Home Equity Line of Credit
Put your home ownership to good use. With a Monroe Bank & Trust Home Equity Line of Credit, you can use the equity you’ve been building in your home to get credit… and make a variety of purchases.
Features and Benefits
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Borrow up to 85% of the equity in your home.
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An extremely affordable financing option -some with interest-only payments for up to 10 years.
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Fast turnaround times mean you don’t have to wait to make your purchases.
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Use for a variety of purchases: cars, boats, recreational vehicles, home furnishings, loans, lawn and garden, bill consolidation and more.
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No loan processing, application, or appraisal fees; and no annual fee if you have three additional MBT accounts.
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Convenient, easy to use debit card!
Please contact the mortgage department for current rates/terms. Important Disclosures
Call an MBTeam loan professional today at 734-242-2204 to learn more.
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Minimum credit limit is $5,000. Credit limit is based on loan-to-value ratio and credit qualifications. No closing costs on loan amounts of $100,000.00 or below. An annual fee of $75.00 is charged at the beginning of each year beginning in the 13th month. An early termination fee of $250 will be charged if closed within 24 months. Property, title, and/or flood insurance, if applicable, is required. Consult your tax advisor about the deductibility of interest.
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