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Equity Line of Credit
Community Trust & Banking Company offers two Home Equity Line of Credit (HELOC) products to serve your borrowing needs. You may access available funds as often as needed by simply writing a check. Balances may be repaid and then reborrowed later. A Community Trust HELOC is perfect for personal expenses such as vacation, Christmas, education, and debt consolidation; and interest may be tax deductible (consult your tax advisor).
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Regular Plan
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No Closing Costs Plan
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Annual Percentage Rate (APR)
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Wall Street Journal Prime rate, * to which a margin may be added based on several factors including credit score |
Wall Street Journal Prime rate, * to which a margin may be added based on several factors including credit score |
Maturity Term
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5 years
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5 years
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Payment
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Interest monthly with balance due at maturity |
Interest monthly with balance due at maturity |
Annual Fee
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$50
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$50
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Closing Costs
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Estimated to be $300 - $1500 depending on the amount of your line |
Paid by Community Trust **
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Minimum Advance & Minimum Advance Term |
None
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$10,000 initial advance must remain outstanding for the first 6 months |
Maximum APR
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24%
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24%
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Community Trust & Banking Company is dedicated to giving our customers all the benefits that come with a community bank. Local loan decisions, local folks, expert banking knowledge, experience and our complete slate of products make us the total package that you expect from your bank. Call us at 238-1111 or email (link) us for more information.
* Currently 7.50%. This information is accurate as of 11/1/2007 and is subject to change after that date.
** Community Trust may not pay all closing costs costs for loans in excess of $100,000. Contact a loan officer for specific details. |
