HOME EQUITY

Are there any prepayment penalties associated with a home equity loan?
There are no pre-payment penalties associated with a Tower home equity loan
Fri, 7 Feb, 2020 at 12:40 AM
Do I pay closing costs on a home equity loan?
Tower pays all closing costs that are associated with a home equity loan on your behalf as long as you retain the loan for 24 months or more. You will be re...
Fri, 7 Feb, 2020 at 12:40 AM
How do I apply for a home equity loan?
Apply online and receive an instant response or pick up an application from any branch. You can also call the Member Service Center at 301-497-7000 or 1-800...
Fri, 7 Feb, 2020 at 12:41 AM
How do I contact Tower regarding my loan application?
Call 301-497-7000 or 800-787-8328, ext. 7225 to be directed to your Consultant with any questions regarding your application. Or click here and provide your...
Fri, 7 Feb, 2020 at 12:41 AM
How do I contact Tower regarding servicing of my home equity loan?
Call the Member Service Center at 301-497-7000 or 800-787-8328 and ask for Loan Servicing
Fri, 7 Feb, 2020 at 12:42 AM
How do I settle on my home equity loan?
All documents will be mailed to your home address. Tower will provide a settlement date to you. Sign the documents in the presence of a Notary Public on or ...
Fri, 7 Feb, 2020 at 12:43 AM
Is the interest on a home equity loan tax deductible?
Your equity loan interest may be tax deductible. Consult a tax advisor for details
Fri, 7 Feb, 2020 at 12:43 AM
Is there a real estate loan that would enable me to buy a new house before I sell my existing property?
A Tower Bridge Loan helps you "bridge" the gap between selling your existing home and buying a new house. If your current home doesn't sell b...
Fri, 7 Feb, 2020 at 12:44 AM
What is the difference between a home equity loan and a home equity line of credit?
A home equity line of credit is a variable-rate open-end loan. It allows you to draw on your loan at your convenience with a 15-year draw period and a 15-ye...
Fri, 7 Feb, 2020 at 12:44 AM
What terms are available for a home equity loan?
Terms available are 5-, 7-, 10- and 15- year loans that range from $5,000 to $318,000, depending on the loan type
Fri, 7 Feb, 2020 at 12:45 AM