Community First Bank in Fairview Heights

First Equity Line, Our Home Equity Line of Credit Program

Your home is one of your largest assets. Many homeowners enjoy the convenience of using their First Equity Line to fund virtually any major purchase. If you are in the market for a home equity line of credit, our First Equity Line may be right for you.

Product Features:

No Application Fees
No Closing Fees
No Annual Fees
Borrow up to 85% of your home’s value
Low monthly payments
Easy access to your funds
Apply once and use your revolving line of credit for 10 years
Tax-deductible interest (consult your tax advisor for eligibility)

Make your home equity work for you!

Use your First Equity Line for any reason including:

Home Improvements
Tuition
Vacation
Payoff Credit Cards
Purchase a Car

How Much Available Credit Can You Borrow?

Simply take 85% of your home’s current appraised value and subtract from that amount the balance owed on your existing mortgage. In this example, you make entries in the white boxes for your own house. The calculations appear in the shaded boxes.

To apply for your First Equity Line, call us today (618) 234-9500. We look forward to being of service to you!

A free pamphlet, What You Should Know about Home Equity Lines of Credit is available in our lobby or may be viewed online at http://www.federalreserve.gov/pubs/equity/equity_english.htm. You may also obtain a copy by mail. Please send your name, address, and the number of copies requested to Publications Fulfillment, Board of Governors of the Federal Reserve System, Washington, DC 20551. To order online visit http://www.federalreserve.gov/pubs/order.htm.

                                                                                 Example                   Your House

Current Appraised Value                                    $200,000

Percentage                                                              x 85%                          x 85%

Percentage of Current Appraised Value        = $170,000          $

Less Balance Owed on Your Mortgage         - $140,000

Potential credit = $30,000 $

Community First Bank provides banking services for Fairview Heights, Swansea, Belleville, O'Fallon, Shiloh and the Metro-East St. Louis area. Personal services include checking, CDs, savings & investments and loans. Business services include checking, CDs, loans and other business services. We also offer online banking and internet brokerage. Other services include the CFB Debit/ATM Card, safe deposit boxes, telephone banking and credit card services. See our rates for interest bearing accounts.