Bank of American Fork
Put your home-equity to work for you.
Homeowners with greater than 25% equity may qualify for a home-equity loan or line of credit in which the home serves as collateral.* The borrowed money—up to 75% the value of the home—can be used for any lawful purpose, such as to consolidate debt, make home improvements, pay for medical expenses, or as a backup in case of emergencies.
Bank of American Fork's home equity loans is closed-ended (like a typical home mortgage), while our home-equity lines of credit are open-ended, revolving lines of credit (similar to a credit card). On our home-equity lines of credit, interest is charged only on the portion of your credit line that is outstanding, and you may draw money from your loan or pay down the balance as much as you like at any time during the term.
To see how much you qualify for, just use this simple calculation:
Home value x 0.75 = Loan value
Loan value – home mortgage balance = Max. loan amount
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Expansion within Utah began in the 1970s when the Bank's second branch was built in Alpine. The 1990s saw full-service branches constructed in Highland, Orem, Lehi, Pleasant Grove and Spanish Fork. With the new century came new branches in the Salt Lake Valley, including locations in Draper, Sandy, Murray and Riverton. Most recently, a Saratoga Springs branch opened in Utah Valley, a Layton branch opened in Davis County, and another branch opened in St. George, bringing the total number of Bank of American Fork branches to 14.
Member FDIC. Equal Housing Lender.