 |
|
|
You can use the equity in your home to pay for a second car, college tuition, an addition to your home, to start a business, consolidate debt or to finance any special credit needs that may arise from time to time. Citizens offers Home Equity Loans and Home Equity Lines of Credit. Both offer advantages that suit specific individual needs and lifestyle.
Also known as a second mortgage is a good choice for a one-time planned expense or to consolidate existing debt. Borrowers receive the entire loan amount right away as a lump sum. The loan cannot be reused.
Interest rates have a low fixed rate and fixed payment which stay the same for the entire term of the loan.
There is no application fee and no closing costs on loans of $20,000 or more. A low origination fee will be charged.
Back To Top
A HELOC is a line of credit using the available equity in your residence as collateral. The greatest benefit is that you are charged interest only on the amount you use and as you pay back the principal, that money is available again and again.
A HELOC gives you the convenience to borrow money as needed, simply by writing a check, up to your credit limit. The line of credit is open for 10 years. A HELOC has a variable rate, based on the prime rate as published in The Wall Street Journal plus a margin.
Citizens also offers an Interest Only option. This product has a low introductory rate, with the ability to pay only the interest, which provides a much smaller monthly payment. This is a great option for customers with short-term demands on their finances.
There is no application fee, no closing costs and no annual fee for the first year. A low annual fee is incurred at the beginning of the second year.
Back To Top
For unplanned expenses up to $3,000, you’ll want to apply for Private Line, a personal line of credit that is connected to your checking account to provide overdraft protection. Whenever you have a major purchase or unexpected expense, just write yourself a loan to your approved credit limit.
Back To Top
|
|
|
 |
|
©2010 Citizens First National Bank. All rights reserved.
|
|
