Home Equity

Home Equity - Borrowing - Minnesota Personal BankingBorrowing against the equity on your home can be a smart financial move.  Use a home equity loan to consolidate debt, purchase a vehicle, remodel your kitchen, or take a vacation.  These loans offer low rates and can be tax deductible (based on your tax situation).

Benefits of a Home Equity Line of Credit (HELOC):

  • Borrow & repay the money within your approved credit limit
  • Access your line of credit with checks, in person, by phone, or through Internet banking
  • Use funds to take your dream vacation, pay college tuition, for debt consolidation or home improvements

Requirements for a Home Equity Line of Credit (HELOC):

  • Interest payments are required at the beginning of each month
  • Rate varies as the prime rate changes
  • Subject to approval

Benefits of a Home Equity Loan:

  • All of the money is advanced at one time
  • Ideal for debt consolidation or a specific purchase
  • Payments fixed for length of the loan

Requirements for a Home Equity Loan:

  • Fixed monthly payments
  • Subject to approval
Call or visit us today at one of our convenient locations. We will answer all your questions and help you with a loan that is perfect for you!
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