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 85% of the appraised value
- Competitive rates available in fixed or variable
- Amounts of $10,000 and up
- Flexible terms
- Easy application process
- Experienced lenders familiar with the local 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 +0.50%*
- 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
- Easy application process
- Experienced lenders familiar with the Ohio area housing market
- Efficient local processing
- Personalized service at every step
*The current Annual Percentage Rate Wall Street Journal prime rate plus 0.50%. 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.
