Home Equity Loans & Lines of Credit
A smart way to make major purchases while enjoying the tax benefits
Homeownership gives you an opportunity to borrow against the equity of your home for most any financing need.
- Consolidate debts
- Take a vacation
- Buy a new car
- Make an investment
- Or most anything you wish
And best of all, the interest may be tax deductible (be sure to consult your tax advisor to verify the deductibility).
You can choose from two options:
Home Equity Loan
If you know how much you need, want all the cash up front and like the dependability of a fixed interest rate and fixed payment each month, a Home Equity Loan is the best choice.
Home Equity Line of Credit
If you’re not sure how much money you need and don’t mind if your payments vary each month, a Home Equity Line of Credit is the answer. It’s a revolving credit account that gives you cash when you need it over a long period of time, with a variable interest rate.
Call us at 651-227-7071, or Contact Us online for more information about Home Equity Loans.
Crediting Loan Payments
The account number or payment coupon provided must accompany all loan payments. Loan payments must be sent to BankCherokee, 607 South Smith Avenue, Saint Paul, Minnesota 55107. You may also make loan payments by any of the following methods:
- In person at any BankCherokee office, or
- By calling the bank and communicating payment orders to us, or
- By utilizing Cherokee Online, the bank’s online banking system.
Our business hours of operation for receiving loan payments are from 9:00a.m. – 5:00p.m. Monday-Friday, except bank holidays. If a loan payment is received during non-business hours including Saturday mornings at one of our teller windows or Call Center, the payment will be credited the next business day or as otherwise permitted by law.
BankCherokee Mortgage Loan Originators Nationwide Mortgage Licensing System (NMLS) Info:
|Jacqueline A. Arias
|Kathleen M. White
|Patrick G. Morris
|Chastati L. Schaefer