Home Equity Loans
Use the cash equity in your existing home to purchase that new or used car/truck/rv/boat! Since it’s a Home Equity Loan – the interest may be tax deductible! You won't have that benefit on an auto loan!
Home Equity Lines of Credit
If you have equity in your home, you may qualify for a Bank North HELOC Loan! You get a Line of Credit to use as you choose, when you want! No explaining what you need the money for, use it for anything – vacation, home improvements, camper, snowmobile, pay-off high interest rate credit cards, absolutely anything! Use your HELOC with Bank North as “insurance” for those times when you may need some extra cash. Simply establish your HELOC, then use it when you need it! Don’t need it? Don’t use it! Instead of putting extra expenses on credit cards, put it on your HELOC and get the year-end tax benefits that may go along with a Home Equity Loan!
Consult a tax advisor regarding deductibility of interest.