Old Point can also help you finance your plans with a Home Equity Loan or Home Equity Line of Credit. Both allow you to borrow against the equity in your home and may have the added advantage of tax deductible interest*. With their fixed rate and fixed term of repayment, Home Equity Loans are great for one-time expenditures. You can use them for:
- Room Additions
- Swimming Pool
- Other Home Improvement Projects
Home Equity Lines of Credit are more open-ended than loans. They feature variable rates and revolving payment schedules. To access the funds, simply write one of your Equity Line checks. Since you choose how much or how little you need, it makes it easy & convenient to pay for:
*Consult a tax adviser regarding the deductibility of interest.