There’s money in your
Your home is one of your largest investments. As
it increases in value, your equity grows. Did you know:
You can access your equity without selling your
You can borrow money using your equity as
collateral for your loan.
Home equity loans usually offer lower rates
than personal loans.
You can access your equity with a home equity
loan or line of credit.
We can help you unlock
the equity in your home. Then, use it any way you choose. And, the
interest you pay on your loan is tax deductible, in most cases.
(Consult your tax advisor for details.)
At ProGrowth Bank,
you’ve got options.
We are pleased to offer you two convenient
options for accessing your equity:
Do you have several uses for your equity and want
maximum flexibility? Check out our home equity line of credit. Are
you looking for a specific amount of money and a fixed payment? A
home equity loan may be best for you. We’ve got the home equity
solutions to meet your needs.
Lines of Credit
Maximum flexibility…easy to use.
When you establish a home equity line of credit, you have the
freedom to use the money when you need it, in the increments you
want, without reapplying for a new loan. Use the money, repay it and
use it again!
Here’s how a home equity line of credit works:
You have a $25,000 home equity line of credit. Borrow $5,000 to
remodel your bathroom. Make payments only on $5,000. Borrow $10,000
to buy a boat. Now make monthly payments on $15,000. Borrow $5,000
to consolidate your credit card debt. Now, you will make monthly
payments on $20,000. You still have $5,000 to borrow if you need.
Variable rate or fixed rate options available.
Monthly payments of the interest you owe based
only on the amount of money you are using.
Payments can be automatically deducted from
your ProGrowth Bank checking account.
These options will not reduce the principal
balance you owe, but they make payments more affordable for some
You can make additional payments to reduce your
principal at any time.
Your monthly statement will show your line of
credit balance being used and your available balance, as well as
your monthly payment. How do you access your home equity line of
credit? It’s easy! Simply use the free checks we provide with home
equity lines of credit (for qualified borrowers).
A home equity loan offers a fixed rate and a
fixed payment for the life of the loan. Use your equity loan for any
purpose…buy a car, pay for college, remodel your home.
Save BIG money when you consolidate your debt.
Pay off your existing debt with a fixed rate home equity loan and
enjoy substantial savings on your monthly payments...enjoy the tax
Answer these true / false questions to find out
if using your home’s equity is right for you.
I have built significant equity in my home.
I currently manage my
use of credit wisely.
I am not overburdened with debt.
An equity line or loan could help me
consolidate my higher interest rate debt.
I want to use my equity carefully, since I have
worked hard to build it.
I itemize my tax deductions each year.
I have other assets, in addition to my equity.
If you answered ‘True’ to most of these
questions, an equity line or loan may be an excellent option for
you. We encourage you to manage your equity wisely and look forward
to answering any questions you may have.
equity in your home and start making your
dreams come true!
Buy a car
Remodel your home
Pay for college expenses
Finance your vacation
Buy a boat or motorcycle
Consolidate your debt
It’s Easy to
Unlocking your equity should be hassle-free!
Applying for a home equity loan or line of credit
is easy at ProGrowth Bank. Stop in at any of our three
call us to
get the process started over the phone. We’ll gladly discuss your
options, current rates, repayment terms and any costs associated
with a new equity loan. Together, we’ll find the best home equity
solution to meet your needs.
Thank you for choosing ProGrowth Bank!