Online Banking

Home Equity

Use the equity in your home for all sorts of projects—home improvement, debt consolidation, financing education, or making a large purchase! We offer two types of Home Equity: A fixed amount loan with a set term and payments; and a Home Equity Line of Credit: A revolving line which you can borrow and pay back as you need it.

HOME EQUITY LOAN

  • Loans up to 90% of the appraised value
  • $450,000 maximum
  • Up to 15 years to repay
  • Government/recording fees apply

For a Home Equity Loan we will need you to provide us with the following:

  • The current year real estate tax statement
  • Copy of Homeowners Insurance Policy Declaration Page
  • Last two years of W2’s along with two recent pay stubs. If self-employed, we need the last two years of corporate and individual income tax returns and a current year-to-date profit and loss statement.
  • Current mortgage statement, if you have a mortgage on your home
  • Current asset verification (401K/RSOP statements, 2 months of credit union and/or bank statements)

Call Peter at (218) 336-1810 or Jennifer at (218) 336-1820.

Set up an appointment about a Home Equity Loan.

HOME EQUITY LINE OF CREDIT

  • 5 year draw period; up to 15 years to repay
  • Loans up to 90% of the appraised value
  • $450,000 maximum
  • Adjustable rate (adjusts annually)
  • Government/recording fees apply

Call Peter at (218) 336-1810 or Jennifer at (218) 336-1820.

Set up an appointment about a Home Equity Line of Credit.