As a part-time farmer who may also work full-time off the farm, you've got a unique set of financial needs. Fortunately, there is a unique financial tool to help you make the most of the life you've chosen. It gives you the convenience to manage routine financial needs, yet also provides the power and flexibility you need to handle larger financial commitments.
FCS Equity Line of Credit (ELOC) gives you convenient, economical access to funds. You get a flexible line of credit ranging from $10,000 to $150,000, which reopens with principal payments and can offer potential tax savings on the interest you pay.
Competitive Rates
- You'll receive the most competitive short-term variable rate available, based on the prime rate.
- FCS Equity Line is based on the value of your whole property including the value of your primary home and any additional land. We also calculate the value of other building improvements. Most home equity lines of credit are based on the value of your home only.
No Fees
- No closing costs or application fees*
Payment Options
- Interest-only payments
- Or make principal and interest payments at any time without penalties or fees
Convenience
- You can access your FCS Equity Line with drafts or online banking.
Flexibility
- FCS Equity Line features up to a 10-year term.
- You can lock in up to three fixed-rate loan segments during the term of the loan. This fixed rate option begins at $5,000 and offers the security of long-term fixed funding.
Potential Tax Benefits
- The interest on your line may be tax deductible. Consult your tax specialist for details.
*Certain restrictions do apply. Contact the FCS Financial office nearest you for more information.
