Home Equity Line of Credit.
By tapping into the equity in your home, you can have money available to purchase take care of needed repairs or improvements to your home, or purchase a second home, or even a car. At Oregon Territory you may borrow up to 100% of the Market Value, from your Property Tax Statement or 90% of a current appraisal, less any liens or mortgages. Loans are available for owner-occupied single dwellings.
Generally, the interest paid on a home equity loan, or line of credit is fully deductible provided the loan, up to a maximum of $100,000, does not exceed the fair market value of the property, less any liens or mortgages.
Check with your tax advisor.
Fees
To get started, fill out a loan application and bring in these items:
How do I access my credit line?
You can access your credit line by calling to transfer funds to your checking account, request a check to be sent to you, or go to any teller to make an advance. For your protection, your Home Equity line cannot be accessed from ATM machines. There is never a fee to access your line of credit. The minimum amount for an advance on your credit line is $500.