Home Equity Loans Sedona AZ

While cash strapped homeowners sometimes struggle to make ends meet, our real estate has seemingly morphed into the local bank. We can tap into our home equity for everything from cars to vacations to college funds. Though tapping into your home s value is one of the smartest ways to borrow money, there are still drawbacks.

Bank of America - West Sedona Branch
(800) 432-1000
1771 West Highway 89a
Sedona, AZ
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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Wells Fargo - Sedona Branch
(866) 245-3452
2201 West Highway 89a
Sedona, AZ
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

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Harris Bank - Sedona
(800) 546-6101
2010 West 89a
Sedona, AZ
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM after 2 uses per month. This fee can be waived if you are a student. (Fee does not apply to all accounts.) (Not all accounts provide this fee waiver.)
ATM Fee Rebate Noe: Some accounts provide rebates of ATM Surcharge Fees. Contact Harris Bank for details.
Services
Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Unlimited Checks

Data Provided by:
Chase - Village Of Oak Creek Branch
(877) 682-4273
6666 Highway 179
Sedona, AZ
ATM Fees
monthly fee: Monthly service fees range from $0 to $35.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. (Fee does not apply to all accounts.)
Services
Mobile & Text Banking, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided by:
Chase - Cottonwood Branch
(877) 682-4273
1540 Highway 89a
Cottonwood, AZ
ATM Fees
monthly fee: Monthly service fees range from $0 to $35.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. (Fee does not apply to all accounts.)
Services
Mobile & Text Banking, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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Chase - Sedona-Southwest Drive Branch
(877) 682-4273
1300 W Highway 89a
Sedona, AZ
ATM Fees
monthly fee: Monthly service fees range from $0 to $35.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. (Fee does not apply to all accounts.)
Services
Mobile & Text Banking, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided by:
New York Community Bank - West Sedona Branch
(888) 550-9888
2785 West Highway 89a
Sedona, AZ
ATM Fees
monthly fee: Monthly service fees range from $0 to $5.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Unlimited Checks

Data Provided by:
New York Community Bank - Sedona Branch
(888) 550-9888
7000 Highway 179, Suite A-116
Sedona, AZ
ATM Fees
monthly fee: Monthly service fees range from $0 to $5.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Unlimited Checks

Data Provided by:
Wells Fargo - Cottonwood Branch
(866) 245-3452
1201 Sthy 89a
Cottonwood, AZ
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided by:
Bank of America - Cottonwood Branch
(800) 432-1000
611 South Main
Cottonwood, AZ
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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Home Equity Loans

While cash strapped homeowners sometimes struggle to make ends meet, our real estate has seemingly morphed into the local bank. We can tap into our home equity for everything from cars to vacations to college funds. Though tapping into your home s value is one of the smartest ways to borrow money, there are still drawbacks.

Moving Forward with Caution

Drawing on your home s equity is often suggested by financial advisers who show that the tax free interest you pay on a home loan is much lower than what you d pay on mounting credit card or consumer debt. However, it s possible to overdo it.

While there s no law that says you have to pay off your mortgage before your retirement, it s not always pleasant being left with home equity debt once you ve stopped working. On the other hand, if you retire with a healthy nest egg and lots of home equity, you ll limit your major expenses and have cash to fall back on.

Timing is Critical

The best way to access home loan financing while still retaining your retirement savings is to time the loan appropriately. Basically, you want to tailor the loan s end date to coincide with your expected retirement. You can shorten a loan s length significantly simply by adding $100 or $200 to your monthly payments.

Extra payments can also mean major returns. For example, let s say you take out a home equity loan with a 7 percent interest rate and you re in the 27 percent income tax bracket. After you figure in your mortgage tax deduction, you ll still bring in a 5.11 percent return just by making extra principal payments.

Consider the Advantages

On top of added returns and despite rising interest rates and retirement risks, home equity loans are still more advantageous than other forms of credit. They offer quick access to funds at a cost that s at least 5 percent less than a traditional low interest credit card. In addition, that interest is often tax deductible.

A second consideration when deciding between an equity loan and a line of credit are your monthly payments. Typically, home equity loans offer a fixed rate of interest and a steady monthly payment that s predictable. A home equity line of credit normally uses an adjustable interest rate that can go up and down with the changing market. So, if you prefer the stability of a steady rate, a home equity loan may be the better option for you.

Preparation Ahead of Time

Before you commit to a home equity loan, you ideally want to have owned your home long enough to build up equity, not be planning to move soon, have a stable employment situation and actually need the money that a home equity loan can give you. If you re using the funds to pay off credit card debt, don t let your consumer debt run back up during the ten or so years it will take you to pay back your equity loan.

Finally, make sure you can afford the monthly payments. Any borrowing, especially on a home, needs to be part of a total household plan and worked within your family s budget.

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