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Heading back to school

Posted July 23, 2014 in Altoona, Advice Column, Pleasant Hill

I am located in the same building, but have a new bank name with great products and programs to be of even more service to you and your back-to-school needs.

The kids are getting excited for school shopping and students are about to head off to college with their favorite futon. All of these back-to-school preparation details take funds. Your local bank is an option for you today and every day.

One option you have is to open a new line of credit against the equity you have built up in your home. You can withdraw funds from that line of credit in small increments or in one large sum of money. You can also pay it back in monthly payments or other options that are most convenient for you. We have lines of credit that you can leave open with a zero balance for years, and you can just use the funds when they are needed.

We also offer other credit options to borrowing funds from the bank that are secured loans, and other options that are not secured with a valued asset. If you have a student heading off to high school or college in need of a sound car to drive, car loans are also another great option this back-to-school season that you need to consider.

Fall is also a great time to plan your home loan needs as well.  Are you needing less of a  house this fall as you become empty nesters, or perhaps are needing to move up to a larger home as the family grows and brings home even more stuff? There are lots of home loan options out there for 10-, 15-, 20-, 25- and 30-year mortgages, renovation loans, Rural Development loans, IFA, FHA, VA, etc. Some products are available with minimal down payments, while others are out there to keep your mortgage payment as low as possible.

If you are waiting for your current home to sell but do not want to let your dream home escape while you wait for the sale of your house, there are bridge loan options available to fill the gap from one transaction to the next; the “in between” home loan.

You also have the home equity loans available for the “to-do list” loan. From home remodeling and landscaping to vacations and weddings, use the equity in your home to go from dream to done. There are often lower interest rate financing options available. You can use these loans for almost any purpose, like home improvement, debt consolidation, college and other large expenses. You can arrange single payout, with a fixed interest rate and fixed monthly payment. Check out all your options available for this back to school season.

Information provided by Lori Slings, Great Southern Bank, 160 Adventureland Drive, Suite H, Altoona, (515) 967-4700,

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