Value in Your Home Loan
When you need financial assistance for anything from major purchases to emergency expenses, there can be no better source than the very place you call home. Home Equity Loans and Lines of Credit can turn the equity in your home into a powerful borrowing tool.
American State Bank offers two simple ways to take advantage of the equity in your home:
- Home Equity Loan — A traditional personal loan against the equity (or value) of your house, with planned monthly payments and a fixed-rate and term.
- Home Equity Line of Credit (HELOC) — This loan makes funds available at your convenience. Interest accrues only on the equity you are using. As you pay back the balance, those funds become available to use again. A HELOC is particularly convenient for people with variable incomes.