purchase, remodel, or home improvement project coming up?

You can use the equity you have in your home to help pay for these expenses. Our Home Equity options are great for planned and unplanned expenses, and you don’t have to use the money on your home. Costs of some large one-time expenses can be difficult to cover using savings alone.

 

Popular ways to use your home’s equity:

  • Home Repairs or Improvements
  • Debt Consolidation
  • Education Costs
  • Emergency Expenses
  • Vacations
  • Weddings and more

Get Started

Benefits of Home Equity Loans and HELOCs

Flexibility

Home Equity Loans offer flexibility to get the funds you need, when you need them. You can tackle that home improvement project, planned or unplanned expense, and more.

Great Rates and Low Closing Costs

We offer great rates.1 Plus, no application fee or origination fees.2

Local Loan Servicing

At AllSouth, we service all of our mortgages and home equity loans for the life of the loan. When you have questions, you’ll be able to speak to one of our local mortgage experts.

Two Great Home Equity Options

Home Equity Loan

  • One-time lump sum at the beginning of the loan with monthly payments that won’t change.
  • Fixed interest rate.1
  • Low closing costs.2
  • 6 year and 12 year terms available.
  • Borrow up to 85% of your home’s current value minus any existing first mortgage balance.

Home Equity Line of Credit (HELOC)3

  • Revolving source of funds, much like a credit card, that you can access as you choose.
  • Funds available for use as things come up.
  • Low closing costs.2
  • Borrow up to 85% of your home’s current value minus any existing first mortgage balance.

What's the Difference Between a HELOC and Home Equity Loan?

HELOCs are revolving credit (like a credit card) that come with variable interest rates and have variable minimum payment amounts. A HELOC may be a better option if you want some flexibility. You get to choose how much or how little of your credit line you use, and only pay interest on the money you borrow.

Home Equity Loans come with fixed payments and a fixed interest rate for the term of the loan. A Home Equity Loan could be a better option if you need funds in a lump sum for a large project. It could also be beneficial for securing a lower fixed rate that could potentially save you money in the long run.

 

Still have questions? Our team is happy to help you with your home equity options.

Apply Online in Minutes

Ready to take the next step and apply for a Home Equity Loan or Line of Credit?

Step 1

Complete Your Application

Easily complete your application online. If you have questions along the way, give us a call and a mortgage expert will be happy to help.

Step 2

Speak with a Team Member

One of our experienced mortgage experts will reach out to you to discuss your application and answer any of your questions.

Step 3

Start Using Your Home's Equity

Once approved, you can start enjoying the benefits of your Home Equity Loan or Line of Credit.

Voted Best Mortgage Bank

 

We’ve been voted “Best Mortgage Bank” in Columbia seven years in a row by the readers of Columbia Metropolitan Magazine. Whatever your home buying or home equity needs are, rest assured, we’re with you every step of the way including the servicing of all mortgages for the life of the loan. Our team of mortgage experts is ready to assist you.

Meet the Team

Ask Our Mortgage Experts

Home Improvement Tips

Best Time to Tackle Those Home Improvement Projects

Getting ready to start knocking some projects off your home improvement list? It seems like the list is never-ending, and the projects always end up costing more than you budgeted for.

Read More

Home Improvements That Can Increase the Value of Your Home

Whether you’ve been inspired by Chip and Joanna Gaines’ latest “Fixer Upper” transformation or by the DIY home improvement project pins that flood your Pinterest feed, you know it can be overwhelming when deciding on which home projects to tackle first.

Read More

Should You DIY or Hire a Pro for Your Next Home Project?

With more time at home, you may be considering a few home projects. When tackling a home project, many times, it will be less expensive to do it yourself because you’re not paying for the labor cost.

Read More