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$$ Home Equity Line 1/4% Below Prime With No Closing Costs $$
Floor of 5.5%*Minimum draw of $10,000 is required at closing.
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There are times in your life when you need extra cash. Maybe you're paying college tuition, buying a new car, planning home improvements - or maybe you just want to consolidate bills? At times like these, you may want to consider a First Capital Home Equity Line of Credit.
Using a home equity line of credit can save you money in two ways:
- It offers you an interest rate significantly lower than you would pay on an installment loan.
- All or part of the interest on your home equity line may be tax deductible.*
*Check with your tax advisor for specific information on your tax situation.
A Home Equity Line Is Convenient.
Once your line of credit is approved, you can decide where, when and how to use your line of credit. You simply write a check.
How to Estimate the Equity On Which You Can Borrow
(In determining your actual credit line, First Capital will also consider your ability to repay the debt, including your income and your other financial obligations.)
- Completed application form
- A copy of your most recent mortgage balance statement (if applicable)
- A copy of the "Schedule A" from your Title Insurance Policy or your Deed of Trust (this is the legal description of your property and is generally one or two paragraphs in length)
- The name, address and phone number of your Homeowner's Insurance agent along with the policy number
- Your W-2 forms and two payroll receipts or copies of your last two years' completed federal income tax forms (if applicable)
In most cases, with the above information in hand, First Capital Bank can provide you with approval on a same day basis, and pay all closing costs in establishing your First Capital Bank Home Equity Line of Credit.
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