Home Loans Home Equity

Home Equity

Use the Equity in Your Home to Your Advantage

You've built equity in your home, so why not put it to use? A home equity line of credit (HELOC) from Mayville State Bank allows you to get additional cash and manage your finances using the equity of your home. The flexibility of a home equity line of credit gives you the ability to draw on your HELOC whenever you want for whatever your needs.

The Power of a Home Equity Line of Credit

A Mayville State Bank lender can help you decide if a home equity line of credit is right for your unique financial situation. If you decide a HELOC fits your needs, there are numerous great benefits. Aside from the additional financing you will also receive:

  • Lower interest rates- home equity lines of credit offer lower rates than most credit cards and other unsecured loans, so you pay less interest on the credit you use.
  • Fast and convenient- get the approval you need quickly with Mayville State Bank's simple loan application process.
  • The ability to consolidate- a home equity line of credit allows you to consolidate your higher interest debt for a lower monthly payment.
  • Potential tax savings- the interest you pay may be tax deductible (consult your tax advisor for further information regarding the deductibility of interest and charges).
  • Additional benefits- other features of a HELOC at Mayville State Bank include no annual fees, low monthly payments and large credit limits.

$150 Off Processing Fee for a Limited Time Only*

* Residential property only, 1-4 unit owner occupied, modular homes, and owner occupied secondary homes. Borrower is responsible for separate payment of taxes and insurance. Not available for purchase transactions. Required monthly payment is calculated as 1.00% of the outstanding balance. A balloon payment may result.  Minimum advance amount of $100. No annual fee. The Line must remain open for at least 18 months to avoid payment of a $50 closing fee. Other closing fees can include but are not limited to appraisal or internal evaluation, loan processing fee, title policy fee, and recording fees, Subject to MSB credit approval and underwriting terms and conditions.

Rates and programs subject to change without notice. Property insurance is required. If the collateral is determined to be in an area having special flood hazards, flood insurance will be required as well. You must have verifiable income.

Please consult your tax advisor regarding the deductibility of interest. Some restrictions may apply.

Discounted Fee Offer expires 3/31/2021.

Contact a Lender at Mayville State Bank today!