Home Equity Lines of Credit and Loans

Here are the advantages of a Home Equity Line of Credit:

  • A revolving line of credit is approved for a maximum amount and can be used and repaid repeatedly — Funds are available whenever you need them without going through the loan approval process over and over.
  • Funds are accessed by check. — Easy access to cash when needed. You don't need to contact the bank each time you want to make a draw against the loan. Use Online Banking to deposit funds into your checking or savings account and make loan payments.
  • Interest assessed on the outstanding balance — Interest is charged only on the actual amount advanced. You save money on this account compared to a conventional loan.
  • Lower rate than most other consumer loans, so you save money. Variable rates as well as fixed Rates for various time periods are available. Balloon payment will often result. Offer of credit is subject to credit approval.
  • Interest paid may be tax deductible (check with your tax advisor)
  • Once established, your home equity line of credit is there when you need it to use over and over again — You can improve your home, consolidate personal obligations and make major purchases like a new car, pay tuition or fund important investments.

If you need it, want it, desire it, or dream it, we want to help you get it!!

Not much equity in your home? Yes, we offer Home Equity financing options up to 100% of the property value of your home - contact us for details!

Home Equity Lines of Credit and Loan Information

Home Improvement Loans
Why Home Equity Loans & Lines of Credit?
Product Terms
Application & Approval Process

A Home Equity Line of Credit could open up a new world of financial independence for you. It's easy. By borrowing against the equity in your home, you create a line of credit that you control. For example: If you establish a home equity line of credit, you access these funds by simply writing a check. If you write checks for $2,500, you only pay interest on that amount. You still have funds available to use. Pay down your line and use these funds over and over again. It's that simple...like approving your own loan whenever you want.

Please complete an application and submit it to any of our offices. You can also call 728-3115 in Missoula, 827-7000 in Thompson Falls, 826-2000 in Plains, 363-3551 in Hamilton, 961-4466 in Corvallis, contact us or visit any bank office so you can say YES to yourself today!

Home Improvement Loans:

Apply for a Home Equity Loan or Line of Credit and make your home improvements. Purchase, re-finance or re-model a manufactured home.

You can borrow money to make your home improvements - even if you don't have equity to borrow against. It is an affordable fixed-rate second mortgage designed for home improvements, from finishing the basement to a new garage, from new windows and carpet to a new roof or patio - virtually anything that will add value to your home.

Home Equity Loan and Line of Credit

Why should you obtain a Home Equity Loan or Line?
One of the biggest advantages of a home equity loan or line compared to a vehicle or consumer loan is the possible tax deductibility of the interest paid on these loans -- consult a competent tax advisor.

A Home Equity Loan or Line of Credit is an agreement where the borrower(s) uses the equity in their home as collateral for the loan / line. Home Equity loans and lines are the most popular methods for consumers to finance home improvements, invest in more property, manage their personal cashflow, purchase vehicles or consolidate debt, and usually at a lower interest rate. Home equity loans are for a specific amount and are amortized / paid over a defined period of time. A Home Equity Line of Credit is a revolving line of credit accessed by Online Banking or through checks. You can make major purchases, pay off debt or use for any other purpose to manage your personal cashflow. Generally these loans and lines are the second mortgage on your residence, but can be a first mortgage, or possibly a mortgage on a second home or investment property.

Product Terms:
Home Equity Loans are available with a fixed interest rate or variable rate. Depending on the product, your monthly payments may be adjusted quarterly.

Most Home Equity Lines of Credit have a variable interest rate and are adjusted and indexed like the Home Equity Loans. Pricing for these lines varies by customer depending on the credit quality, the term of the line, and the line amount compared to the value of the home. We suggest the payments be automatically deducted from your checking or savings account with our bank each month. By doing so, you receive 1/4% discount on your rate.

Application and Approval Process:
Please complete an application for the loan or line and submit it to any bank office. We can usually "conditionally approve" a home equity loan or line within a day of receiving a complete application and other supporting documents. We may require an appraisal in certain situations.

Click here to use our new easy to use Online calculators, to help you solve some common financial problems. If you find these calculators useful, be sure to bookmark this page or suggest it as a link to your favorite home page or search engine.

Vehicle Loans
We offer lending programs to purchase or refinance a new or used vehicle including cars, trucks, pickups, sport utility vehicles, recreational vehicles, and more. Please complete an application and submit it to any office.

Personal Loans
When you need extra cash for whatever reason, we can set up a personal loan for you. Collateral for these types of loans can be certificates of deposit, real estate, and other personal property. (Or can be done unsecured - OAC - ). Please complete an application and submit it to any office.

Additional Resources and Downloads
Free e-book on "The Basics of Funding Your Education" download now

College Planning Guide - a link to Financial Resources
(www.safmt.org)

Scholarships and other financial aid resources
(www.safmt.org)

FREE Federal Student Aid Application Form

For more information:
Please contact Montana Higher Education Student Assistance Corporation:www.mhesac.org or your financial aid office.

Click Here to use our new easy to use Online calculators.

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