BELLAIRE — Though it may seem far away, spring will be here in a few months and with warmer temperatures comes home improvement fever for many homeowners, and Belmont Savings Bank is ready to work with customers on their home equity goals.

Belmont Savings Bank currently offers a variety of home equity loans. Tapping into a home’s equity can be a good option for homeowners who are seeking low cost financing.

Homeowners often use the equity in their home to make improvements, which could potentially add value to the home.

"Home equity loans are typically needed for home improvement projects and can provide a safety net for unexpected expenses that may occur throughout the process," Belmont Savings Bank’s Vice President of Lending Mike Taylor said. "A home equity loan can help you create your dream kitchen or bathroom, and the improvements that you make can also increase the value of your home, which is important to note if you have plans of selling your home to upgrade or downside in the future."

Even if you have a mortgage payment, you can also explore your home equity options.

"If you already have a home loan, this would be a second loan, and you would be responsible for making both payments," Taylor said. "What borrowers will find is that the closed end property improvement loans are fixed rates meaning the payment will not change. The home equity line of credit is a variable rate with low payment options.

When it comes to paying off a home equity loan, repayment options vary and can be as long as 15 years if needed. The loan can also be paid off at any time.

Belmont Savings Bank also offers additional options such as conventional mortgage loans, refinance and debit consultation loans, and more. For more information on Belmont Savings Bank’s home equity options, you can contact any of their offices.

About Belmont Savings Bank

Belmont Savings Bank has been helping local residents with their financial needs for more than 125 years. With offices in Barnesville, Bellaire, Powhatan Point and St. Clairsville, Belmont Savings Bank offers checking and savings accounts, loans, online banking and more. Visit www.belmont-savings.com/ for more information.