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Home Equity Lines of Credit & Loans

If you need money for home improvements, college tuition or debt consolidation, look no further than First Bank of Highland Park for an outstanding Home Equity Line of Credit. We offer an interest rate of 1.00 percent above prime for credit lines of $100,000 or more, with no closing costs or fees. It's easy, too; you simply write a check. We also offer excellent rates on our Fixed Rate Home Equity Loans that can be an advantageous way of borrowing larger sums of money. Call a First Bank of Highland Park Personal Banker and we'll gladly help you determine which type of home equity alternative is best for you.

Home Equity Lines of Credit
You can use your Home Equity Line of Credit for the following:

 

Line Amount Index Rate Margin Annual % Rate Floor
$1.00-$99,999.99 3.25% Prime +1.25% 4.50% 4.50%
$100,000-$500,000 3.25% Prime +1.00% 4.50% 4.50%

 

The Home Equity Line of Credit is tied to the Prime Rate published in the Wall Street Journal. The term of the line is 7 years. The current Prime Lending Rate as of 03/8/2010 is 3.25%. Rates are variable and will change according to the Prime Rate. All home equity lines of credit are subject to credit, income and home value verification. Fees may apply for lines in excess of $500,000. The maximum Annual Percentage Rate is 18%. The minimum Annual Percentage Rate is 4.50%. (APR = Annual Percentage Rate). This is a limited time offer which may be withdrawn at any time. Consult with your tax advisor regarding deductibility of interest. Rates are subject to change. Early termination fees may apply.

 

Home Equity Loans
First Bank of Highland Park is pleased to offer Fixed Rate Home Equity Loans.

Fixed Rates: Term in Months Rate
  24-60 7.00%
  84* 7.50%

 

*15 Year amortization available, which results in a balloon payment.

 

Please contact a Personal Banker for more information on Home Equity Loans and Home Equity Lines of Credit.


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