Use your Home Equity for Home Improvements
It's the perfect time of year to start thinking about improving your home. Whether you want to remodel your bathroom, update your kitchen with the latest and greatest in appliances, or give your backyard that much-needed makeover and add the pool you've been dreaming of, now is the time.
A Home Equity Line of Credit (HELOC) is a smart option when you're looking to make home improvements, large purchases, or consolidate debt. With our competitive rates, you get this HELOC at 6.95% A.P.R.*, and it's a great way to put the equity you have in your home to work for you.
Once established, you can access the funds as you need them, allowing you to borrow, repay, and do it again.
Contact a lender at your local Midwest Bank branch to get started today!
*Loans subject to credit approval. A.P.R. (Annual Percentage Rate) will be fixed for three years, then 0.40% over Wall Street Prime, adjusting semi-annually after the initial fixed-rate period. Wall Street Prime is currently 8.00%. Fees up to $1,084.00 may apply. Making the required interest payment may result in a balloon payment at the end of the 10-year term. Monthly interest-only payment due on the outstanding balance. The maximum A.P.R. that may be imposed is 18.00%. Minimum A.P.R. will never be below 5.90%. Offer of credit is subject to approval. Property insurance is required. Rates are subject to change. Consult your tax advisor about the tax deductibility of interest.
**Initial rate on loan amount $0.00 to $24,999.99 is 7.95% fixed for three years, then 1.40% over Wall Street Prime, adjusting semi-annually after the initial fixed-rate period.
- Loan Amount $25,000 or more**
- 6.95% A.P.R. fixed for three years
- After the first three years, the rate will change to 0.40% over Wall Street Prime
- Monthly interest-only payment due on the outstanding balance