JCB offers two types of Home Equity Loans:
Home Equity Cashline and Home Equity Installment
To determine the equity available in your home, simply take 90% of the
market value of your home and then subtract what you currently owe.
Home Equity Cashline
- A great resource for those home remodeling projects, educational
expenses, small business cash flow needs or as backup for those
unexpected life events.
- How it works...
The Cashline is set up with a credit limit that is based
on the equity available in your home and credit qualifications.
- Once the credit limit is established, you may advance funds as needed
up to your approved credit limit.
- Payments are a percentage of the outstanding principal balance and
may be auto deducted from a JCB deposit account.
- The Cashline offers a variable rate of interest, which adjusts with
the Wall Street Journal prime rate.
- Because the loan is secured by real estate, you may also be eligible for
tax benefits. (Please consult your tax advisor for additional information.)
Home Equity Installment
- A great resource when you know the amount of funds needed up front, like a new roof,
a room addition or consolidating debt.
- Allows repayment of funds at a fixed rate of interest over a period of 10 years or less
with monthly scheduled payments.
- Payments can even be auto-deducted from a JCB deposit account.
- Since the loan is secured by real estate, you may be eligible for tax benefits too.
(Please consult your tax advisor for additional information.)
Lending to qualified borrowers residing in Jackson, Lawrence, Jennings, Bartholomew and contiguous counties in Indiana