Compare Home Loans

Take a look at all of our home loan options

Find a home loan that can help you achieve your next goal.

	Home improvement loan	Home equity line of credit	Home equity loan
Intended use	Home improvements	Your choice	Your choice
Interest rate	Fixed	Variable	Fixed
Time to receive funds	Typically by next dayD	Average of 35 daysD	Average of 35 daysD
Collateral required	icon: sys-close	Secured by 1st or 2nd deed of trust	Secured by 2nd deed of trust
Terms	Up to 84 monthsD	25-year term: 10-year draw period and 15-year repayment period	Up to 15-year fixed rate termD
Repayment options	Principal + interest	Interest only or principal + interest	Principal + interest
Closing costs and origination fees required	$75 origination fee	Closing costs and no origination fee	Closing costs and 0.50% origination fee
Continuous access to funds	icon: sys-close	icon: sys-checkmark	icon: sys-close
Tax deductible interestD	icon: sys-close	icon: sys-checkmark	icon: sys-checkmark
	Learn more about home improvement loans	Learn more about a home equity line of credit	Learn more about home equity loans

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Subject to credit approval.

One home improvement loan per customer.

Some restrictions apply.

Terms and conditions subject to change.

Account openings and credit are subject to bank approval.

Metropolitan Commercial Trust Bank checking account is recommended. Property insurance is required. Title insurance and flood insurance may be required.

Consult your tax advisor regarding the deductibility of interest.

Annual Percentage Rate (APR) is 5.75% as of January 11, 2023, to applicants for a fixed-rate home equity loan amortized over 60 months. APR is based upon a rate of 5.54%, an origination fee of 0.50%, closing costs of $150 and a loan-to-value up to 85%.

For example: A home equity loan with an amount financed of $100,000 at a 5.54% fixed rate and including a 0.50% origination fee and $150 in closing costs would have an APR of 5.75% and you would make 60 payments of $1,912 and pay total interest of $14,718.

For example: A home improvement loan with an amount financed of $50,000 at a 5.86% fixed rate and including a $100 origination fee would have an APR of 5.99% and you would make 36 payments of $1,518 and pay total interest of $4,645. Current APRs range from 5.95% to 7.37% APR. Loans are available in the amounts of $10,000 to $75,000. Terms lengths of up to 84 months available.

Disbursement of loan funds requires an approved application, signed loan agreement and customer's funding preference. Funding should generally be completed on the same day or next business day once the application is taken. Approval process may take longer if additional documents are needed. Availability of funds may take longer if funds are deposited into an account at another financial institution.

Disbursement of funds based on open date for the loan and follows all approvals and required documentation.

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Bank deposit products are offered by Metropolitan Commercial Trust Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.