Home Equity Lines of Credit and Home Equity Loans to Help You Reach Your Goals
Discover the Flexibility and Power of These Loans With Competitive Rates
Verimore Bank is proud to offer home equity lines of credit (HELOC) and home equity loans. These powerful loan products allow you to leverage the equity that you’ve earned in your home.
You can use a home equity line of credit or loan for repairs, remodel, to make a purchase that would normally be outside your price range, take a trip, or to have money set aside for emergencies or other unexpected expenses.
Understanding Your HELOC or Home Equity Loan
When taking out a HELOC or home equity loan, you borrow against the equity you’ve built during homeownership. Your home’s equity is calculated by subtracting your current mortgage balance from your home’s current value.
● A HELOC allows you to draw on a certain amount of money for which you qualify. It is a revolving line of credit, meaning that it continues to stay open as you make payments.
● A home equity loan is a lump sum payment that you receive one time and pay back in installments at a competitive, fixed rate.
Why Choose a HELOC or Home Equity Loan from Verimore Bank?
There is immense value in our home equity loans and HELOCs.
The benefits include:
● Quick financing: HELOCs and home equity loans allow you to finance major purchases right away.
● Lower interest rates: These loan and line of credit products are far less risky for lenders than credit cards and personal loans because the collateral is the home equity you’ve already built. Verimore Bank offers competitive HELOC rates and home equity loan rates. Contact your local branch to learn more about current rates.
● Flexibility: There are no restrictions on how you use these personal loan products from Verimore Bank. This gives you the freedom to decide what expenditures matter most to you and put your line of credit or loan to good use.
● Potential interest rate deduction: A HELOC or home equity loan may be tax-deductible when you use them to invest in and improve your home. However, Verimore Bank recommends that you consult your tax adviser for more information.
Note that you may be responsible for mortgage registration tax or other such fees imposed by your state of residency.
Trust Verimore Bank for Life’s Major Decisions
Our HELOC rates and home equity loan rates allow you to meet your needs and fulfill your dreams for your home or other major purchases. We look forward to assisting you through the home equity line of credit and home equity loan process, so you can experience the flexibility and empowerment that these tools provide.
Find a Verimore Bank Branch
Our branches in North Kansas City, Kearney, Eagleville, Milan, and Brookfield are located near you, so you’ll always have a banking partner in your community. We’re here to lend our support and offer key products and services that keep you happily moving forward through life’s many phases.
Visit our locations page to view local branch addresses, contact info, and hours of operation.
Contact Us Online
Lost or stolen debit card? Call 800.754.4128
Contact Us: 855.871.3303 or eBanking@verimore.bank
Please consult your tax adviser regarding the deductibility of interest for home equity loans. You may be responsible for mortgage registration tax or other such fees imposed by your state of residency.