Home Equity Loans
Your Needs Are Diverse…
Whether you're renovating, paying for tuition or buying an appliance,
your home investment makes an excellent resource for additional funds.
Call Charter National Bank today to identify your options, or read this
user-friendly loan tutorial below.
Our Solutions Are Many: Charter Bank Home Equity Loans.
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Charter Preferred
Home Equity Line of Credit
Rates 1% Below the Prime Rate for a Full 10 Years!
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BELOW PRIME
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APPLY NOW,
IT’S EASY!
It’s easy to apply for your Home
Equity Line of Credit. Simply click here to apply online. Don’t
wait, this is a limited time offer. This offer is for New Home
Equity Line of Credit customers only. If you are unable to use
this, please do a friend a favor and pass it on. If you have any
questions, please contact us at 847-882-1000.
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5.00*APR
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1.00% below prime
for the life of the line*
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Click
Here to Apply |
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Preferred Home Equity Line of Credit Features |
- No appraisal fees or closing costs!
- Tax deductibility!**
- 10 Year term
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Preferred Home Equity Line of Credit Rates |
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1% BELOW PRIME ON ANY LINE AMOUNT
OTHER OPTIONS AVAILABLE |
With our preferred Home Equity Line of Credit, you
can borrow from $5,000 to $300,000 with interest rates as low as
1% below prime for 10 years. Please
consult with our professional banking staff to discuss other
options that may be available.
If you’ve been considering applying for a Home Equity Line of
Credit or if you already have a higher interest rate loan, call
Charter National Bank today and ask
about our Preferred Home Equity Line of
Credit. We think it’s the best Home Equity Line around!
Many Uses
It’s one of the most versatile lines of credit
available. Use it to expand or remodel your home, buy a new car,
pay for college expenses or consolidate debt. Whatever your
purpose, this is one of the lowest cost loans available… and there
are other benefits, too.
Potential Tax Savings
For example, if you’re paying interest on credit
card balances or a car loan it’s not usually deductible from
federal income taxes, while home equity interest payments usually
are (check with your tax advisor)**. By paying off other loan
balances and consolidating them into our Home Equity Line of
Credit, you can lower your interest expense and perhaps save even
more with a tax deduction.
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* This is a special offer with a
rate of 1.00% below the prime rate. For the Variable Rate Home
Equity Line of Credit, the Annual Percentage Rate (“APR”) is a
variable rate based on the highest “Prime Rate” as it is published
in the “Money Rates” section of The Wall Street Journal from time
to time. For Example, on January 30, 2008 the Prime Rate was 6.00%,
resulting in an APR of 5.00% . The minimum APR is 5%, the maximum APR is 18%. While you
may close your account at any time, all accounts closed within the
first 12 months will be assessed a $350 early termination fee. A
$25 annual fee applies after the first year. There are no other
fees required to open this account. Adequate property insurance is
required. Flood insurance may be required. This is a limited time
offer. Offer applies to owner occupied residences located in the
Chicago Metropolitan area and is for new Home Equity Line of
Credit customers only.
**You should consult a tax advisor regarding the deductibility of
interest and charges under the plan.
Revised 2/1/08 |
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Home Equity Lines of Credit
Whether your home mortgage is paid in full or not, this is an
attractive loan with interest rates that may be tax deductible - see your
tax expert for details. Charter Bank clients use our Home Equity Lines of
Credit for a variety reasons:
Home Loans 101
Ready to learn about getting a home loan? This user-friendly primer
will explain the loan solutions available to you.
The Home Equity Line of Credit
If you are already a homeowner, the equity in your home can be used for
a revolving line of credit so you have the option of using this money if
and when you need it. Be sure to check out Charter National Bank's low
rates on Home Equity Lines of Credit!
Potential Uses
- Debt consolidation¾pay off higher interest credit card bills or
car loans with one lower interest rate payment.
- Home improvement/renovation.
- Medical bills.
- New construction, such as a room addition, on your home.
- Buying new appliances.
- Buying a new car, truck, boat or RV.
- Paying education expenses.
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Benefits
- Simply write a check or call us to have the funds deposited into
your checking account.
- Pay interest only on the amount you borrow.
- Tax Advantages: The interest you pay on this loan may be tax
deductible. Consult your tax advisor for more information.
- You pay no points.
- Automatic Loan payments are available at no charge.
- Repay borrowed funds at your convenience.
- Replenish your credit line as you repay the borrowed funds.
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The Home Equity Term Loan
This loan allows homeowners to use the equity in their home to borrow
an exact amount of money and have a fixed monthly payment. Be sure to
check out Charter National Bank's low rates on Home Equity Term Loans!
Potential Uses
- New construction, such as a room addition, on your home.
- Renovating your home.
- Buying new appliances.
- Buying a new car, truck, boat or RV.
- Paying education expenses.
- Vacations.
- Debt consolidation
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Benefits
- Tax Advantages: The interest you pay on this loan may be tax
deductible. Consult your tax advisor for more information.
- No points.
- Automatic Loan payments available at no charge.
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