Holiday Closing - Columbus Day
Our offices will be closed Monday, October 12, for the federal holiday, Columbus Day.
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Projects Financed with Your Home
Turn your home into a smart way to pay for college, remodel the kitchen or purchase a vehicle. National Exchange Bank & Trust’s home equity loans, including a line of credit, make it easy.
Homeowners can use the equity in their house to make a purchase for any reason. Try one of our easy-to-use loan calculators to estimate your loan needs.
- The interest may be tax deductible. (Consult your tax advisor.)
- Since the line of credit is pre-approved, you can receive funds easily and quickly.
- Payments are structured to best meet your needs and are made easy through electronic banking.
Online Loan Applications
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 does this mean for you? When you open your account, we may ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask for your driver’s license information or other identifying documents.
Home Equity FAQs
What is the difference between a Home Equity Loan and a Home Equity Line of Credit (HELOC)?
A home equity loan provides a lump sum with fixed payments, making it ideal for one-time expenses. A home equity line of credit (HELOC) allows you to access funds as needed, which works well for ongoing or variable costs.
For a more in-depth comparison, check out our blog, Using a Home Equity Loan for Home Improvements.
What can I use a home equity loan or HELOC for?
Funds from a home equity loan or HELOC can be used for home improvements, debt consolidation, education expenses or other major expenses.
Which is better: a home equity loan or a HELOC?
The best option will depend on how you plan to use the funds. A home equity loan is often better for one-time expenses, while a HELOC may be a better fit for projects where the total cost is unknown and ongoing or flexible spending needs.
