The Peoples Community Bank
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Mortgage Services

Home Equity Line of Credit

The equity you have in your home can be used for any purpose and the interest paid may be tax deductible. Use a Home Equity Line of Credit for home improvements, debt consolidation, a vehicle purchase, higher education needs, investment opportunities or as an emergency source of cash when unexpected needs arise. The interest rate is based the lowest prime rate published in the Wall Street Journal or 5.00% -- whichever is higher -- and changes on the first day of the month following a prime rate change.

Monthly payments on the Home Equity Line of Credit equal 2% of the loan balance but can be repaid faster with no penalty should you desire. Minimum draw requirements are $500 per transaction.