HOME EQUITY LINE OF CREDIT
Achieve Your Dreams by Using the Value of Your Home
 The smart idea to acquiring lower interest rates on loans may be
right at your doorstep.  

When you purchased your home, you were making a wise investment.  Now owning your home has become even more attractive.  In spite of changing tax laws and rising tax rates, mortgage interest remains tax deductible while other forms of consumer interest, such as credit cards and auto loans, are not.

That means home equity financing can offer you a cost effective way to borrow money.  The equity you have built up in your home can be used to finance anything from home improvements to cars, vacations, or education expenses. Generally, you can deduct the interest on loans secured by the equity in your home, as long as the total amount of the home equity and mortgage debt does not exceed the market value of your home.  Now, that's a smart idea!

A home equity line of credit can give you all of this plus a ready source of funds that is just a phone call away.

Features:

  • Line of credit secured by equity in home

  • Interest rate is adjustable monthly based on National Prime Rate

  • Loans up to 90% of home value less prior liens

  • Loan commitment in 48 hours or less

  • Payment is deducted automatically on 15th of month from your HSB account

  • Flexible repayment terms

  • Advances available for 5 years, up to 10 years to repay

  • Borrower simply contacts bank to request advance

Benefits:

  • Interest may be tax deductible (borrower should consult tax advisor)

  • Proceeds can be used for any purpose (vacation, car purchase, debt consolidation)

  • Line of credit available at any time, no need to sign documents or come in to bank once home equity line of credit is set up

Advantages:

  • Interest rate is lower than typical credit card interest rate (alternative forms of financing) 

Interest Only Home Equity Loan

Home Equity Loan

Contact our loan experts, Charles Willms, Ron Raney or Blaine Lenz to apply for your Home Equity Line of Credit.

At Hampton State Bank, we're working smarter for you!

 

Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What that means for you:  When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.  We may also ask to see your driver's license or other identifying documents.