Reliant Bank Mortgage Services, is proud to announce a new consumer
literacy and education brand – Control Your Equity (www.controlyourequity.com).
Control Your Equity provides consumer literacy and education
about a first-lien home equity line of credit (HELOC) now available in
most states. A HELOC is a loan set up as a line of credit that can be
drawn from up to a certain dollar amount and has a draw period during
which you can use it like a checking account, usually 10 years. This is
followed by a repayment period of typically 10 to 20 years. Control
Your Equity offers completely free education about the HELOC product
in a low-pressure environment.
“A HELOC can be a valuable tool for paying off your mortgage and
building wealth, yet many consumers don’t know about the pros and cons
of using this financial product in home financing,” says Tim Conklin,
LPO Manager at Reliant Bank Mortgage Services. “Control Your Equity
walks consumers through high-level education about HELOCs, typical
qualifying needs, and digs deeper into the details through explainer
videos and testimonials from other consumers who have benefited from
this financial approach.”
In addition to learning more about whether a HELOC could help consumers
pay off their home, complete a home upgrade or renovation, finance a
college education, travel more, and save more money for retirement,
users also have the option to download a free eBook that offers further
details about the HELOC product and its benefits, including potential
access to equity, payment flexibility, and how it may be used to build
wealth. The eBook also includes information on strategies used and
specific examples for consumers who want to contrast a HELOC with a
traditional mortgage loan. “We’ve focused on providing guiding
principles to give consumers a fair and honest product assessment while
providing further educational material,” says Conklin.
For users who want a more customized evaluation, the site’s HELOC
calculator helps consumers compare their current traditional mortgage to
the HELOC product by calculating their individual scenario for benefit.
The calculator also produces a report that shows the potential impact on
an individual’s savings using graphic visuals.
“Consumers can also take part in a HELOC Adventure Experience where they
enter basic information about their financial situation and goals and
request further information from one of our HELOC specialists,” says
Conklin. “Because everyone’s financial picture is different, a HELOC
originator can talk in more detail about the product, answer questions,
and inform on specific scenarios and advanced automation options. This
conversation is designed to help consumers make educated decisions about
applying.”
“The information found in Control Your Equity typically costs
consumers hundreds to thousands of dollars in online courses that’s now
available for free. We believe that providing this material to consumers
honors our core value to ‘Grow Together’ while improving knowledge about
this unique product and building trust in what we do,” says Jackie Weed,
VP of Mortgage Operations with Reliant Bank Mortgage Services. “We hope
consumers find this site a valuable resource where they’re able to
increase their financial literacy and education – and potentially
improve their financial situation.”
About Reliant Bank Mortgage Services
At Reliant Bank Mortgage Services, home is our foundation. Our mortgage
professionals have extensive experience providing the best mortgage
options for our customers whether they are in the market to buy a new
home or just want to lower their monthly payment. Founded in 2006,
Reliant Bank Mortgage Services is a division of Brentwood,
Tennessee-based Reliant Bank serving the Middle Tennessee market as well
as markets nationwide.
About Reliant Bancorp and Reliant Bank
Reliant Bancorp, Inc. is a Brentwood, Tennessee-based bank holding
company which, through its wholly owned subsidiary Reliant Bank,
operates banking centers in Davidson, Hamilton, Hickman, Maury,
Robertson, Rutherford, Sumner, and Williamson counties, Tennessee.
Reliant Bank is a full-service commercial bank that offers a variety of
deposit, lending, and mortgage products and services to business and
consumer customers. As of March 31, 2019, Reliant Bancorp, Inc. had
approximately $1.8 billion in total consolidated assets, approximately
$1.3 billion in loans, and approximately $1.5 billion in deposits. For
additional information, please visit our website at www.reliantbank.com.
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