Unlock the borrowing power in your home to
pay for your children's education, vacations, or home improvements,
with a Home Equity Loan or a Home Equity Line of Credit. Let
one of our friendly loan professionals give you the cash you
need with a competitive interest rate, convenient terms, and
an easy repayment plan to fit your budget. In most cases,
Home Equity Loans and Lines of Credit offer the added benefit
of tax-deductible interest.
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your family's future.
Home Equity Loans have a fixed rate and repayment
schedule and are written for a period of 5, 10, 15, or 20 years.
Your monthly payment remains the same throughout the life of the
loan. A Home Equity Loan is perfect for short-term expenditures
such as debt consolidation, new vehicles, or that dream vacation
you've always wanted. You can also use a Home Equity Loan to purchase
a vacation or second home.
Home Equity Lines of Credit are written for a term
of 25 years at a variable rate subject to change monthly based on
the Prime Rate.
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HOME
EQUITY LOAN
vs.
HOME EQUITY LINE OF CREDIT
Here are the main differences between
these two types of loans:
Equity Loan:
- Fixed rate of interest
- Fixed payment
- All funds advanced at closing
Equity Line of Credit:
- Variable rate of interest (tied to
Prime)
- You choose the payment (minimum payment
is interest only)
- Funds advanced simply by writing
a check as the need arises
NEW Country Convertible Equity Line of Credit:
- Easy application
- Option to convert all or a portion of account balance into a fixed-rate loan within the line
- Choice of fixed rate loan terms
- No need to reapply to fix your rate each time
- Interest may be tax deductible*
Still not sure which is right for you?
We can help guide you and offer suggestions regarding
what type of loan will work best for your particular
goals. Have one of our loan specialists contact you.
To view our quick and easy repayment
options, simply click here
to use our calculators.
*Consult your tax advisor about deductibility of interest
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 You receive a monthly bill for interest only and
principal repayment is up to you during the first 10 years of the
loan, allowing you the flexibility to structure principal repayment
to your individual budget. Lines of Credit can be used for debt
consolidation, tuition payments, home improvements and a variety
of other purchases. You have easy access to your funds by simply
writing a check.
Home Equity Lines of Credit are available for 1-4
family owner-occupied residences.
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Effective as of 08-19-2008
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Fixed Home Equity Loans
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Interest Rate
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Annual Percentage Rate
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Monthly Payment per $1000
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Equity Fixed 5 yrs
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6.500
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6.500
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$19.57
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Equity Fixed 10 yrs
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7.000
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7.000
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$11.62
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Equity Fixed 15 yrs
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7.250
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7.250
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$9.13
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Equity Fixed 20 yrs
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7.800
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7.800
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$8.24
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All rates are subject to change without
notice
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