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Are you considering a major purchase such as home improvements, education, or a new car? Whatever is on your wish list may be within reach with our great rate Equity TLC Flex line of credit.
Marlborough Savings Bank is pleased to offer our Equity TLC Flex, an Equity Total Line of Credit product that offers you options, flexibility and customization whenever you need it.
It works like this - you apply once and determine the available equity in your home. Let's say it's $50,000. You now have the option of using the whole amount as a line of credit or fixing portions of your equity into loans with the remainder still being available whenever you need it. For example, if you want to purchase a car or make renovations to your home, you can fix the rate and the term for the amount you need into a loan. And you can have up to 3 loans at one time! The remaining equity you have is still available as an equity line for whatever else you may need.
It's our answer to having it all and comes with these benefits:
One application
One closing
Multiple loan options
Flexible equity choices
Fast approvals* and turnaround
Interest Only or Principal and Interest payments
Low fixed or variable rates
Minimum line amount is $10,000
Payment by cash, check, Online Banking or transfer of funds from another MSB account
Closings at your convenience
Tax deductibility**
* Credit approval required
** Please consult your tax advisor on tax deductibility.
