HomeFlex Equity Line
HomeFlex equity line of credit offers cash
Ann Langenberg-Miller and Terry Miller spent more than a quarter century growing their tourism-based businesses in the Healy area. From Denali Dome Home Bed and Breakfast to Keys to Denali Car Rental, Ann and Terrys hard work has paid off in the form of full bookings and high marks from the AAA (formerly the American Automobile Association), statewide convention and visitors bureaus and chambers of commerce. They know how to take care of tourists and families visiting one of Alaskas most-beautiful locales. But when the time came to take care of personally housing their own family, the couple knew to turn to First National Bank Alaska for a HomeFlex equity line of credit. The bank has been great facilitating our mortgage needs through the years, Terry said. When we were pursuing a property, (Healy Branch Manager) Marty Crow did a wonderful job assisting us with a home equity line of credit. When customers receive an approved HomeFlex equity line of credit, they use the equity in their existing home to borrow the amount ($5,000 to $250,000) when its needed most. An equity line of credit can be used for college tuition, debt consolidation, major medical expenses, home remodeling projects or those unexpected expenses. Rates may be variable or fixed. And, just like your mortgage payments, the interest you pay on your HomeFlex equity line may be tax deductible.
Heres how it works:
- Approved HomeFlex Equity Line borrowers qualify for a maximum loan amount.
- Based on the amount for which a borrower qualifies, the minimum HomeFlex Equity Line is $5,000, and the maximum is $250,000.
- Draw on the available credit in your HomeFlex Equity Line whenever you need, for whatever you like. Once each year, at any time during the year, you may choose to convert a portion or all of your outstanding balance from a variable rate to a fixed rate of interest.
- You have seven years to draw and repay on the line and up to 10 more years to repay the remaining outstanding balance.
Using your approved credit is easy with a HomeFlex Equity Line. Once approved youll have immediate access to your available credit using:
- HomeFlex MasterCard debit card
- BankNow! Online
- BankNow! by Phone
- Branch visits
Local servicing makes the difference
Ann and Terry knew the financial assistance they needed was right next door at First Nationals Healy Branch. Our bank is a lot like that helpful neighbor you know you can count on, Ann said. A home equity line of credit gave us the personal flexibility we needed. As a busy couple managing multiple businesses, its nice to know First National is there for us. First Nationals team of loan servicing experts is available at any of our 30 branches around Alaska. Visit FNBAlaska.com
or call 777-4362/1-800-856-4362 from communities outside Anchorage.
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The articles and opinions in this publication are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest you consult your attorney, accountant, financial or tax adviser with regard to your individual situation. Entire publication. For publication information, call (907) 777-3409.