What a Discover Home Equity Loan will do for You
1The interest of any portion of credit greater than the fair market value of your property may not be tax deductible for Federal income tax purposes. You should consult your tax advisor regarding the tax deductibility of mortgage interest and charges.
2 If you live in a state that charges mortgage tax, you will be responsible to pay it at closing. The states are AL, FL, GA, KS, MN, NY, OK, TN and VA.
3 Your APR will be between 4.74% and 11.49% based on your creditworthiness at time of application. First lien position is required for 4.74% APR. For second lien position mortgages, your APR will be between 5.74% and 11.49% based on your creditworthiness at time of application. Discover Cardmembers receive an interest rate discount between .25% to .50%, lowering the APR between.25% to .50%.