Personal Loans

Achieve Your Goals with a Personal Loan, Home Equity Loan or HELOC

A new car. A new boat. Emergency expenses. All of these generally require additional financing. At Exchange Bank of Northeast Missouri, we’re in the business of helping individuals and families in our communities get the financing they need to achieve a goal or help better their life. Personal loans, home equity loans and home equity lines of credit (HELOCs) can be used for a variety of life’s bigger needs.

Uses for Personal Loans

The term “personal loan” refers to a loan that can be used for practically any personal need. Loans for new vehicles, boats or an RV fall into this category, as do financing solutions to help you take a much needed vacation, pay for a wedding or cover unexpected or emergency costs.

Personal loans at Exchange Bank of Northeast Missouri can be tailored to your needs. With competitive rates and flexible terms, it’s worth it to talk to a Loan Officer at one of our locations to see how we can help.

Home Equity Loans vs. Home Equity Lines of Credit (HELOCs)

The equity you’ve built up in your home can be a powerful financial tool when you need additional funds for life’s big moments. While both are anchored to your home, these two financing solutions work differently and are for people with differing financial needs.

• Home Equity Loan - home equity loans are a one-time lump sum. They are best for people with immediate financial needs, whether that’s consolidating loan payments or emergency expenses.
• Home Equity Line of Credit (HELOC) - a home equity line of credit, commonly called a HELOC, is a revolving line of credit you can draw on up to a pre-established limit. They are best for someone who has both immediate and future cash needs, or someone who experiences peaks and valleys in their income.
• More information on HELOCs can be found on the Consumer Financial Protection Bureau’s website by clicking here.

Be sure to ask an Exchange Bank of Northeast Missouri Mortgage Loan Originator which option would best fit your situation.

Partner with a Responsible Community Lender

Exchange Bank of Northeast Missouri follows guidelines for responsible lending. It allows you to get the financing you need with repayment terms that won’t put you in a financial hole. Get in touch with us today to learn more about our personal loan options.

Exchange Bank of Northeast Missouri Mortgage Loan Origination Numbers

All loans are subject to the bank’s normal income and credit requirements. Actual terms and conditions may vary.