With a Johnson Bank Home Equity Total Line of Credit you can take advantage of the equity you have built into your home for home improvements, a new vehicle, debt consolidation or other borrowing needs. While a traditional home equity line of credit features a variable interest rate, our solution allows you to lock in a fixed rate on all or a portion of your loan.
A fixed rate Home Equity loan is a great way to pay for home improvements or consolidate debt. You will have the security of knowing your payments will be the same each month and the interest paid on your home equity loan may be tax deductible.*
|Benefits||Home Equity Line of Credit||Home Equity Loan|
|Protection||Use the fixed rate option in an uncertain rate environment and when you want to know your payment will be the same each month.|
|Flexibility||Enjoy access to your line of credit. You may also choose to lock up to five loans at a time. As you pay down your balance you will replenish your available line of credit.||N/A|
|Convenience||Access your line of credit for purchases with your Johnson Bank Line of Credit card. Similar to a debit card, your funds are withdrawn from your line of credit.||N/A|
|Tax Deductible||Interest paid on your home equity line of credit may be tax-deductible.* Consult your tax advisor for specific advice.|
*Interest may be tax‐deductible. Consult your tax advisor for specific advice.
In the experience rating process, each loss is divided into a primary and excess portion. The first $16,500 of every loss is determined as a primary loss, with everything above that point considered an excess loss. In July 2011, the NCCI announced a proposal
Contact Information for Notices of Error or Information Requests
The Real Estate Settlement Procedures Act (RESPA) provides you certain consumer rights to initiate a Qualified Written Request (QWR). A QWR is a written correspondence, other than notice on a payment statement/coupon, which includes your name, account number, and states a specific identified error or requests specific information related to your mortgage loan. The bank will acknowledge correspondence received within 5 business days. Notice of a QWR must be mailed to:
P.O. Box 721
Racine, WI 53401