Loan Options to Help You Purchase What You Need
We feature a complete line of quality credit services for individual financing needs. Expand your financial resources with a loan or line of credit that is flexible, affordable and convenient.
Our traditional installment loans satisfy a variety of borrowing needs. Personal loans are sometimes referred to as installment loans because they are paid off in equal installments every month. They make budgeting easier with their fixed, monthly payments.
Saving Tip #1! Save ¼% off current interest rates when your payment is automatically deducted from a Minnwest checking or savings account!
Get cash when you need it from your Personal Line of Credit. A credit line, unlike a traditional loan, allows you a set dollar amount of credit. Once the amount in your credit line is established, you can draw out any amount (up to your limit). You'll only pay interest on the funds you use, not the entire credit line. This line of credit is unsecured (no collateral required), so your home is never at risk. You can access your credit line for any reason, no questions asked. A credit line gives you the freedom of knowing you can access funds in case of an emergency.
Minnwest is a good resource for that first home purchase or your upgrade into a new or larger home. Start your new home search with a no obligation, no cost consultation with our experienced lenders. And, they'll provide information on the types of loans available. There's also assistance from state and federal agencies that provide first-time homebuyer and other programs.
Home Equity Lending Plans
Your home and the equity in it may hold the key to your next loan. Check into the possible tax advantages of home equity financing for car purchases, home improvements, debt consolidation, educational financing and more.
Home equity loans are popular because the interest, in most cases, is tax deductible.* Minnwest's home equity loans are ideal for one-time major expenses of usually $10,000 or more. It's generally used for a new car, debt consolidation, or a single home improvement. With a home equity loan, you'll receive the entire loan amount at one time.
While a home equity loan gives you a single sum of money, a home equity line of credit gives you an overall credit limit from which to borrow. With a Home Equity Line of Credit or HELOC, the borrower has flexibility with the funds.You can borrow from your limit whenever you want for whatever need. You are in complete control of those funds. A line of credit is perfect for ongoing expenses, such as continuing home improvements, educational and medical expenses, large or unexpected purchases, or lifetime events including wedding or new baby. But it is also attractive due to the tax advantage a home equity product offers. The interest on a home equity line of credit is usually tax deductible.*
*Consult your tax advisor concerning deductibility.
All loans subject to our standard credit qualifications.
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