Home Equity Line of Credit

Do you own a home and need money for home improvements, education expenses, or a special vacation? Why not put your home to work for you with a Home Equity Line of Credit (HELOC) or Home Equity Loan. Check with your tax adviser for possible tax benefit.

HELOC (Home Equity Line of Credit)

A HELOC is an open-ended loan that allows you to draw on your funds when you need them. As you pay back the loan, that money in the line of credit becomes available again for future use without having to reapply. A HELOC is perfect for an emergency fund, last-minute projects, or paying large expenses like home remodeling projects, college tuition, or bill consolidation.

  • Rates as low as Prime minus 1%* (variable rate**)
  • Low closing costs***
  • Quick and easy application process
  • First 10 years you pay interest only
  • No annual fee
  • Borrow up to 80% of your home’s appraised value, minus outstanding mortgages
  • No prepayment penalty

* All loans subject to credit review and approval. Credit score 720 and above. Home must be owner occupied and primary residence.
** Rates and terms vary depending on loan-to-value, property type, and credit score. The applicable interest rate is indexed to the Wall Street Journal (WSJ) Prime Rate and is subject to change monthly. The interest rate will not exceed 18% or go below 3%. Home Equity Lines of Credit have a Draw Period and Repayment Period. During the Draw period, the minimum payment is interested only or 10-year amortized payment depending on product chosen. During the Repayment Period the payment is the principal balance amortized over a period of 10 years, which may increase the monthly payment previously due.
*** Closing costs are $395.00.


Our Piqua Branch is closed to walk-ins today. For an appointment please call 937-296-4037. Your December 2020 statement will include your 1099-INT tax form. This information is also reported to the IRS. No separate paper copy of the 1099-INT tax form will be mailed.Click here for information about the 2nd STIMULUS CHECK and other COVID-19 related information.
+ +