|
|
|
|
|
|
Need to consolidate high rate
credit card balances or other loans, make home improvements, finance a college
education, or cover an unexpected expense? With M.O.M it's
easy.
Home Equity Lines of
Credit |
Home Equity
Loans |
 |
|
- Borrow
as needed. Pay interest on the outstanding amount only.
- Interest
rate is variable
- Flexible
payment terms.
Can pay the line off any time. No pre-payment
charges.
- Access
credit line by using checks as many times as you like during the access period
up to your credit limit.
|
- Lump sum
amount.
- Interest
rate is fixed for the
life of the loan.
- Fixed
payment every month which includes principal and interest.
- Can
choose payback period from flexible maturity terms.
|
 |
|
- Best for
those customers who have both a current need and would like to have the
flexibility of a line of credit for future uses.
|
- Generally for more conservative customers who want to know exactly what
their monthly obligation is, and have current borrowing needs but do not foresee
future ones.
|
 |
|
|
|
More Savings Right from the Start...
Both M.O.M.'s Home Equity Lines
of Credit and Loans offer you the advantages of low rates and significant tax
benefits. Because your home is what secures your borrowing, you can deduct your
interest* payments the same way you deduct your mortgage interest and take
advantage of one of the last tax write-offs left.
*
Consult your tax advisor regarding the deductibility of
interest.
|
|
|
