Home Equity Loans

With a home equity loan or line of credit, you can tap into the equity you have built up in your home to meet a wide range of different financial needs. FNCB will loan money using your home equity as collateral for the loan — the amount of money you can borrow will depend on how much home equity you have, among other factors.

Home Equity Term Loan — Fixed rate, fixed payment
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  Home Equity Term Loan
  
  You may be able to borrow up to 80 percent of the equity in your home at a fixed rate, which gives you certainty with regard to your monthly payment amount.
  
  Loan Features:
  - Range of terms, with the maximum being 15 years.
  - Fixed monthly payment.
  - Borrow up to 80% of the equity in your home.
  - Available for non-owner occupied properties.
  Recommended For:
  - Borrowers who need a determined dollar amount.
  - Borrowers who prefer a fixed interest rate.
  - Borrowers who need a stable monthly payment in order to stay within a set budget.
  - Borrowers who want to consolidate their higher credit card bills with a lower monthly payment.

Home Equity Line of Credit — Easy access to funds
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  Home Equity Line of Credit
  
  Once you’re approved, you can access funds simply by writing a check up to your pre-approved credit limit. This gives you maximum flexibility to borrow money quickly when you need it.
  - 5-year draw period followed by a 15-year repayment period.
  - Interest only payments required during the draw period.
  - Borrow up to 80% of the equity in your home.
  - Loan funds are accessed via check.
  - Available for non-owner occupied properties.
  - The interest rate is tied to National Prime.
  Recommended For:
  - Borrowers who need the flexibility of having available funds.
  - Borrowers who prefer to write a check when they need the money.
  - Borrowers who currently need a smaller monthly payment.

WOW Mortgage — Mortgage-free in as little as 7½ years
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  WOW Mortgage
  
  If you have excellent credit history, you could be mortgage-free in as little as 7½ years. This loan features a fixed interest rate and stable monthly payment amount.
  
  Loan Features:
  - Terms of 7½, 10 or 12½ years.
  - Fixed interest rate.
  - Borrow up to 80% of the equity in your home.
  - Available for owner occupied primary residences, 1-4 family dwellings, vacation homes, townhouses and condominiums.
  - Minimum loan amount of $25,000.
  - First lien position is required.
  Recommended For:
  - Borrowers with an excellent credit history.
  - Borrowers who wish to be mortgage free in as little as 7½ years.
  - Borrowers who prefer a fixed interest rate.
  - Borrowers who need a stable monthly payment in order to stay within a set budget.