Ready for the Great Outdoors? RV, hammock on beach, 4 wheeler, boat and trailer

 

Your home’s equity could help make your next outdoor adventure possible!

Baylake Bank is here to help you make the most of your money and your home’s equity. Whether you plan to boat on the bay, enjoy the beauty of a local state park in a new RV, travel, or four-wheel right outside your door, we’ll work with you to help you finance today’s purchases and tomorrow’s dreams!
 

Talk with a Personal Banker today about all our financing options.
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Whatever the good life means to you,
we can help you get there!

To use your Home Equityline, you'll receive special checks FREE which can be used much like a regular checking account. Simply write out a check of $500 or more, and you'll get the dollars you need for that special purchase or investment.

Once you qualify, a Home Equityline or loan can be especially useful when you need, or want, available cash for expenses such as college tuition, unexpected medical bills, debt consolidation, a major purchase such as an auto or boat, a dream vacation, or more.

*Introductory Rate of 2.49% Annual Percentage Rate (APR) as of 1/21/2013 is fixed for the first 9 months only and is available on lines with a loan to value (LTV) ratio of 80% or less, minimum credit score of 720, and required auto payment from a Baylake Bank checking. After the introductory rate period, the variable rate reverts back to the floor rate or the fully indexed rate, whichever is higher. The fully indexed variable rate for lines of credit equals “index plus margin” and ranges from Prime + 1.00% to Prime + 2.00%. (Prime means the prime rate published in the Wall Street Journal.) The margin is determined by the LTV ratios. Monthly interest only payments required. Available on revolving lines of $10,000 to $250,000 for new relationships or increases of at least $10,000 on current Baylake Bank lines to individuals of owner-occupied homes. After the introductory period, the APR will not exceed 18.00% or be less than 4.00% for 80% or less LTV (4.50% for 80.01-85% LTV). There is an annual fee of $50 after the first year.

All loans are subject to Baylake Bank credit criteria including property and flood insurance as applicable. Monthly payments do not include taxes and insurance premiums. Closing costs vary from $125 to $1,500. Other fees and restrictions may apply. Conversion Option Lock fee of $50 may apply. Not valid with any other offers. All terms and conditions are subject to change at any time. Consult your tax advisor regarding deductibility of interest.

 

Home Equity Line As low as 2.49% APR* 9-Month Introductory Rate. After 9 months, the APR may vary, and is currently at 4.25%

Home Improvement

Vehicle Purchase

Debt Consolidation

College Tuition


Home equity is considered to be the current market value of your residence, less the balance of any loans secured by your residence.

For example:

Current value of home $ 80,000
  x .80
Subtotal $ 64,000
Less present mortgage balance $ 20,000
Approximate equity loan value $ 44,000

Advantages of a Home Equityline

Current tax laws make Baylake Bank Home Equityline a beneficial way for you to borrow money.

While tax deductions for interest expenses on other consumer loans have been phased out, Home Equityline interest (subject to certain limitations) may be 100% reportable as mortgage interest.  Please consult your tax advisor for deductibility, etc.

A Home Equityline is a versatile, handy and advantageous source of funds. 

In addition, a Baylake Bank Home Equityline offers a "conversion option" which enables you to fix a competitive rate on a portion or all of your outstanding Home Equityline balance.  Then, as your principal is paid, it once again becomes available on your line of credit.

For complete details, contact a Personal Banker at your nearest Baylake Bank Financial Center