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Loans & Credit

Home Equity Loan

While you may think you have searched everywhere for the funds to finance that big expense, you probably have not searched your own home. Take out a home equity loan or line of credit and use the money you’ve paid into your home to fund major or unexpected expenses. Our mortgage officers will customize a loan that meets your needs, so you don’t have to empty your savings for home improvements.

Summary
  • Use home equity to fund purchases
  • Borrow up to 80% of the appraised value
  • Competitive rates available in fixed or variable
  • Amounts of $5,000 and up
  • Flexible terms
  • Easy application process
  • Experienced lenders familiar with the Canton Ohio area housing market
  • Efficient local processing for less red tape
  • Personalized service at every step 
Home Equity Line of Credit (HELOC)

Enjoy the security of having a ready line of credit for whatever financial hits come your way. Draw from your home equity to fund that big expense.

Features

  • Draw from home equity for ready financing
  • Borrowers must meet qualification standards
  • Must be primary residence
  • Competitive rates based on Wall Street Journal Prime Rate +0.74%*
  • Draw what you need, as you need it
  • Convenient interest only payment during initial draw period
  • 10 year limited draw period
  • Annual fee is waived the first year
  • No documentation fees
  • Easy application process
  • Experienced lenders familiar with the Canton Ohio area housing market
  • Efficient local processing
  • Personalized service at every step 

*The current Annual Percentage Rate (APR) of 3.99% is based on the Wall Street Journal prime rate (3.25% as of November 1, 2014) plus 0.74%. This APR varies with the Wall Street Journal prime rate. Your rate and corresponding APR may be higher than the advertised rate. Your rate will never be higher than 18%. Your loan request is subject to credit approval. Talk to a Consumers National Bank representative for details! Lines of credit are available only on owner occupied homes. Property insurance is required and flood insurance may be required. There is a $50 annual fee, which is waived the first year. There is an early termination fee of 2% of the line amount or a maximum of $500.00, if the line is paid off and closed within the first 36 months. Interest only payment during initial draw period.