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Home Equity Loans

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Designed To Meet Your Needs

• Home Equity Loan
• Rates - Primary Residence
• Rates - Non-Primary Residence (not your home)

Fulton Bank wants to make it easy for you to obtain the loan you want. Whatever you need, Fulton Bankers have many ways to help. You may use a Home Equity Loan for everything from making home improvements to consolidating your bills or any other worthwhile purpose.

You may also save money at tax time with a tax deduction for the interest paid on your loan. Please consult your tax advisor to be sure your Home Equity Loan or Home Equity Line of Credit (OptionLine) interest is tax-deductible on your federal income tax return.

Why a Home Equity Loan?

• Affordable: A competitive fixed rate with minimal start up costs. Plus, you will save money with a lower rate when you choose automatic deduction of your payment from your Fulton Bank Checking Account or Savings Account.
• Convenient: Budgeting is easy with fixed monthly payments. And, if you are consolidating bills, one easy payment per month replaces multiple payments.
• Various Plans Available: Don't wait. You may qualify for a home equity loan in an amount of up to 80% of the value of your home, less any existing mortgage debt. Ask us about our programs for home owners who have only a small amount of equity available. Talk to us about the details!

Income Information Required When Applying:

• Most recent pay stubs showing year to date earnings and pay period
• If self-employed, last two years' Federal Tax Returns and W-2 forms
• Explanations of any other income.

How is the equity in your home determined?

Example based on 80% financing:

Appraised value of home:	$200,000
80% of appraisal:	.80
Equals:	$160,000
Less first mortgage:	-$125,000
Home Equity Equals:	$35,000

Home Equity Loan - Non Primary Residence

Real Estate, other than your primary residence, may be held as collateral for a fixed rate loan. We may lend up to a total LTV of 75% of the current market value.

How is the equity in your non-primary home determined?

Example based on 75% financing:

Appraised value of home:	$200,000
75% of appraisal:	.75
Equals:	$150,000
Less first mortgage:	-$125,000
Home Equity Equals:	$25,000

 

To apply or obtain more information about our Personal Loans, Home Equity Loans or OptionLine, call us at 1.800.FULTON.4 (1.800.385.8664).