Unlocking Home Equity: Small Dollar Loans for Big Dreams

Are you looking for a way to tap into your home's equity without taking on a large loan? Our Small Dollar Home Equity Installment Loans might be the perfect solution for you.

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What is it?

A Small Dollar Home Equity Installment Loan is a type of loan often designed to be more accessible and manageable for borrowers who need smaller sums—such as for home repairs, debt consolidation, or unexpected expenses. These loans are designed to provide eligible borrowers with access to funds ranging from $5,000 to $25,000, secured by your single-family, owner-occupied, primary residential property.

Why is it useful?

This loan is great for homeowners who want to:

• Make home improvements
• Cover unexpected expenses without the burden of a large loan
• Consolidate debt (combine multiple debts into one)

Debt consolidation through home equity loans offers several benefits, including lower interest rates compared to credit cards and personal loans, a single monthly payment that simplifies managing multiple debts, and the potential to improve your credit score by paying off high-interest debts. Additionally, it provides financial peace of mind by reducing the stress of juggling multiple payments and helping you focus on a clear path to financial stability.

Key Features & Details:

• Loan Amounts: Borrow between $5,000 and $25,000
• Combined Loan-to-Value (CLTV) Ratio: Maximum borrowing limit is 85% of your home's value
• Fixed Interest Rates
• No Origination Fee: Enjoy the benefit of no additional fees to start your loan
• Credit Score Requirement: Minimum credit score of 620

Eligibility Criteria

To qualify for a Small Dollar Home Equity Loan, borrowers must meet specific criteria based on their location and household income. Here are the details:

• Eligible Kentucky Counties:
  • Boone, Bourbon, Bullitt, Campbell, Clark, Elliott, Fayette, Harrison, Jefferson, Jessamine, Kenton, Madison, Nelson, Oldham, Rowan, Scott, Shelby, Henderson, Warren and Woodford
• Eligible Indiana Counties:
  • Boone, Clark, Floyd, Hamilton, Hendricks, Johnson, Marion, Vanderburg and Scott
• Eligible Ohio Counties:
  • Hamilton, Butler and Warren

Eligible Properties

Eligible properties include owner-occupied primary single-family residences located within the specified counties. Ineligible properties include:

• Condominiums (generally ineligible but may be considered under specific conditions)
• Co-ops
• Manufactured housing not on a permanent foundation
• Mixed-use properties
• Unique properties (e.g., log houses, A-frames)

Ready to start the application process?

Please contact one of our CRA Mortgage Loan Officers to start the process.

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Income restrictions apply. All loans subject to credit approval. Terms and conditions subject to change. Speak to a CRA mortgage loan officer for details. 
SYB NMLS# 433971. Equal Housing Lender. Member FDIC.