We offer 3 types of home equity products: Home Equity Loan, Home Equity Line of Credit (HELOC), and Home Equity Flex.

• Home Equity Loan
• Home Equity Line of Credit (HELOC)
• Home Equity Flex

Home Equity Loan
A homeowner can borrow up to 100% of the equity in their home and use the money for home improvements or many other purchases. Use a home equity loan to purchase your dream vehicle, consolidate bills, finance education, take a vacation and more! Benefits of the Home Equity Loan include:

• Save money by financing at a lower interest rate
• Your interest may be tax deductible (consult your tax advisor)

Home Equity Line Of Credit (HELOC)
A home equity line of credit can be used for any purpose. The line is accessed via internet and/or phone transfers. Benefits of the HELOC include:

• Save money with lower interest
• It's a readily available, reusable source of cash - pay down and borrow back!
• Convenience of knowing you can use the funds when necessary
• Your interest may be tax deductible (consult your tax advisor)
• You choose which payment option works for your lifestyle
• Payments may decrease as you repay the loan

Home Equity Flex
Western's Home Equity Flex gives you a revolving line-of-credit with the flexibility to convert all or part of your remaining line balance to a fixed-rate loan. By locking in a portion of your line as a fixed-rate loan, you won't have to worry about rising interest rates. Payments reduce the principal which allows you to use your line again! Benefits of the Home Equity Flex include:

• Interest-only payment on the home equity line
• Option to convert all or a portion of account balance into a fixed-rate loan within the line
• Choice of fixed rate loan terms
• No need to reapply to fix your rate
• Online access through Online Banking
• Interest may be tax deductible (consult tax advisor)

Use the equity you’ve built in your home!

NOTE: It is Western State Bank's policy not to accept loan applications from individuals or businesses located more than 60 miles from our Devils Lake, Towner, Fargo or West Fargo bank locations, unless the applicant is a present customer or has made prior arrangements with a bank officer. If you are outside of the area defined above and would like us to consider a loan for you, please contact one of our lending officers.

* The application is in Adobe Acrobat format. If you do not have Adobe Acrobat, click the following picture for a free download. After completing the application, please bring it to the nearest Western State Bank location.