Home Equity Loans

Two Home Equity Loan Plans Available!

Home Equity Line of Credit

Features: 

  • Variable rate as low as Prime +1.5%.  The index is the Prime Rate as published in the Wall Street Journal.  There is no limit on the amount by which the rate can change in any one-year period.  The maximum ANNUAL PERCENTAGE RATE that can apply during the plan is 18%.
  • Property insurance is required.
  • Consult your tax advisor to determine tax deductibility of interest.
  • Loan is subject to credit approval.
  • Primary residence is used as collateral.
  • Fees and Charges for Early Termination or Default – Fees or charges to third parties generally total between $200 and $2,500 and may include fees for appraisals, surveys, credit reports, flood determination, government recording, title services, title insurance and attorney services.  The Bank will pay all these fees on your behalf at origination.  The Bank will provide you with an itemization of fees paid to third parties at closing.  A termination fee will be assessed if you close the line of credit for any reason within the first 3 years of the Agreement date or you are in default of your Home Equity Line of Credit Agreement.  The termination fee is comprised of all fees paid by the Bank to third parties on your behalf associated with loan closing.

Please see the HELOC Program Disclosure for a New Loan or Renewal, for full disclosure of terms or contact one of our friendly lenders for more information.  In case of errors or questions about your bill, please see the Fair Credit Billing Act Notice.


Home Equity Line of Credit—Minimum 700 Credit Bureau Report Score

Features: 

  • Variable rate as low as Prime, floating.  The index is the Prime Rate as published in the Wall Street Journal.  There is no limit on the amount by which the rate can change in any one-year period.  The maximum ANNUAL PERCENTAGE RATE that can apply during the plan is 18%.
  • Property insurance is required.
  • Consult your tax advisor to determine tax deductibility of interest.
  • Loan is subject to credit approval.
  • Primary residence is used as collateral.
  • Fees and Charges for Early Termination or Default – Fees or charges to third parties generally total between $200 and $2,500 and may include fees for appraisals, surveys, credit reports, flood determination, government recording, title services, title insurance and  attorney services.  The Bank will pay all these fees on your behalf at origination.  The Bank will provide you with an itemization of fees paid to third parties at closing.  A termination fee will be assessed if you close the line of credit for any reason within the first 3 years of the Agreement date or you are in default of your Home Equity Line of Credit Agreement.  The termination fee is comprised of all fees paid by the Bank to third parties on your behalf associated with loan closing.

 Please see the HELOC Program Disclosure for New Loan or Renewal, for full disclosure of terms or contact one of our friendly lenders for more information.  In case of errors or questions about your bill, please see the Fair Credit Billing Act Notice.  

 

Secure and Fair Enforcement for Mortgage Licensing Act or SAFE Act

The SAFE Act (Secure and Fair Enforcement for Mortgage Licensing Act) requires residential Mortgage Loan Originators ("MLO") who are employees of regulated institutions to be registered with the National Mortgage Licensing System or NMLS.  Banks are required to disclose the names of the MLOs and their unique NMLS registration IDs ("UID") to the public.  Please click here (Opens in a new Window) (Opens in a new Window) for a listing of Tennessee State Bank's MLOs and their UIDs.

 

Servicemembers Civil Relief Act Notice
Regular members of the U.S. Armed Forces (Army, Navy, Air Force, Marine Corp and Coast Guard), Reserve and National Guard personnel, members of the commissioned corps of the Public Health Service and National Oceanic and Atmospheric Administration, and certain U.S. citizens serving with armed forces of a nation with which the U.S. is allied in the prosecution of a war or military action, there are some benefits afforded to you by the Servicemembers Civil Relief Act(Opens in a new Window) (SCRA). Some of these benefits also extend to servicemember’s spouse, dependents, and other persons subject to the obligations of servicemembers. To request relief under SCRA, please forward your request together with a copy of the servicemember’s military orders to Tennessee State Bank, PO Box 1260, Pigeon Forge, TN 37868, Attn: Credit Department.
 
Homeownership Counseling Notice
Loans secured by a homeowner's principal residence:
If your payment is past due, you may be eligible for Homeownership Counseling under the Housing and Urban Development Act of 1968. For HUD assistance you may call their toll free number 1-800-569-4287.

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