Dallas-headquartered PrimeLending has added a new home equity loan product to its offerings.
The new loan product offers a fixed-rate repayment over a 30-year term. In announcing the product, the company pointed to Federal Reserve Bank of St. Louis data that noted how homeowners accumulated nearly $30 trillion in home equity as of Oct. 31, 2023.
“At PrimeLending, we offer homeowners more than just a mortgage – we give them a wide range of options, plus our expertise and guidance, to more confidently manage their personal finances,” said Tim Elkins, PrimeLending’s chief production officer. “Our new home equity loan affords homeowners the flexibility to tap into their home equity as an option to help them achieve their financial goals.”
PrimeLending is a wholly owned subsidiary of PlainsCapital Bank, which in turn is a wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH).
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