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Home Equity

Put the equity in your home to work for you with a home equity loan or line of credit from First Bank of Berne. A home equity loan may be the financing option for you if you are looking to make a large one-time purchase or want to consolidate a specific amount of debt. Alternatively, stay financially flexible with a home equity line of credit. With a line of credit, you can borrow and repay on a revolving basis, giving you access to money you need for emergencies, large purchases, or the unexpected.

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Home Equity Loans

  • Multiple repayment terms available
  • Minimum closing costs
  • Utilizes equity in existing property
  • No PMI (Private Mortgage Insurance)

Home Equity Line of Credit

  • 10 year term
  • Low closing costs
  • 24/7 access to funds via on-line banking
  • Utilizes existing equity in your home
  • No PMI required
  • Interest only payments (only pay interest on what you use)
  • No annual fee & no prepayment penalty
  • Interest may be tax deductible (contact your tax advisor for details)
  • Can be used as overdraft protection on your First Bank of Berne checking account)