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Finance
vacations Vacations, celebrations,
family reunions ...when planning your next "big event"...
Remodel your home It’s one tool
you won’t find at the local hardware store, but the right financing
is the key to creating your dream home.
Consolidate your debt Short ones,
tall ones, big ones, small ones! Interest may even be tax
deductible!
Pay for college Your children’s
education is truly priceless. The equity in your home can help! |
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Your Equity is as Good as Cash
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Home
equity is considered to be the current market value of your residence, less the balance of
any loans secured by your residence.
For example: |
| Current value of home |
$ 80,000 |
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x .80 |
| Subtotal |
$ 64,000 |
| Less present mortgage balance |
$ 20,000 |
| Approximate
equity loan value |
$ 44,000 |
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Whether your home is fully paid
for or you have a mortgage, you probably have immediate access to a substantial amount of
cash.
Now you can use your home to obtain that cash quickly,
efficiently and at an interest rate lower than most forms of consumer credit. It's as
simple as opting for our Home Equityline.
To use your Home Equityline, you'll receive special
checks FREE which can be used much like a regular checking account. Simply write out a
check, and you'll get the dollars you need for that special purchase or
investment.
Once you qualify, a Home Equityline or loan can be
especially useful when you need, or want, available cash for expenses such as college
tuition, unexpected medical bills, debt consolidation, a major purchase such as an auto or
boat, a dream vacation, or more. |
| Advantages of a Home Equityline Current tax laws make Baylake Bank Home Equityline a beneficial way for you
to borrow money.
While tax deductions for interest expenses on other consumer
loans have been phased out, Home Equityline interest (subject to certain limitations)
may be 100% reportable as mortgage interest. Please consult your tax advisor for
deductibility, etc.
A Home Equityline is a versatile, handy and advantageous
source of funds.
In addition, Baylake Bank Home Equityline offers a
"preferred option" which enables you to fix a competitive rate on a portion or
all of your outstanding Home Equityline balance. You are in control of your interest
rate. Then, as your principal is paid, it once again becomes available on your line
of credit.
For complete details, contact your nearest Baylake Bank Financial Center. |
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