What can we help you find?
Enjoy home equity loan rates as low as 6.79% APR1
Take advantage of tax-deductible options
(Just be sure to consult your tax advisor to confirm.)
Borrow up to 90% of your home's value
Relax with local service and digital signing options virtually anywhere
Tackling ongoing projects instead of one big renovation? Consider a revolving line of credit to cover a variety of different expenses instead – all with a lower rate than most credit cards!
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Subtract the current mortgage balance(s) from the present market value to estimate the equity (net value) you have in your home. You can also try out our helpful home equity calculator!
Great question! Loan-to-Value (LTV) is the amount owed on an asset compared to the value of the asset. For example, if the loan amount is $80,000 and the house value is $100,000, the loan-to-value is: $80,000/$100,000 = 80%.
Good question! We offer loan terms from five years to 30 years, depending on the loan type and loan amount.
The best fit for you will depend on your individual needs. You could utilize our helpful calculator to assist your decision, or a member of our lending team can explain the features and benefits of both programs to help you decide!
It may be! It’s best to ask your tax consultant about possible tax advantages.
There are no prepayment penalties on any of our personal loans or lines of credit. You can pay as much as you’d like above your scheduled payment at any time!
Repayment of a home equity loan requires that the borrower makes a monthly payment to the lender. That monthly payment includes both repayment of the loan principal, plus monthly interest on the outstanding balance. Loan payments are amortized so that the monthly payment remains the same throughout the repayment period, but during that time, the percentage of the amount that goes towards principal will increase as the outstanding mortgage balance decreases.
Learn about special low rates for home remodeling and repairs in partnership with towns across ND and MN, available annually from March to October.
Not quite sure which loan is right for you? Come on over! Stop by to chat over coffee, or give us a call.
1 Other terms and conditions may apply, and rates are subject to change. An appraisal at borrower's expense may be required.
2 Applications must be submitted October 1 – December 31, 2024. Other terms and conditions may apply. Offer not valid on Gate City Bank lines of credit. An appraisal at borrower’s expense may be required. The closing cost discount will be reflected on closing disclosure.
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