Citizens Community Bank

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Citizens Community Bank

800 N. Mecklenburg Ave.
South Hill, VA 23970
Phone: 1-866-763-3508
Fax 1-434-955-2401


Home Equity Line of Credit

As a homeowner, the smart way to borrow is a home equity line of credit! Access the equity in your home for personal expenses:

* Purchase an automobile and avoid higher, nondeductible dealer financing
charges.
* Pay for college expenses.
* Payoff high interest rate credit cards and consolidate your outstanding
debts into one manageable loan.
* Remodel or improve your home.

A home equity line of credit is a revolving line of credit secured by the equity in your home. It may be the right option when you:

* Have recurring borrowing needs
* Need a lower monthly payment
* Want to have an open credit line in case of emergencies

A Citizens Community Bank Home Equity Line may offer potential tax advantages for your consumer purchases. Your home equity can save you money since it is secured by a mortgage lien on your home. The interest charged to your equity line or loan is considered mortgage interest and may be tax deductible for some taxpayers. Consult your legal or tax advisor for more information on equity loans.

Using your Citizens Community Bank Home Equity Line is as easy as writing a check to yourself. Use your line for cash when you need it, without reapplying for a loan. Once your application is approved and your loan is closed, your equity line will be there whenever you need it. Other features include:

* A cost-effective variable rate indexed to the Wall Street Prime. This rate may be as low as Prime minus ¼% for a minimum loan amount of $50,000 when your payments are automatically deducted from a Citizens Community Bank Checking Account.

* You may be able to borrow up to 100% of the equity in your home. Home equity is the difference between the value of your home and any amount you may owe on your mortgage. Available credit is based on this amount.

* A variety of payment options including making interest only payments for up to 10 years.

* A choice of closing cost options.

* Easy record-keeping. You'll receive a monthly statement indicating your current balance, the minimum payment due and the current interest rate.

Personal Loans

Citizens Community Bank offers fast approval and competitive rates on a variety of loan programs. We provide loans for automobiles, boats, vacations and home improvements. Citizens Community Bank will help tailor a repayment schedule to fit your budget. Flexible repayment terms available.
Overdraft Protection

This line of credit can give you added purchasing power or protect you against those instances where your financial needs temporarily exceeded the amount of cash available in your checking account. Once this is in place, you no longer need to worry about bounced checks and NSF charges if you write a check over the balance in your account. Funds will be automatically advanced from your credit line (up to your credit limit) and deposited into your checking account. Write yourself a small loan whenever you need it, simply by writing a check.
Real Estate/Construction Loans

Your dream of home ownership can become a reality. We can help you with a construction loan to build your dream house or a real estate loan to purchase an existing home. We will help you choose the terms and type of loan that meets your needs..