use your home's equity when you need it most.
This revolving line of credit can be easily accessed at any time, making it handy to have in an emergency or in case a sudden opportunity comes your way.
Plus the interest may be tax-deductible. Bank Mutual’s Powerline account is a home equity line of credit secured by the equity in your home. The equity in your home can give you substantial purchasing power to use however you want. Decide how much money you need and easily access your home equity line of credit up to your available limit. Access is commonly available by writing a check. Other alternative access options include Internet banking, telephone transfer, use of our automated phone line, and withdrawals at the teller window.
Your Powerline account can be used for any purpose. Whether you are making home improvements, paying college tuition, purchasing a car, or any other purpose – Bank Mutual’s Powerline account is your financial solution. YOU decide when you want the money, the dollar amount you want to draw from your line of credit, and how quickly you pay it back.YOU are in control of your account.
How much of a line of credit can I receive?
While other options may be available, the most common Powerline account provides you with the opportunity to borrow up to 80% of the value of your home.
Home value:$180,000 x 80% = $144,000
Present mortgage balance: $108,000
Powerline amount: $36,000*
*subject to normal underwriting standards being met.
Summary of Powerline Features
Competitive interest rates and terms
No minimum advance required
Free initial check order
Interest paid may be tax deductible*
*Contact your tax advisor regarding the deductibility of interest.
Would you like to learn more about how a Home Equity Line of Credit may benefit you? Request more information from a Bank Mutual expert by completing the form below or find a local banker near you.