Personal Loans
About Our Loans
Our loan department will, without a doubt, give you outstanding service and will help you with any personal loans you may be interested in. At Community Bank of Boone we try our hardest to get you the best loan we can every time. Stop by and see us for any personal loans you may need to:
- Purchase a car
- Remodel your home
- Pay for college
- Pay off credit card debt
- Other miscellaneous personal needs
Dreaming of a home?
Helpful. Professional. Fair. We work with you to make purchasing a home as simple, easy and convenient as possible. We are professional mortgage counselors. A Community Bank of Boone loan officer will help you make key decisions, such as the type of loan that makes sense for you. We also offer fast loan decisions and expedited closing. What's more, upon approval, Community Bank of Boone can arrange your title work and closing quickly and efficiently. We understand that buying a home is a HUGE decision, wouldn't it be great to have the support you need throughout the process? We're here for you.
Refinancing a home
Refinancing is a popular option for home owners who want lower monthly payments, a shorter mortgage loan term, or equity for home improvements. When you refinance, you essentially take out a new mortgage to replace the one you currently have. You can take advantage of our great re-financing options even if your old mortgage is with another lending institution.
Benefits of Refinancing
- Your overall monthly payments may be reduced due to a lower interest rate if the loan term remains the same
- You may shorten the term of the loan. This may mean higher monthly payments, but because you'll be paying off your mortgage sooner and paying less interest, the equity in your home will build up faster.
- You may want to combine two existing mortgages into one new mortgage, possibly with a lower interest rate.
- You may want to use the equity in your home for home improvements or other financial needs
Use the Equity in your Home
Have a plan to remodel? Maybe have a dream vacation you would like to take? Whatever the need for a loan, consider using the equity you have in your home. Home equity loans and lines of credit are a low-cost way to borrow, a privilege only for homeowners. Interest rates are lower than most credit cards or other types of consumer loans and 100% of the interest could be tax-deductible (consult your tax advisor regarding the deductibility of interest). With a home equity loan, the interest rate is fixed. Use a line of credit to access your loan multiple times, only when you need it. The interest rate on a line of credit is variable and your monthly payments will differ depending on the amount you borrow each month.