A First Option Bank Home Equity Line of Credit or Closed End Home Equity Loan allows you to borrow against the equity in your home and puts it to work for you! Use the money to make home improvements, pay for tuition, take a long-awaited vacation, buy a new car, or finance other major purchases!

• Home Equity Line of Credit
• Closed End Home Equity Loan

This is the home equity loan for you if you need some money now and will need more later.

• Low minimum monthly payment of 1% of the principal balance plus interest or $100, whichever is greater
• No closing costs*
• 10 year revolving term
• Interest rate is based on the loan amount
• Interest paid may be tax deductible**
• Monthly statements are mailed

* If the loan amount is under $50,000 and the loan-to-value is no more than 80%.
** Please consult your tax advisor.

This home equity loan option could add relief to your budget if you are planning a large purchase or are concerned about changing interest rates.

• Fixed interest rate
• 10 year term
• Fixed monthly payment
• Minimal closing costs
• Interest rate is based on the loan amount
• Interest paid may be tax deductible*

* Please consult your tax advisor.

Loan approval is subject to credit evaluation. Please see our home equity loan specialist at the location nearest you for further details.