Home Loans

Roll out the welcome mat.

Whether you are getting the keys to your front door or leveraging your hard-earned equity, home loans lead to some of our most memorable moments in life. Meet with our team and let's show you why we are the talk of the town.

Home Loans Tailored To You And Yours

From traditional home loans (aka mortgages) to home equity (life) lines of credit, home loans fulfill dreams. We're known for our friendly guidance, low low rates, creative underwriting, and low closing costs. If a new home or home loan is in your future, meet with our team and let us get you in the front door.

Mortgage Loan

There’s no place like your own.

Start collecting moving boxes! From a traditional home loan (aka mortgage) to a loan for buying land or building a house on land you own, we can fund your adventure — from here to your front doorstep.

Rapid Refi Loan

Ready. Set. Close.

Our Rapid Refi loan can help you save on interest and closing costs, and start building equity more quickly - in only 30 days or less.

Home Equity Line of Credit

Focus on what’s next, not your budget.

Whether you’re sending a child (or yourself) to college, finally building out that sunroom, or going somewhere a little more tropical, a Home Equity Line of Credit (often called “HELOC”, pronounced hee-lock) can help you balance big expenses with a lot of flexibility.

Home Equity Loan

Make yourself at home with fixed payments.

With your home's appraised value as collateral, our home equity loan offers fixed interest rates and fixed payment amounts for up to a 20-year term.

Homeowner Advantage Loan

Get settled, no equity needed.

If you own your home but don’t have a ton of equity just yet, you can still borrow the money you need with a Homeowner Advantage loan — no collateral required.

FAQ's

You've got the Q's, we've got the A's.

Still can find what you are looking for? Send us a text or give us a call at 931.431.6800 and we will be happy to help.

What is a Homeowner Advantage Loan?
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This is a loan designed for members who own their home, but don’t have a ton of equity just yet. It allows members with great borrowing history to access the money they need with no collateral required.

What is the difference between a Home Equity Loan and a Home Equity Line of Credit?
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The two biggest differences between a Home Equity Loan and a Home Equity Line of Credit are the types of interest rates for each loan and how one receives their funds. Home Equity Loans are fixed-rate loans and they are given to the member in one large lump sum. Home Equity Lines of Credit are variable rate loans and members receive access to a line of credit. They can borrow as much as they need without having to commit to a large lump sum.

What would I use a Home Equity Loan for?
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You could use this loan for home improvements, school tuition, debt consolidation, or any other reason. One of the greatest benefits of these loans is that they are flexible and can be used in a variety of ways to meet your needs.

What are the term lengths for a Homeowner Advantage Loan?
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This loan has flexible term lengths that extend up to 10 years.

Can I make additional payments on a Home Equity Loan?
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Yes! You can make additional payments on all Fortera Loans.

How much money can I borrow using a Homeowner Advantage Loan?
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With the Homeowner Advantage Loan, you can borrow as little as $5,000 and as much as $40,000.

Is the Home Equity Loan a fixed-rate or adjustable rate loan?
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This is a fixed-rate loan.

What type of loan is the Rapid Refi?
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The Rapid Refi is a fixed-rate personal loan designed for members who already have a mortgage and are looking to refinance quickly.

How long does it take to close a Rapid Refi loan?
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After a member has submitted all necessary paperwork to complete the loan, we strive to close these loans in under 30 days. If we cannot close the loan in under 30 days, then the closing costs ($299) are on us.

How much does it cost to close a Rapid Refi loan?
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We keep costs low and easy over here. It only costs $299 to close a Rapid Refi loan.

What is an adjustable rate mortgage?
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With most ARMs, the interest rate and monthly payment are fixed for an initial period such as three years, five years or seven years. After the initial fixed period, the interest rate can change every year. For example, one of our most popular adjustable mortgages is a five-year ARM. The interest rate will not change for the first five years (the initial adjustment period), but can change every year after the first five years.

An interest-rate cap places a limit on the amount your interest rate can increase or decrease. There are two types of caps:

  1. Periodic or adjustment caps, which limit the interest rate increase or decrease from one adjustment period to the next.
  2. Overall or lifetime caps, which limit the interest rate increase over the life of the loan.

As you can imagine, interest rate caps are very important since no one knows what can happen in the future. All of the ARMs we offer have both adjustment and lifetime caps. Please see each product description for full details.

I'm purchasing a home, do I need a home inspection and an appraisal?
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A home inspection is not required. You may obtain a home inspection, but it would be at your own discretion and the expense would be out of your own pocket.

How are interest rates determined?
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Interest rates are determined by a combination of your credit scores, loan to value ratio and product type.

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