Loans
Home Equity Loans & Lines of Credit
Are you planning to buy a car, go on vacation, remodel your home, go to college, wanting to consolidate your debts...? Use the equity in your home to make these plans happen. Home Equity Loans or Lines of Credit can provide an excellent alternative to high interest rate consumer loans and credit cards. Under the existing tax laws, this may be the best borrowing option available to homeowners.  Contact one of our loan officers for more information.
Home Equity Line of Credit A revolving line of credit is based on the equity in your home. To access this line, simply write a check or call us and have the advance deposited into your personal account. As you repay the borrowed funds, you replenish the reserve that you can use over again. We will bill you for the amount of the interest and/or a portion of the principal as agreed to by you and your Loan Officer. Available funds can easily be accessed at your convenience and payments can be automatically deducted from your personal checking account. Home Equity Term Loan This loan is also based on the amount of equity you have available in your home. With this loan you work with your Loan Officer to determine how much equity you can access for a loan. You then set up a monthly payment schedule based on your income and equity. The interest you pay on the Home Equity Lines of Credit or this Home Equity Term Loan may be tax deductible. That determination should come from your tax advisor.