Look to NorthStar Bank for your financial options on home buying, refinancing or home construction. Our expert lending staff can offer a variety of loan products for any of your personal needs. NorthStar Bank has various mortgage products available to help you accomplish your goals.
NorthStar Bank will help determine what type of loan is best for you. Contact one of our real estate lenders to assist you!
Use the equity in your home to finance what you need. If you need to improve your living space, fund college expenses or vacation trips, these types of loans may interest you. Best of all, in most cases, the interest you pay is tax deductible. (Ask your tax advisor to be sure)
A home equity line of credit is revolving credit where your home serves as collateral. With a home equity line, you will be approved for a specific amount of credit. You can then advance on the line of credit as your needs arise. Advances can be made by contacting the bank or writing checks specifically for your account. You will receive a billing monthly for the minimum payment due. The interest rate on the home equity lines of credit offered by NorthStar Bank are variable tied to a published index.
A home equity note is a fixed interest rate note where your home is the collateral for the loan. This type of loan provides you with a fixed amount of money repayable over a fixed period of time. You might consider this type of loan instead of a home equity line of credit if you need a set amount of money and want to fix the interest rate and payment.
Visit with one of our lenders to discuss if a home equity line of credit or home equity note works best for you.