Home Equity Loans

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 (Opens in a new Window) for full disclosure of terms for a Home Equity Line of Credit with Minimum 700 CBR Score 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.pdf. (Opens in a new Window  

 

Download our Consumer and Business Loans brochure (Opens in a new Window) for a description of other loans available at TSB.  

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Tennessee State Bank is an Equal Housing Lender

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 SCRA Notice.pdf.pens in a new Window)

Some of these benefits also extend to servicemember’s spouse, dependents, and other persons subject to the obligations of servicemembers.  Please forward your request together with a copy of the servicemember's military orders or any other appropriate indicator of military service, including a certified letter from a commanding officer to:  Tennessee State Bank, PO Box 1260, Pigeon Forge, TN 37868, Attn: Credit Department.

Homeownership Counseling Notice