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Loan Information
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What are common uses?

    Home Equity Lines of Credit
  • Commonly used when you don't want to borrow the total balance all at once
  • Examples include ongoing home improvements, college tuition, emergency funds etc
    Home Equity Loans
  • Generally used when you want the entire balance at close
  • Examples include debt consolidations, auto loans, boat loans and money down for your next home

How much can I borrow?

    Home Equity Lines of Credit

  • Maximum line amounts vary by state. Typically between $10,000 and $250,000

    Home Equity Loans

  • Maximum line amounts vary by state. Typically between $10,000 and $250,000

Is the interest rate variable or fixed?

    Home Equity Lines of Credit

  • Variable indexed on the prime rate. We also offer the option to fix the rate on all or part of your line of credit. 

    Home Equity Loans

  • Fixed rates only. 

How long can I borrow funds for?

    Home Equity Lines of Credit

  • Initial 10 year draw period followed by a 20 year payback term

    Home Equity Loans

  • 5 - 30 years, to fit your budget

How do I access the funds?

    Home Equity Lines of Credit

  • Ongoing access
  • Via check, or by calling a home equity representative.

    Home Equity Loans

  • Lump sum paid shortly after close

What's the repayment schedule?

    Home Equity Lines of Credit

  • Borrowers make monthly payments based on their principal balance
  • Minimum payment is interest only

    Home Equity Loans

  • Fixed, predictable, equal monthly payments of principal and interest
  • Payment varies based on term of loan

Is the interest tax deductable?

    Home Equity Lines of Credit

  • Interest may be tax deductable (Consult tax advisor)

    Home Equity Loans

  • Interest may be tax deductable (Consult tax advisor)

How do I get started?

Ready to get started? Looking for more information about utilizing the equity in your home? At National City Mortgage we make it easy. You can:

  • Call us at 1-888-881-4214
  • Fill out the short Learn More form to the right and we'll get back to you in 1 business day
  • Chat live with Mortgage Specialist to discuss your options.