Fixed Rate Home Equity Loan

A home equity loan is a fixed amount at a fixed rate for a fixed period of time. The Provident offers loans for periods of up to 20 years. Depending upon how much equity you have in your home, you can borrow up to $500,000.00. Once the rate is set, you know what your montly payments are going to be for the entire term of the loan, and you are protected against a rise in interest rates. One of the principal advantages of this kind of loan is certainty. You know the amount of the loan, the duration and the rate, so you easily factor it into household financial planning.