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Home Equity Loans

With a home equity loan or line of credit, you can tap into the equity you have built up in your home to meet a wide range of different financial needs. 

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Home Equity Loans Comparison Chart

Use the chart below to compare the different home equity loans offered by FNCB side by side. This will help you decide which one is the best fit for you:

Product

Key Features

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Home Equity Term Loan

For the borrower who wants to borrow a specific dollar amount against the equity in their home.

Home Equity Line of Credit with Carve Out

A home equity line of credit that gives you the flexibility of a variable and fixed rate loan. It's your choice.

WOW Mortgage

For the borrower who has an excellent credit history and wants to be mortgage free in as little as 7 1/2 years.

Home Equity Term Loan

You may be able to borrow up to 89 percent of the equity in your home at a fixed rate, which gives you certainty with regard to your monthly payment amount.

Loan Features:

  • Flexible terms.
  • Fixed monthly payment.
  • Borrow up to 89% of the equity in your home.
  • Available for owner occupied primary residences, 1-4 family dwelling, vacation homes, townhouses and condominiums.

Recommended For:

  • Borrowers who need a determined dollar amount.
  • Borrowers who prefer a fixed interest rate.
  • Borrowers who need a stable monthly payment in order to stay within a set budget.
  • Borrowers who want to consolidate their higher credit card bills with a lower monthly payment.

Visit our Mortgage Home or stop by any FNCB Community Office to learn more!

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Home Equity Line of Credit with Carve Out

The FNCB Home Equity Line of Credit with Carve Out combines the convenience of a variable rate home equity line of credit (HELOC) with a "carve out" option that allows you to lock-in up to three simultaneous fixed rate loans without having to reapply. Simply draw the amount you need, how you need it, whenever you need it, and whatever you need it for.

Loan Features

  • Low rates.
  • Quick application and decision process.
  • 10-year draw period followed by a 15-year repayment period on variable portion.
  • Carve out up to three simultaneous fixed rate loans.
  • Borrow up to 89% of the equity in your home.
  • Interest only billing during the draw period.
  • No annual fee.

Carve-Out Option

Our Home Equity Line of Credit Carve-Out option allows you to convert a portion of your outstanding HELOC balance to a fixed-rate loan! For example, if you need money to buy a car, simply "carve out" the amount you need giving you predictable monthly payments and no worries about fluctuating interest rates!

  • $10,000 minimum carve-out loan amount.
  • Flexible terms.
  • As you repay the fixed-rate loan, your available HELOC balance is once again available to borrow.
  • $50 carve-out fee.

Visit any FNCB Community Office or call 1-877-879-3622 to learn more!

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Disclosure

All loans subject to credit approval. Consult a tax advisor regarding the deductibility of interest.

WOW Mortgage

If you have excellent credit history, you could be mortgage-free in as little as 7½ years. This loan features a fixed interest rate and stable monthly payment amount.

Loan Features:

  • Terms of 7½, 10, 14½, or 19½ years.
  • Fixed interest rate.
  • Borrow up to 80% of the equity in your home.
  • Available for owner occupied primary residences, 1-4 family dwellings, vacation homes, townhouses and condominiums.
  • Minimum loan amount of $25,000.
  • First lien position is required.
  • Escrow account available

Recommended For:

  • Borrowers with an excellent credit history.
  • Borrowers who wish to be mortgage free in as little as 7½ years.
  • Borrowers who prefer a fixed interest rate.
  • Borrowers who need a stable monthly payment in order to stay within a set budget.

Visit our Mortgage Home or stop by any FNCB Community Office to learn more!

START HERE REQUEST INFORMATION

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