Loans for Your Everyday Life
Montgomery Bank offers a variety of personal loans that can help you make important purchases, from auto loans to Home Equity Lines of Credit (HELOC). All of our lending decisions are made in-house, so you can feel confident that you’ll get a quick and honest answer right away from our loan team.
Rates as low as 4.59% APR*
Whether your heart is set on a brand new or a previously owned car, Montgomery Bank can help you purchase a vehicle to get you where you need to go. We’ll do our very best to make the road to your new car a smooth one. Here are the documents we need to give you a quick, straightforward answer on your loan:
- A completed Consumer Loan Application—completed, signed and dated.
- Evidence of earnings (copy of last year’s federal tax return or current pay stubs; if self-employed, copies of last two years’ federal tax returns)
- Purchase order from auto dealer
- Name, address, and a phone number of insurance agent
- Documentation of monthly rent payment if no mortgage payment.
Home Equity Lines of Credit
Special Introductory Rate of 2.99% for 6 months with no closing costs!**
Put your home to work for you! Once you have equity built in your home, you may be able to use it for items such as:
- Debt consolidation
- Home improvements
- College tuition
*Annual Percentage Rate (APR) is based on (for example) a loan of $25,000 with a repayment of 72 months, an interest rate of 4.99% and a $75 origination fee. Stated APR is based on a new purchase of 2017-2019 models. Other rates are available for other model years and refinances. Subject to credit approval. Other terms and conditions may apply. Rates are effective May 1, 2019 and are subject to change. Automatic payment debit from Montgomery Bank account is required to get stated rate.
**Home equity line of credit is available for single-family residential, owner-occupied properties. No annual fee and no closing costs are charged for lines of credit of at least $10,000 and up to $100,000, with a combined loan exposure of less than $250,000 and a maximum combined loan to value of 90% or less. Different rates, terms and conditions may apply for applicants not meeting these requirements or if Bank is unable to determine an acceptable market value of the property. The annual percentage rate (APR) is fixed for 6 months at 2.99% and then adjusts monthly to Prime + 0.50%, as published in The Wall Street Journal. Prime was 3.25% as of 03/16/2020. This offer is for new home equity lines and subject to change. There is no limit on the amount by which the rate can change each month; however, the maximum lifetime APR is 20.04% and the minimum APR is 4.0%. Published APR includes a 0.25% discount for maintaining an automatic payment from a Montgomery Bank deposit account. The HELOC is structured with a 20-year term. The first 10 years has a revolving line of credit feature with interest only payments and the last ten years is a fully amortized loan with the same variable rate. Property insurance is required; if the collateral is determined to be in an area having special flood hazards, flood insurance will be required as well. Consult your tax advisor regarding the deductibility of interest. Offer is subject to standard credit underwriting and approval. Rate and APR are subject to change without notice.
Subject to credit approval.
Rates also available for boat, ATV, motorcycle and ATV loans.