Home Equity Loans
Get Cash On the House!
What have you been wishing for that you’d like to have? A spacious new addition to your home? Perhaps an RV or boat? A down payment for a second home? The ability to pay off debt? College or private school tuition for your children...or for yourself?
If you own your home, you may be sitting on all the cash you need to make those dreams a reality. First National Bank gives you a way in which you can turn the equity of your home into readily available cash:
Both a Home Equity Loan or a Home Equity Line of Credit offer you the ultimate flexibility for your borrowing needs. For additional information or to make application, please call or visit any of our convenient offices today. First National will provide a prompt response to your request...and you can begin to enjoy the financial benefits of your home’s equity.
The interest expense on your home-equity plan may be tax deductible; please contact your tax advisor regarding the tax deductibility of the interest.
Tax Deductible Interest Payments*
If you itemize your tax deductions, you know that Uncle Sam allows
for precious few deductions, except for the interest paid through your
home mortgage. A Home Equity Line of Credit is among the few personal
loans that afford you the opportunity to deduct the interest for
income tax purposes.
Please consult with your tax adviser regarding deductibility of
interest.
Consolidate Your Debts Into One Easy Payment
If you have existing credit card balances, installment loans or finance company notes, you can pay off those debts with your Home Equity Line of Credit. There's also a good chance you can reduce your interest rate and your monthly payment!
Home Equity Line of Credit
If you need ultimate flexibility for your borrowing needs, First National Bank can offer you a Home Equity Line of Credit for up to 90% of the equity in your home. Apply just once...and when you are approved, you can simply write yourself a loan using a special convenience check. Use your line of credit for whatever you want, whenever you want it! As with a credit card, you'll receive an easy-to-understand monthly statement that itemizes all of your account activity. You can pay the entire balance owed...or you can make a minimum monthly payment. It's your decision.
Other benefits of a First National Bank Home Equity Line of Credit are:
- ATTRACTIVE INTEREST RATES - Lower than the interest rates you would pay with most credit cards or installment loans!
- NO ANNUAL FEE
Applying For Your Line of Credit...Just follow these steps:
- You will need to provide the approximate market value of your home and the balance owed on any mortgage on your home.
- Call or visit any First National Bank office for assistance in determining the best option for you.
- Submit an application
First National will provide a prompt response to your loan request...and you can start enjoying the financial benefits of your home's equity!