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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.
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.
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.
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.
Funds from a home equity loan or HELOC can be used for home improvements, debt consolidation, education expenses or other major expenses.
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.
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