Clay County Savings Bank offers both a home equity line of credit (HELOC) and a closed-end home equity loan. With either of our low-cost programs, the possibilities are endless:
Our HELOC program provides you with a revolving line for a 5-year draw period followed by a 10-year repayment period. Interest rate is as low as prime* on HELOCs $150,000 and over.
Lines of credit are available up to 80% loan-to-value (LTV). There are no origination fees and Clay County Savings Bank will pay up to $200 in third party closing costs for qualifying loans*. Also, the interest paid is usually tax deductible (please consult your tax advisor).
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Interest rate adjusts to prime + 1/4%. No origination fees. Bank will pay up to $200 in typical 3rd party closing costs (excludes appraisal or evaluation) on loans $25,000 and over ($10,000 and over, if Clay County Savings Bank holds all prior liens or there is no other prior lien). Please call Clay County Savings Bank's loan department, (816) 781-4500, during normal business hours for current interest rates on loans.