Home Equity Line of Credit

Lubbock National Bank offers both types of Home Equity Loans either as a Home Equity Term loan or Home Equity Line of Credit.

Home Equity Line of Credit

Any financial needs that may arise in your financial situation such as redecorating your home, college expenses, that once in a life time vacation trip or a consolidation loan on your credit cards. That's where a HELOC comes in. It's flexible. It's smart. And it's a great way to use the equity in your home to pay for the things you need in your home.

Benefits include:

  • Lower interest rates
  • Low monthly payments
  • Variable draw periods
  • Extended repayment periods to fit your cash flow
  • Great reserve for emergencies
  • Interest may be tax deductible
  • No pre-payment penalty
  • Minimum loan amount: $25,000.00

Qualifying properties:

  • Owner-occupied homestead property only
  • Single-family residence
  • Town home
  • Condominium
  • Permanently-affixed manufactured housing

Note: Amount borrowed cannot exceed the lesser of 50% of current fair market value or 80% of current fair market value net of other applicable liens.

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