- Most lenders allow you to borrow up to 85 percent of the value of your home.
- Competitive fixed interest rates and flexible terms enhance your ability to budget on a long-term basis, because principal, interest monthly payments and loan term is fixed.
- Potential tax deduction on interest paid, which can provide you with the opportunity to realize tax savings that would not be possible with other forms of credit. It is recommended that you consult with your tax advisor.
- Most lenders allow you to pay with an automatic deduction from your checking or savings account or by mail-in or walk-in coupon. This gives you the convenience of choosing how and when to pay.
- Some lenders, including KeyBank, offer extended terms that make it easier and more convenient to budget with lower monthly payments over a longer term.