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Mortgage Equity Builder

Your home is one of the largest investments you will ever make. Likewise, your mortgage on your home may be the largest debt you encounter. Why carry your home debt well into your retirement years. With a Tioga Franklin Equity Builder loans you can free your home of debt, faster and save money while doing so!

Borrow up to 80% of the lower of the appraised value or purchase price, and if adding renovations, borrow up to the lower of 100% of the cost of renovations or 80% of the "as completed" appraised value.

Terms range from 60 to 144 months.

Loan applications are subject to normal underwriting and credit qualifications. Rates and fees are subject to change. All Equity Builder Mortgages require a priority first lien position on the property to be financed. Lender may require Lender's Title Insurance. Other conditions may apply.

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Benefits in choosing the Equity Builder:

Save interest! On a $250,000 mortgage you can save over $140,000.1

Building equity in your house. In 10 years when your Equity Builder Mortgage is paid off, you would still owe over $196,000 on a conventional mortgage, that's 79% of the original loan amount still owed.2

Good for purchases and refinances on both primary and secondary homes!

  • Loan Origination Fee: 0.00%
  • Document Preparation Fee: $500
  • Appraisal (Normal Range): $250.00 - $350.00 Construction/Renovation may be higher
  • Draw Processing and Inspection for Construction: $150.00 / Draw
  • Credit Report: $17.20 /per file
  • Flood determination: $17.00

1 Savings is over the life of the loan and assumes the difference between the current 10 year Equity Builder and the conventional 30 year mortgage.

2 Comparison is between a 10 year Equity Builder Mortgage and a conventional 30 year mortgage each starting with a principal balance of $250,000. For comparative purposes the Equity Builder Rate used was 2.75% with a monthly P&I payment of $2,385.28 for a total of 120 payment s of $286,233.09, compared to a 30 year rate of 4.00% with a P&I payment of $1,193.54 for a total of 360 payments of $429,673.77 .

Thinking about your dream home?

Our loan officers will guide you every step of the way.