Home Equity Lines of Credit from Ossian State Bank offer a smart way to take advantage of your largest asset. By borrowing against the equity in your home, you can pay for ongoing expenses such as home improvement or education, or one-time expenses such as purchasing a new car.
Equity Line of Credit or Interest Only Equity Lines
Another Great Idea to Serve Your Needs!
- This program is for primary owner-occupied residences.
- This open-ended line of credit can be used for any purpose, for example: home improvement, college tuition, new car, investing in a new business, etc. It’s perfect for anyone with varying cash flows.
- Monthly payments are very flexible as the minimum payment due is only the accrued interest or finance charge for qualified borrowers.
- The rate is very attractive – (Prime + a margin). Auto-pay required.
- Transfers can be made on-line, at any time, or you can write a check against the approved line of credit ($150.00 minimum advance).
- The interest on equity lines may be tax deductible if you itemize on your federal income taxes. (You should contact your accountant or tax professional.)
Contact us to find out how you can get started today!