HELOC
Remodeling? Taking a vacation? Purchasing a new car? Starting a home business? No Problem!
Your home is your greatest asset - a Home Equity Line of Credit is the smart way to borrow. It's the checkbook that lets you use the equity built into your home anytime for anything. Simply write a check to access your funds. As you repay your principal, that money becomes available again. So you don't have to reapply. It gives you the flexibility to be your own banker. Your interest may also be tax deductible. Consult your tax advisor for details.
- Rate floats with Prime Rate with a floor of 5%*
- Loans up to 90% loan-to-value
- Closing costs paid on lines from $10,000 to $100,000
- 10 year maturity
- Option to term out a portion of your line of credit amortized up to 10 years
The professionals at Bank of Tennessee can show you the best ways to utilize the equity in your home and help you determine which home equity loan is right for you.
Have a Bank of Tennessee representative contact you today!
*The rate will adjust to the Prime Rate up to Prime Rate +6.00% depending on credit eligibility or 5.00% whichever is greater. The floor of 5% applies to "A" credit scores only. Prime Rate is stated in the Wall Street Journal and may vary monthly. Rate is subject to change. Maximum APR is 21%. There are no closing costs on lines between $10,000 and $100,000. Estimate on closing costs for lines less than $10,000 is $500. For lines over $100,000, estimate on closing costs is $1,500. This is a limited time offer. Subject to credit approval. Property insurance is required. Consult your tax advisor for deductibility. Line is subject to a $300 early payoff penalty if the line does not remain open for 2 years.
Equal Housing Lender