Reassurance for life's unexpected expenses

A HomeFlex equity line of credit can offer cash when needed most

Patti and Wayne Floyd’s relationship with First National Bank Alaska goes back nearly 30 years. The Cool Cache Farms owners said the bank made them feel right at home when the couple arrived in Alaska to begin a new chapter in their lives.

“From the very start, First National showed a genuine interest in our family and our business aspirations,” Wayne Floyd said. “We knew we had a bank behind us that wanted to see us grow and prosper.

“Life’s happened through all these years, and the bank has always been there to help us.”

As the Floyds built their farming business, they leaned on First National for help with things like financing the purchase of a pair of high tunnels that allowed them to expand and garden in inclement weather. They also used a HomeFlex equity line of credit to help pay their children’s college tuition and the occasional unexpected emergency that’s popped up from time to time.

“You may not need to use the money often,”Patti Floyd said.“But it’s always reassuring to know it’s there in a pinch.”

With a HomeFlex equity line of credit, First National customers use the equity in their existing home to borrow the needed amount ($5,000 to $250,000). The loan can be used for college tuition like the Floyds have done, debt consolidation, major medical expenses, home remodeling projects or other needs.

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. Consult your tax advisor.

How HomeFlex equity lines work:

• Approved HomeFlex equity line borrowers qualify for a maximum loan amount, between $5,000 and $250,000
• Draw on the available credit 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

Easy to use
Using your approved line of credit is easy with a HomeFlex Equity Line. Once approved you’ll have
immediate access to your available credit using:

• HomeFlex MasterCard® debit card
• Online and mobile banking
• BankNow! by Phone
• FlexChecks
• Branch visits

Learn more about HomeFlex home equity loans and other loan options by visiting FNBAlaska.com. You can also talk directly with a local Alaskan banking expert by calling 777-4362 or 1-800-856-4362 from communities outside Anchorage/ Eagle River.