We know there are many reasons why people may look to use their personal residence as collateral for a loan.  These may include improvements to the home, large purchases, consolidation of other debt or numerous other personal needs.

BlackRidgeBANK offers financing options to take advantage of the equity you have built in your home or cabin.  Equity is either built through the reduction of mortgage balances or through the appreciation of the value of the property.

Home Equity Loans

A home equity loan advances you a single sum of money with a fixed interest rate, and typically provides predictable payments that include interest and principal over a fixed period. These loans offer the certainty of a fixed payment and interest rate over the life of your loan.  We assess your entire situation in order to make a recommendation.

The interest rate, repayment terms and costs to establish a home equity loan are dependent upon your unique situation.
 

Home Equity Lines of Credit

A Home Equity Line of Credit (HELOC) gives you the flexibility to borrow money as needed, up to the credit limit established when you open the line of credit with BlackRidgeBANK.  As you repay your outstanding balance, the amount of available credit is replenished, very similar to how a credit card works.

The interest rate is variable on HELOC products, however the flexibility to use the funds when you need them can reduce the borrowing costs over time.  Our standard HELOC product has a lifespan of ten years, which allows you to use the funds for a specific need now and possibly unknown needs in the future!

Our Promise to YOU
Working with a banker at BlackRidgeBANK is an opportunity to find a solution that is right for you, as we firmly believe that no two situations are the same and that is why we continue to make personal loan decisions every day.  We promise to make a personalized recommendation as we work for you!

Contact us today for more information! Contact Us

NMLS Institution #462995