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The Equity in Your Home is a Great Source of Financing

Home Equity Term Loans

Use the equity in your home to pay for remodeling expenses, purchase land, or purchase a new vehicle, RV, motorcycle, or the toy of your choice. Home Equity Term Loans work just like a car loan, but are secured by the equity in your home.

Benefits include:

  • Fixed rate* and payment
  • Repayment terms as long as 20 years
  • Interest may be tax deductible (consult your tax advisor)
  • Convert your home’s equity into cash for a variety of purposes

Home Equity Line of Credit

Use the equity in your home to borrow money when you want it, when you need it and for whatever purpose you choose. The HELOC may be the best type of loan you ever have.

Benefits include:

  • Flexibility – use the line of credit for any purpose
  • Repayment – choose payments from interest-only to as much as you choose
  • Tax benefits – interest may be tax deductible (consult your tax advisor)
  • Fast – most loans can be approved the same day
  • Great rates – save on higher rate loans and credit cards
  • Convenience –advance funds on your line of credit via online banking or phone

Fix-Up Fund Program

  • Loan amounts up to $35,000
  • Repayment terms as long as 20 years
  • Interest may be tax deductible (consult your tax advisor)
  • Must earn less than $96,500 annually (waived if improvements are for accessibility for a disabled person)
  • Fixed interest rate and payment
  • Money must be used for cost of improvements only

MNB is your local partner for the Minnesota Fix-Up Fund!

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