Our Full House Line of Credit is very flexible and easy to use.
You borrow money, up to your available credit, by writing a special check. The
Full House Line of Credit is perfect for homeowners without a lot of equity in
their home who would like to borrow between $10,000 and $25,000. You only pay
for the part of your credit line you actually use.
How much equity do you
have available? Take a minute to roughly calculate how large a Full House
Line you may qualify for:
$ _______ Tax assessed
value of your home
$ _______ Less present
$ _______ Equity available*
If your line request is
over $25,000, you may be eligible for our regular Home Equity Line of Credit.
- The interest rate varies
monthly. For current rates, terms, or promotions, please call our Loan Specialist
- If you choose to have your
monthly payments automatically withdrawn from a Cambridgeport Bank checking account,
you may be eligible for a reduced interest rate.
is needed to process your application
Use the following checklist
to be sure you obtain all of the following documents for your application
Completed Application - Each person whose name is on the title to the property
must apply for the loan. Complete all sections and sign the application.
Real Estate Tax Bill - A copy of your most recent bill showing the assessed
value of your property.
Income Verification - A copy of your most recent pay stub or if you are self-employed
or have other income, copies of your federal income tax returns for the past two
Mortgage and Title Information - A copy of your most recent mortgage statement
and a copy of your Quitclaim Deed (Or Owner's Duplicate Certificate of Title if
your property is registered land).
- If you want a loan based
on the market value of your home, instead of the tax assesed value, you will need
to have an apprasial.
Happens Next ?
- Once your loan is approved
and all required items are received, you will be contacted to set a mutually convenient
closing date. Your Home Equity checkbook or loan proceeds will be mailed three
business days after the closing. If you prefer you may request to pick it up at
the Bank. If you have any questions, please contact us
via E-mail or feel free to call us toll free at (800) 731-4900.
- We also offer a fixed rate
Full House Loan. It's a great alternative
if you have a one-time need for money.
*The amount of your Full House Line of Credit will also depend on your current
income, expenses, and past credit history.
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