Overview
Bank of Bermuda’s Home Equity Options allow you to borrow funds against the equity you have accumulated in your home. Through a Home Equity Line of Credit or a Home Equity Loan you can borrow up to 40% of the available equity in your home to fund home renovations, buy another property, finance a child’s education or to purchase a variety of other items.
Home Equity Loan:
The option to borrow a specific amount for a particular purpose and provides the comfort of having fixed monthly payments.
Home Equity Loan features:
- No annual fee
- Terms of one to 10 years
- Variable interest rates
Next steps:
- Get a pre-approval
- Complete an application
- Call us on 299-5959, option 5
Need more information?
Home Equity Line of Credit:
The flexibility to access funds at your convenience for up to five years. A Home Equity Line of Credit operates in a similar fashion to a standard chequing account with an overdraft.
Home Equity Line of Credit features:
- One to five year revolving line of credit
- Variable interest rates
- Interest charged monthly to your account
- Principal payments can be made at any time
- Annual fee of $250
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