When you are ready to purchase that new car, boat or RV, HFB’s personal loans offer competitive rates and options. Let us tailor an installment loan that will fit your borrowing needs. You can rely on HFB for flexible options and a simple application process. We offer auto, boat, and RV loans.
HFB is the home of local banking and local decisions. Call us today!
Home Equity Line of Credit
Life is filled with opportunities and challenges, from home improvements to dream vacations to college tuition! Make the best of them with Home Federal Bank's Home Equity Line of Credit (HELOC).
A HELOC loan gives you a revolving credit line, similar to that of a credit card. Using your home as collateral, you can write yourself a vacation loan, home remodeling loan or a loan for whatever your special needs may be.
With great rates and interest that may be tax deductible, using a HELOC is a better way to afford everything. You can borrow as little as $10,000 or as much as 89.99% of your home's lendable equity.†
Other benefits include:
- Rates as low as 4.25% APR*
- No closing costs to the borrower on loans less than $75,000**
- The interest you pay may be tax deductible
- 15-year program with a 5-year draw period in which minimum payments are interest only on a monthly basis, followed by a 10-year payback period in which minimum monthly payments are principal plus interest on a monthly basis.
You can access the funds at your own convenience through:
- Mobile Banking
- Online Transfer
- In-bank transaction
Contact us today to apply!
*APR - Annual Percentage Rate will vary daily based on the Prime Rate published daily in the Money Rates section of the Wall Street Journal (WSJ). Rate will not change during the first 30 days. After 30 days, the APR will vary daily based on the published WSJ Prime Rate (as of 1/30/16, prime rate was 3.50%) and is subject to change. NOTE: Your APR will never be lower than the Home Equity Line of Credit (HELOC) floor rate of 4.25%. Your APR will never be higher than 21.00% or the maximum rate allowed by applicable law. Your APR may be higher than the advertised rate based on the lendable equity value of your 1-4 Family, owner-occupied dwelling, your credit history, and other factors. This offer is valid for new HELOCs and does not apply to existing HFB HELOCs nor to any HELOC closed in conjunction with a first mortgage product. For this offer, the minimum line amount is $10,000. Associated HELOC account opening fees and charges may include appraisal, flood certificate, recording, and attorney fees ranging from $350 to $1,000. Property insurance is required and flood insurance required where necessary. HELOC is a revolving line of credit with a 15-year term during which the first 5 years you are allowed to make multiple advances of amounts equal to or less than your HELOC credit limit. In addition, interest-only payments will be due on the 15th of each month during the 5-year draw period. Following the 5 year draw period will be a 10-year payback period, during which, no further advances can be made and minimum payments will be principal plus interest, plus any unpaid fees, due on the 15th of each month. Your total indebtedness (HELOC amount plus any other outstanding mortgage loans) cannot exceed 89.99% of the fair market value of your home.
**HFB will pay all closing costs on stand-alone HELOCs ≤ $75,000. For HELOCs > $75,000, the borrower will pay all fees, except when there is an initial draw of $25,000 or more. When the initial draw is ≥ $25,000, HFB will credit $350 towards the borrower's closing costs. All HELOCs are subject to a $50.00 Annual Fee, except during the first contract year. If a HELOC is closed within 3 years of the contract date, you will be charged a $300 early closure fee to reimburse us the costs we incurred to establish the line. Other potential fees include a $35.00 Returned Item Fee, $35.00 Stop Payment Fee, $50.00 Over Limit Fee, and $15.00 Late Payment Fee. Other conditions and restrictions may apply. Consult your tax advisor regarding the deductibility of interest. Offer is subject to credit and collateral approval. Offer subject to change at Home Federal Bank's discretion. †Lendable Equity: The amount represented by the current, appraised value of your home minus any existing debt secured by your home.
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