Frequently Asked Questions
What is a home equity loan?
A home equity loan allows you to borrow a fixed amount, secured by the equity in your home. You may even receive your money in one lump sum and deduct it from your taxes.
How do I determine how much I can borrow?
The amount you can borrow is based on the current equity you have in your house, as well as your credit score and location. Fill out an application, or ask one of our knowledgeable staff members to help determine how much you qualify for.
How do I figure out how much equity I have?
You can quickly estimate your total equity by determining your home’s market value, and subtracting the amount of debt you currently owe on your home.
How can I better manage my household budget?
A few small changes can make a big difference in your monthly expenses. During the loan process, we can help to reassess your current spending and put you back in charge of your money.
What can I use an MFC home equity loan for?
A home equity loan can hep cover a variety of expenses, including a wedding or similar life events, a new vehicle purchase, tuition expenses and even medical bills.
Carmelita C. Gogue
Vice-President & General Manager
Tel: (671) 646-5011
Marianas Finance Corporation: NMLS ID#1252420