Search Our Site:

Home  |  Locations  |  About Us  |  Investor Relations  |  Careers  |  Contact Us

 

Home Equity Lines of Credit & Loans

Features

• Secure funds for home improvements, college tuition or an urgent situation, by borrowing against the equity in your home
• Fixed- and variable-rate options
• Application process is quick and streamlined
• Total of Merchants Bank first and second mortgages up to $400,000
• Primary mortgage may be with another bank
• Property insurance is required
• You may incur fees to third parties such as appraisers, credit reporting firms, attorneys and town clerks; these third-party fees generally total between $100 and $500
• Borrowers and properties must meet Merchants Bank qualifying and credit eligibility requirements

Benefits

• Interest may be tax-deductible (see your tax advisor for details)
• For a limited time, we are offering a $195 credit toward closing costs

Home Equity Loans

• Get a lump sum up front
• Pay back the loan monthly, just as you would a car loan or a personal loan

Home Equity Lines of Credit

• No initial draw requirement
• Access credit line with checks
• Each month, you are required to pay the interest on any funds you have borrowed
• Pay off the principal as you see fit, until the loan is due in-full at maturity
• Use the credit line as overdraft coverage for your Free Checking for Life® Account

 

Today's Rates

Home | Rates | Personal Banking | Business Banking | Wealth Management | Banking Security | FAQs & Resources |
| Locations | About Us | Careers | Investor Relations | Contact Us

Copyright © 2007 Merchants Bank      Toll-free: 800-322-5222       Privacy Policy  |  Site Map

Site Designed and Engineered by PostScript, Inc