Community Lending
The Equitable Bank has home lending options as diverse as our community. Whether you’re moving into your first home or just the next, our Community Lending Team is prepared to provide you with a program that suits your specific borrowing needs.
Community Loan Programs Featured:
Consider a WHEDA (Wisconsin Housing and Economic Development Authority) loan if you:
- Need a lower down payment option.
- Lower interest rate if you qualify.
Consider a My Community Mortgage loan if you:
- Have limited funds saved for a down payment.
- Have funds saved for the first month’s mortgage payment.
- Are interested in stable monthly payments.
- Need a variety of loan terms and down payment options.
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Government Loan Programs Featured:
Consider a VA (Veterans Affairs) loan if you:
- Are a veteran of the Armed Services, active duty, reservist or a spouse of a veteran.
- Need a no down payment option.
- Need easier qualifying requirements.
Consider a FHA (Federal Housing Administration) loan if you:
- Are a first time home buyer.
- Require less out of pocket cash up front than most conventional loans.
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First Time Homebuyer Program
There is nothing more fulfilling then having a place to call a home of your own. When you’re a homeowner you also reap the financial benefits that goes with it, including:
- Interest Deductions: You may be able to deduct the interest on your home loan, as well as the federal real estate taxes you pay each year. Contact a tax advisor for details on deductions.
- Equity: As the value of your property increases and you continue to pay down your mortgage, the equity you build up can be used for other purposes.
- Protection against inflation: Real estate has historically appreciated at a higher rate than inflation.
At the Equitable Bank, we have built our reputation on helping families in southeastern Wisconsin fulfill the dream of homeownership. Contact one of our mortgage lending professionals to begin making your dream a reality.
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Credit Builder Loan Program
The Credit Builder Loan from The Equitable Bank is designed to help people with no credit or people with credit problems to re-establish a positive credit history.
How Does It Work?
- Visit or call your nearest Equitable Bank. We’ll discuss your financial needs with you and determine if you need the Credit Builder Program or another savings program.
- We’ll lend you a set amount of money from $500 or more to put into a Certificate of Deposit (CD) in your name.
- You pay back the amount of the loan plus interest, in convenient monthly payments. We’ll help you decide how much you can afford to pay back each month.
- Meanwhile, when you open the Credit Builder, we will contact a credit bureau to have them establish a credit report in your name if you don’t already have a record. We will report to the credit bureau how you handle your loan payments each month. If you make your monthly payments on time you will continue to have a good credit rating.
Your Benefits...
- You will build a credit history.
- The Equitable Bank will report your monthly payments to the credit bureau. Your timely payments will be a positive reflection on your credit report.
- Equitable will help you find a savings plan that works.
- In reality, you’ve been saving money, and before you know it, you will have reached your goal.
- Earn high CD interest with the credit builder loan. Instead of paying interest, you’ll earn it.
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Meet Our Community Lending Team
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