Home Potential Equity Loan & Line of Credit
If you’re like most homeowners, your house is more than just your greatest asset – it’s the greatest way for you to get the money you need for just about anything, including home improvement, a new car, debt consolidation, college expenses, or a dream vacation.
Enjoy competitive interest rates for greater savings and possible tax advantages (check with your tax advisor).
As Peoples State Bank prepares to become Bank First, your local Mortgage Lender remains your primary point of contact for mortgage financing. Please reach out directly to start an application or discuss your financing needs.
Home Potential Equity Loan
You make a one-time choice on the amount you would like to borrow, close on the loan, and receive a check for the amount you’ve chosen.
- Borrow up to 100%* of the appraised value of your home (less the outstanding mortgage balance)
- Options to borrow up to 125%* of the appraised value of your home for qualified home improvement projects**
Home Potential Equity Line of Credit (HELOC)
You only have to apply for one loan, but then you can tap into the money as often as you want over a period of years. Use it for big purchases, recurring costs, or whenever you run into a bit of a budget squeeze.
- Borrow up to 100%* of the appraised value of your home (less the outstanding mortgage balance)
- Easy access to your funds
- Make payments only when you carry a balance
It’s easy to apply online, at a branch, or over the phone. You’ll need:
- Most recent 30 days of pay stubs
- Most recent 2 years of W-2 forms
- Other documents may be requested after the initial analysis