Consumer Loans are obtained for virtually any reason, but typically for autos, trucks, boats, recreational vehicles, home improvement, etc. These loans are easy to apply for and approval time is quick. Installment loans are designed to have a scheduled repayment for a fixed term.

Personal Line of Credit
Short on cash? Open a personal credit line up to $10,000! Quick approval. Competitive rate. Unsecured. Flexible. Easy access by check. ($25 Doc Prep fee and $25 annual fee both assessed at closing; monthly payment of 2% of outstanding balance automatically deducted from Bank of Elmwood account.)


Auto Loans
Pick the new car of your choice and Bank of Elmwood will finance it at a competitive fixed or variable rate for qualifying buyers. Special discounted interest rates are given if you choose to have your payment automatically deducted from a bank account. Loans for used automobiles are available with terms based on year and condition of vehicle.

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Boat/Marine & Recreational Vehicle Loans
You can now get the boat or RV that you have always dreamed of with the help of one of our installment loans. We offer flexible financing based on the purchase price, down payment and length of term. Let us work out an installment plan that you can afford and help make your dream become a reality!

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Personal Loans
If you would like additional funds on hand for vacations or household purchases, need money for medical expenses or debt consolidation, we have a loan or line of credit perfectly suited for you. Long term or short-term. Fixed rate or variable rate. Secured or unsecured. With our flexible repayment terms, you'll find the borrowing option that's right for you!

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Student Loans
A variety of education loans are available to qualified students attending colleges, technical schools, and universities. PLUS Loans and Stafford Loans are obtainable at low interest rates and repayment may not be required until after graduation. Application for student loans is completed and processed through the financial aids office of the college or university.

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Credit Application
Click here to go to our secure credit application. Please note: Loan product disclosures will be mailed to you within three (3) days of applying.

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Home Mortgage Loans

When you are buying, building, or refinancing your home, we know you have many financing options to choose from. At Bank of Elmwood, we are committed to making sure that we are your first choice. We intend to provide you with the highest standard of quality "Red Carpet Service," the most beneficial products, and the most convenience. Plus, we take care of the servicing of your loan!

Our loan programs include:

• Fixed Rate Mortgages
• Adjustable Rate Mortgages (ARMs)
• Construction Loans
• Lot Loans
• Reverse Mortgages
• Jumbo Loans
• Bridge Loans
• WHEDA Loans
• ITIN Mortgages
• Rural Development Loans

Mortgages—Apply Online

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WHEDA

3% downpayment for qualified homebuyers.

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Home Equity Loans

The simple solution for a one-time need.

At Bank of Elmwood, our home equity loans provide you with a single sum of money designed to suit your borrowing needs. Whether you're buying a new car or paying college tuition, we can help. Available with fixed or variable rates and flexible maturity and payment options, our home equity loans will make your equity borrowing simple.

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Home Equity Lines

The borrowing solution that lasts a lifetime.

Judging by its popularity, many people already appreciate the terrific convenience of our Home Equity Line of Credit.

Once you have established a Home Equity Line of Credit at the Bank of Elmwood, you will receive a debit card to access your line. Then all you need to do is decide how much of your credit line you use and when and why you use it. It is no longer necessary to come in to the bank when you need a loan. You can just use your Home Equity Line of Credit debit card!

With a choice between a fixed or variable rate and a balance that can rise or fall, your minimum monthly payment will vary. You always have the option of paying more than the minimum whenever you like. The repaid principal goes back into your equity reserve, available for you to use again.

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Why Equity borrowing?

Three reasons why equity borrowing may be the best choice for today's homeowners.

Tax Advantages
The interest you pay on most types of consumer borrowing is no longer tax deductible. You may, however, be able to deduct every penny when you borrow up to $100,000.00 against the equity in your home, regardless of how the money is used. (For details, consult your tax advisor.)

Low Rates
That's why Bank of Elmwood offers home equity rates that are lower than most other forms of credit.

Substantial Sums
With an equity loan or credit line, you can typically borrow up to 90% of your home's value, minus any mortgage debt.

At Bank of Elmwood, our equity borrowing programs are designed with consumers like you in mind. That is why we give you a choice in managing how you borrow... and how you repay your loan to restore your home's equity.

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Payment Protection

Protect your equity for a few dollars a month.

You may want the security of Payment Protection. This special insurance will pay off the balance of your loan or credit line (up to $50,000) upon death.

Your life protection premium is recalculated each month based on your current loan balance, so you only pay for the coverage you need. At only a few dollars per $1000 borrowed, payment protection is an inexpensive safeguard for sensible homeowners, like you.

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Wise Management

We can help you manage your home's equity wisely.

At the Bank of Elmwood, we want to help you enjoy the rewards of equity borrowing with fewer risks. We offer 90% equity access and systematic payback terms, backed by flexible repayment options.

Stop in or call and ask us about a Home Equity Loan or Line of Credit. You will find we have the most popular equity loans available for wise borrowers like you.

We have more choices than ever to help you control how you borrow... and how you rebuild your equity.

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