Home Equity Loans

Home Equity Loans

Achieving your dreams is easy with a little help from your magic lamp...and magic roof, and magic kitchen. In fact, with a home equity loan your whole house makes it easy to reach your goals.


Use the equity you have in your current home to get affordable financing. We offer one-time term loans to make your next big purchase, or a renewable line of credit to use here and there as you need it. Put your home to work for you!

Loans
  • Based on the value of your home
  • Use funds for most anything
  • Competitive fixed interest rate
  • Flexible repayment terms
  • Interest may be tax deductible*
  • Attention to personal service
  • Streamlined application process for quick approvals
  • Local decision making and processing
  • Easy online payment options through online banking or SameDayPay

*Consult your tax advisor.

Line of Credit

A home equity line of credit is the most flexible type of consumer credit offered. It is a second mortgage on your home, but similar to a credit card, it is a variable rate, revolving line of credit. This means you have a specific credit limit you can borrow at your discretion, and when you make payments your borrowing power is replenished up to your available credit limit.

  • Based on the value of your home
  • Use funds for most anything
  • Competitive variable interest rate
  • No service fees
  • Access funds easily as you need them
  • Pay interest on only what you use
  • Interest may be tax deductible*
  • Attention to personal service
  • Streamlined application process for quick approvals
  • Local decision making and processing

Easy online payment options through online banking or SameDayPay

*Consult your tax advisor.

FAQ

What is the difference between a home equity loan and a home equity line of credit?

Both home equity loans and lines of credit are mortgages on your home, but are typically chosen for different uses. An installment loan gives you the entire loan amount upfront and is often used for major purchases, like a car, or new appliances. The loan is simply repaid over a specific time period and you have no further access to additional funds.

A line of credit provides you a financial tool that you can use whenever you need it. Borrow as much as you need, up to your maximum credit limit, whenever you need it. Lines of credit are perfect for managing your monthly expenses, especially for large projects like home improvements, or in case of an emergency.

Why is home equity the best financing available?

Interest rates for equity loans and lines are typically lower than other forms of credit. This ultimately means a lower cost to you. Furthermore, the interest you pay on a home equity account may be tax deductible. Consult a tax advisor regarding deductibility of interest.

What can a home equity loan/line be used for?

A home equity loan or line is a great vehicle to finance anything. With low interest rates and potential tax deductibility, home equity is the smart way to pay for home improvements, education expenses, purchasing a new car, buying a second property, or consolidating higher interest rate balances.

SameDayPay

FNBT account holders can make a loan payment free of charge through our online banking system. But if you would like to make an electronic payment from a non-FNBT account, SameDayPay makes it easy.

This online solution is fast, easy, secure, and available 24 hours a day, 365 days a year. Make a payment immediately, set up payments in advance, or arrange for a recurring payment to be made automatically. SameDayPay provides an email confirmation so that you know your payment has been made. You can also monitor your transactions online. Our software allows you to see 120 days of history on all of your payments.

SameDayPay loan payments are credited to your loan on the same day as long as they are made before 4:30pm Monday-Friday. There is a $7.50 fee for each payment.