Home Equity Line of Credit...
A Great Idea!

Need to complete home improvement or pay for your child's education? Take that well deserved vacation, or maybe you need to consolidate your bills. Whatever the need, home owners have a smart option for their borrowing needs - a home equity line.

A home equity line lets you borrow against the equity you have established in your home. At First Independence Bank, we take pride in helping you gain access of your home's value. This program is called FIB Home Equity Line.

What is FIB Home Equity Line? And How Does It Work?

Equity Line is a line of credit secured by your home. The maximum line of credit you can obtain is 80% or the estimated value of the property, less the outstanding balance of the first mortgage and/or any other outstanding liens on the subject property. Let's just say that you have an Equity Line credit limit of $20,000. You simply write Equity Line checks for any amount over $200, keeping the value under $20,000.

What are the Advantages of FIB Home Equity Line?

Compare the following benefits of FIB Home Equity Line to your current financing program.

You only borrow the amount of money you need each time. Should you need more later, just write another check.
You may pay your line down and readvance on the line at anytime during the loan duration without penalty.
You are only required to pay 2% of the outstanding balance including interest costs or $25.00, whichever is greater. Your payments will be due monthly.
With FIB Home Equity Line, your interest rate is considerably less than what most credit cards advertise.
In most cases, the interest you pay on your FIB Home Equity Line is tax deductible. Consulting your tax advisor is recommended.

Is Equity Line Right for Me?

FIB Home Equity Line is right for anyone with equity in their home. Especially if you are looking to lower your interest costs. FIB Equity Line can be used for any purchases, such as:

Home Improvements
Education
Automobiles& Boats
Weddings
Appliances
Debt Consolidation
Lower Payments

Our FIB Home Equity Line, annual percentage rate is based on the value of an index. The Index is the Prime Rate as published in the Wall Street Journal. When a range of rates has been published, the higher of the rates will be used.

How Do I Start?

To apply for an FIB Equity Line, contact our loan department or any of our Branch Locations for an application. Once completed, return it to any of our offices at your earliest convenience.

To find out whether you're in a good borrowing position, and the maximum amount you should be able to borrow, take our First Independence Bank Home Equity Loan Test.

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Home Page General Information Locations ATM Locations Career Opportunities Lending Products Deposit Products Investment Products Online Banking Treasury Management Calculators Interesting Links Privacy & Security Disclosures Contact Us		Home Equity Line of Credit... A Great Idea! Need to complete home improvement or pay for your child's education? Take that well deserved vacation, or maybe you need to consolidate your bills. Whatever the need, home owners have a smart option for their borrowing needs - a home equity line. A home equity line lets you borrow against the equity you have established in your home. At First Independence Bank, we take pride in helping you gain access of your home's value. This program is called FIB Home Equity Line. What is FIB Home Equity Line? And How Does It Work? Equity Line is a line of credit secured by your home. The maximum line of credit you can obtain is 80% or the estimated value of the property, less the outstanding balance of the first mortgage and/or any other outstanding liens on the subject property. Let's just say that you have an Equity Line credit limit of $20,000. You simply write Equity Line checks for any amount over $200, keeping the value under $20,000. What are the Advantages of FIB Home Equity Line? Compare the following benefits of FIB Home Equity Line to your current financing program. You only borrow the amount of money you need each time. Should you need more later, just write another check. You may pay your line down and readvance on the line at anytime during the loan duration without penalty. You are only required to pay 2% of the outstanding balance including interest costs or $25.00, whichever is greater. Your payments will be due monthly. With FIB Home Equity Line, your interest rate is considerably less than what most credit cards advertise. In most cases, the interest you pay on your FIB Home Equity Line is tax deductible. Consulting your tax advisor is recommended. Is Equity Line Right for Me? FIB Home Equity Line is right for anyone with equity in their home. Especially if you are looking to lower your interest costs. FIB Equity Line can be used for any purchases, such as: Home Improvements Education Automobiles& Boats Weddings Appliances Debt Consolidation Lower Payments Our FIB Home Equity Line, annual percentage rate is based on the value of an index. The Index is the Prime Rate as published in the Wall Street Journal. When a range of rates has been published, the higher of the rates will be used. How Do I Start? To apply for an FIB Equity Line, contact our loan department or any of our Branch Locations for an application. Once completed, return it to any of our offices at your earliest convenience. To find out whether you're in a good borrowing position, and the maximum amount you should be able to borrow, take our First Independence Bank Home Equity Loan Test.

Home Equity Line of Credit... A Great Idea!

Home Equity Line of Credit...
A Great Idea!