Home Equity Line of Credit

Monthly bills are stacking up or just wanting to make a sizable purchase?   A Home Equity Line of Credit may be the answer.  It’s fast and easy with a great rate starting at prime.  Call the lending experts at Level One Bank at 888.880.5663 or 248. 737.0300.

Ideal for someone who has multiple needs-now and in the future.  The Line of Credit is based on the amount of equity the home owner has in their property.  A variable-rate revolving line - as principal is repaid, may be borrowed again.

Product Feature:

• Variable rates as low as Prime + 0.75% with no closing costs.*
• Revolving line of credit accessible by simply writing a check.
• Interest-only payments based on your outstanding balance—you only make payments on the amount used
• 10 year term
• Interest paid may be tax-deductible**
• Manage your Home Equity Line of Credit through Online Banking
• Transfer funds online from another Level One deposit account to make payments to your Home Equity Line of Credit
• Borrow up to 80% of your home’s appraised value
• Minimum line amount $10,000
• Save .25% on your rate by opening a Level One Bank checking account with automatic payments
• Annual fee of $50.00 starting with the first year

For rate information or to learn more:

HELOC Terms OR Call 888-880-5663 OR 248-737-0300 

*Subject to credit approval. Based on Wall Street Journal Prime.  Prepayment penalty of $350 if loan is closed within the first three years.  No closing costs applies to the State of Michigan, however Level One Bank reserves the right to collect an appriasal fee if we deem that the property will not meet anticipated value provided by the borrower prior to ordering the appraisal.

**Consult your tax adviser regarding the deductibility of interest            

Unsecured Personal Line of Credit

A line of credit makes borrowing exceptionally easy
Our Personal Credit Line is an unsecured, revolving line of credit that gives you quick access to funds to help you manage your monthly expenses into one low payment. It provides a quick access to funds for various financing needs.

• No collateral required
• Minimum loan amount $5,000
• Competitive rates and fees, lower than most credit cards
• Quick loan approval*
• Convenient access through checks or transfer balances by phone or online
• Unlimited check writing with no fees and no minimums
• Transfer funds online from another Level One  account to make payments to your Line of Credit
• Access your loan information and balance through Online Banking

For rate information or to learn more:
Call 888-880-5663 OR 248-737-0300

*Subject to credit approval. Based on Wall Street Journal Prime.  Add .25% for Credit Score 640 and under. Add 0.25% when an automatic deduction plan is not established from a Level One Checking account.

Overdraft Protection

Plan ahead for those unexpected expenses - Our overdraft protection is a line of credit that gives you the ability to guard against unexpected cash-flow shortages.  Unsecured line of credit that provides overdraft protection for your Level One Bank checking account.

• No collateral required
• Line amounts range from $1,000 up to $10,000
• Quick loan approval*
• Flexible payment options, by phone or online transfer
• Access your line information and balance through Online Banking
• Low Annual fee of $25 only

For rate information or to learn more:
Call 888-880-5663 OR 248-737-0300

*    Subject to credit approval. Based on Wall Street Journal Prime.