The Byron Bank has a very wide selection of loans to choose from. Our professional loan officers will be very happy to assist you in deciding which type of loan best fits your current situation. Many times we can help you save money by choosing a home equity loan rather than an installment loan.
Installment Loans
Simple interest loans are available for the purchase of new and used automobiles. We provide financing for RV's, motor homes and boats as well as vacation funds and other personal requests. The terms and interest rates are always competitive on all of our consumer loans.
Student Loans
To assist in the financing of a postsecondary education, Federal Stafford and Federal PLUS LOANS are available to qualified individuals.
Personal Credit Line (PCL)
Credit is available right away when you attach a PCL to your checking account. After application and credit approval you can simply write a check that exceeds your balance and your PCL will kick into action!
Home Equity
A home equity line of credit differs from a junior mortgage because the rate is variable and the principal is not due until maturity. You only need to pay the interest each month. This loan is convenient for large or small purchases where a credit line is set up that is continually available to you. You do not reapply each time you need money. The interest is usually tax deductible (check with your tax professional).
Jr. Mortgage
Using the equity in your home is a quick and easy way to borrow extra funds. A junior mortgage may be for home improvements, college costs, auto purchases, or for many other reasons. It is a fixed rate loan and can be set up with a repayment plan that fits your budget. The interest is usually tax deductible (check with your tax professional).
Call at (815) 234-2561 or e-mail us at consumerloans@byronbank.com right away for more information about our credit opportunities.