Home Equity Line of Credit

What is a Home Equity Line of Credit?

A home equity line of credit, or HELOC, is a type of mortgage on your home. You borrow money from the equity you’ve built up and secure the loan with your property, using a revolving line of credit.

HELOCs offer a convenient borrowing solution for homeowners because you simply withdraw funds when you need it, and you only pay interest on the amount you borrow.

The best part? You can use these funds for virtually any expense. From consolidating debt or paying education expenses to finally completing the home renovation you’ve been dreaming of, HELOCs can do it all.

PNB’s NMLS ID Number: 462098

A HELOC offers a number of advantages:

  • Only borrow what you need
  • Borrowing amount is replenished as you make payments
  • Terms up to 7 years
  • Competitive interest rates compared to other lending products
  • Possible tax advantages

Why choose PNB for your HELOC?

We offer a locally owned, quick response approach to your mortgage lending needs. We work with you to find the best solution for your finances, including HELOCs. Contact us today to find out if a HELOC may be right for you.
  • Mortgage Lending Specialists
  • Multiple Loan Options

Schedule a consultation with one of our home equity specialists and we’ll guide you through the process.

Our Home Equity Loan Specialists

Magdalena Delgado Assistant Vice President and Lender Peoples National Bank of Kewanee Yo hablo Español Magdalena Delgado Assistant Vice President and Lender Peoples National Bank of Kewanee NMLS#: 514760 P: 309.853.3333 Lending Divisions Mortgage, Personal Yo hablo Español Email Me
Nikki Lanxon Assistant Vice President and Lender Peoples National Bank of Kewanee Nikki Lanxon Assistant Vice President and Lender Peoples National Bank of Kewanee NMLS#: 392979 P: 309.853.3333 Lending Divisions Mortgage, Personal Email Me
Jennifer Tjelle Lender Dwight Banking Center Jennifer Tjelle Lender Dwight Banking Center NMLS#: 579166 P: 815.584.1212 Lending Divisions Mortgage, Personal Email Me
Leala Eastman Lender Peoples National Bank of Kewanee Leala Eastman Lender Peoples National Bank of Kewanee NMLS#: 1680524 P: 309.853.3333 Lending Divisions Mortgage, Personal Email Me
Wendy Cantu Operations Supervisor and Lender Reynolds Banking Center Wendy Cantu Operations Supervisor and Lender Reynolds Banking Center NMLS#: 673698 P: 309.372.4242 Lending Divisions Ag, Commercial, Mortgage, Personal Email Me
Jolene Efnor Lender Peoples National Bank of Kewanee Jolene Efnor Lender Peoples National Bank of Kewanee NMLS#: 2436969 P: 309.853.3333 Lending Divisions Mortgage, Personal Email Me

Note: Please do not send personal information (account numbers, credit card numbers, or social security numbers, etc.) via email. Thank you.

Apply For a Home Equity Loan At These Bank Locations

  • Kewanee
  • Annawan
  • Bradford
  • Dwight
  • Manlius
  • Reynolds
  • Seneca
  • Sheffield
  • Tampico
Home Equity Resources

How does a home equity loan work for home improvements?

With countless expenses rising today, you may wonder how it’s possible to find funding for your major home improvement projects. The good news is, you may have these funds accessible to you already, and a home equity loan makes it possible.

Lender may loan up to 80% of the appraised value, including any first mortgage amount.

Examples of Senior liens include such things as first mortgages, outstanding liens for unpaid taxes, outstanding mechanical liens, and recorded judgements on the borrower.

HELOC rate is variable and is repriced on the first business day of the following month.

HELOCs will have a maximum term of 7 years and will require monthly payments of both interest and principal (minimum 1% reduction each month).

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