Home Equity Lines of Credit (HELOC)
Your home is more than just a place to hang your hat. It’s also a great source of funds for a range of other needs. If the value of your home has gone up since you bought it, or you’ve paid off a significant portion of the mortgage, you could qualify for a home equity line of credit. Get the money you need to pay for major home improvements, college tuition, and more.
- Competitive rates for several ongoing or seasonal needs:
- Education expenses
- Major life events
- Major home improvements
- Debt consolidation
- Emergency reserve
- And much more!
- The existing equity in your home is used as collateral backing
- Accommodating repayment terms that work uniquely for you
- Funds available anytime without reapplying; apply once, then use repeatedly thereafter
- Revolving credit – as principal is repaid, more becomes available for use
- Funds easily available via in-person or phone transfers to a specified First Northern Bank checking account
- Set up automatic payments to be deducted from your account monthly
- Local decision-making and processing
- Attentive, friendly service from start to finish
- Minimum credit line of $25,000
There's no time like the present to get started!