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PERSONAL BANKING - Fixed-rate Home Equity Loans

Unleash The Power Of Your Home
A Home Equity Loan from Oxford Bank is a great tool to help homeowners pay for renovations to their house, finance an education, take a vacation, or consolidate debt. We can help you tap the equity in your home to provide you with the buying power to pursue your dreams.

Our Home Equity Loan allows you to borrow a set amount with both a fixed interest rate and fixed term of re-payment. You may also be able to qualify for a discounted interest rate if you choose our automatic payment feature - just ask your loan officer. Unlike interest paid on other types of loans, interest on a home equity loan may be tax deductible, but consult with your tax advisor to be sure.

In addition, for the convenience of our customers, Oxford Bank offers a free checking account to all individuals who open a loan of $15,000 or more.

Home Equity Loan¹ Features and Benefits

No closing costs
No application fees
No points
No prepayment penalty
No annual fee
Multiple payment options
Automatic payment discount available²

¹Applicant must carry insurance on the property that secures a Home Equity Loan.
²Applies only to Oxford Bank accounts.

How Much Can I Borrow?

Oxford Bank will loan you money based on the equity you have in your home. This chart will give you an idea of how much money you could receive if you borrowed 80% of the value of your home.

Example Your Home

Estimate the value of your home $200,000 $ _______

Multiply by .80
(% of equity in your home) x .80 x .80

= $160,000 = $_______

Subtract your current mortgage balance -$100,000 - $_______

Amount of equity available $60,000 $_______

The application process is fast and easy and our rates are very competitive. Print out an application and bring it to any one of our branches and we'll get started.
All loans are subject to credit approval.

Learn the Basics of Credit Reports and Scoring

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT