- Enjoy the security of a ready line of credit
- Closing costs waived on amounts of $25,000 and up
- Amounts of $10,000 and up
- Draw what you need, when you need it
- Convenient, interest-only payment during initial draw period (10-year limited draw period)
- Annual fee waived the first year
For a home equity line of credit: Must be primary residence. Borrowers must meet qualification standards. Competitive rate based on Wall Street Journal Prime Rate.*
*The current Annual Percentage Rate Wall Street Journal prime. The 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 and the latest rate. 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.
Minimum amount financed of $10,000. 1-4 unit owner occupied properties only; property must be the owner’s primary residence. Full appraisal required. Property insurance on the subject property is required; flood insurance may also be required. ALTA title policy required if loan amount exceeds $200,000; borrower is responsible for all associated costs. 240 month term with 10 year draw period, during which the minimum payment shall be interest-only. After the draw period ends, any remaining balance is amortized over a 10 year repayment period. The second payment stream rate will be determined using the same margin and index as at loan origination and will be variable. Applicants are responsible for all costs incurred if the loan request is withdrawn prior to origination. Subject to credit approval. Rates, terms, and conditions are subject to change at any time based on market conditions and/or any other business factors.
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