Home Equity Lines of Credit and Loans

Making it easier and more affordable to put your home’s equity to work for you.
If you’re considering a Home Equity Loan or Line of Credit, you probably fall into one of three categories.

#1) READY TO GO

You’re ready to review our rates, product details and application process in more detail. Visit our Home Lending Center.

#2) COMPARING OPTIONS

You know the ins and outs and are trying to figure out what bank or institution is right for you. Here’s a snapshot of what sets Merchants Bank Home Equity Loan and Home Equity Line of Credit programs apart.

• NO application FEE and NO annual FEE (click here for details)
• Competitive rates, both fixed and variable (click here for a personalized quote)
• Streamlined application and approval process (click here to begin the application process)
• Lock in an interest rate for 30 days, free of charge–at any time from when you first submit your application to when your closing interest rate is set.
• No minimum Home Equity Line of Credit draw requirement
• No prepayment penalty–so you can payoff your loan at any time without a penalty
• Possible tax deductible interest (see your tax advisor for details)
• Option to use your credit line as overdraft coverage for your checking account

#3) NEED SOME BASIC INFO

At Merchants Bank, we encourage you to make a highly informed decision when it comes to deciding on Home Equity Loans and Lines or Credit. A good first step is to work with people who will take the time to understand your unique situation and deliver a product and the customer service you need to make a sound decision.  

Download this convenient PDF to understand the key differences and important details to consider when considering a Home Equity product.