Do you have equity in your home and need to borrow for some worthwhile purpose—home improvements, education or medical expenses, travel, debt consolidation, vehicle purchases, etc.? If your answer is yes, a home equity loan or line of credit may be for you. Both are second mortgages on your home, and offer a variety of options.
Our Home Equity Loans offer:
- A fixed rate of interest for the term of the loan
- Terms up to 10 years
- Stable monthly payments
- Programs available with no out of pocket costs
This type of loan often appeals to borrowers that have a specific borrowing need, know exactly how much they want to borrow, and want to repay the loan over time with a fixed monthly payment.
To apply, simply print out an application and bring in the completed forms to one of our seven convenient locations in McHenry County. You may also apply by phone by calling 866-314-BANK (866-314-2265).
For borrowers that don’t know exactly how much they want to borrow, or who would like to have a line of credit available for a variety of needs over time, our Home Equity Line of Credit fits many needs. A HELOC, as the home equity line is often called, provides:
- A variable rate of interest based on the Prime Rate
- 10-year terms
- Interest-only monthly payments
- No closing costs or fees
- A low, nominal annual fee of $50 to maintain the line for the term of the line of credit
If you are not sure which alternative might work best for you, call or visit one of our knowledgeable bankers for more details. To apply, simply print out an application and bring in the completed forms to one of our many convenient locations in McHenry County. You may also apply by phone by calling 866-314-BANK (866-314-2265).
Note: These products are offered through our affiliate, Home State Bank, NA.
You will need Adobe Acrobat Reader to view and print the applications.
If you do not have Adobe you can click the Adobe Icon below to download a free copy of it.
|