HELOCs and Home Equity Loans

A HELOC is a revolving line of credit that allows you to borrow money against the equity in your home. Funds can be accessed as needed within a set credit limit, and you only pay interest on what you use.

A HELOC can be used for several ongoing or seasonal needs:

• Home renovation or remodeling
• Education expenses
• Major life events
• Debt consolidation
• Emergency reserve
• And more!

Here’s what you get with a CNB HELOC:

• The existing equity in your home is used as collateral backing
• As the principal is repaid, more funds become available for use whenever you need them, up to a certain limit
• Funds easily released via check
• The interest paid might be tax deductible; please consult a tax advisor for more information
• Set up automatic payments to be deducted from your account monthly

Loans subject to approval.* Member FDIC. Equal Housing Lender.

A home equity loan is a closed-end mortgage that is connected to your home. You pull equity out of your home in one lump sum to meet your current financial goals. You will pay the loan back over a fixed period with interest.

A home equity loan can be used for short-term or one-time needs:

• Home renovation or remodeling
• Education expenses
• Major life event
• Debt consolidation

Here’s what you get with a CNB home equity loan:

• The existing equity in your home is used as collateral backing
• The interest paid might be tax deductible; please consult a tax advisor for more information
• Set up automatic payments to be deducted from your account monthly

Loans subject to approval.* Member FDIC. Equal Housing Lender.