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Our First Flex Home Equity Line of Credit is a great way to take advantage of the equity you’ve built in your home! With First Flex you get the flexibility of a credit line and the security of a fixed rate loan. Lock in a low fixed rate on a portion of your outstanding balance. As you pay down the fixed portion, that amount automatically becomes available again in your line of credit.
With the First Flex Home Equity Line of Credit, you’ll enjoy ...
- The flexibility of a line of credit
- The security of a fixed rate & term
- Increased available credit as you pay down your fixed portion
- Fast & easy closings
Home Equity Loans
Fixed Rate Equity Loans are specific purpose loans, secured by the equity in the home of the borrower, paid over a predetermined term with a fixed interest rate.
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First Equity Lines of Credit
Equity Lines of Credit (First Equity) are interest only, open-end variable rate loans, secured by the equity in the home of the borrower, where you control when the money will be used and repaid. Funds are accessed by check, overdraft protection of any First National deposit account or transfer via our NetTeller (Internet banking) service.
View Current Rates
Determine the Equity in Your Home
To calculate the amount for which you qualify, multiply the value of your home by 80% for standard rates, or 95% for maximum borrowing, and subtract your present mortgage balance. See how much additional money you may borrow by using our 95% program over standard programs.
| Examples |
(A) |
(B) |
| Property Value |
$150,000 |
$150,000 |
| X's |
80% |
95% |
| Borrowable Equity |
$120,000 |
$142,500 |
| Less Present Mortgage |
$100,000 |
$100,000 |
| Amount Available |
$20,000 |
$42,500 |
Our 95% Loan-to-Value Program only applies to Owner-occupied residential real estate, and has a $50,000 maximum loan amount.
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