First Commonwealth Bank offering Home Equity Loan with 3.75% Rate

First commonwealth bank logoHomeowners have several options when it comes to accessing affordable financing. A home equity loan can be used to fund major expenses, like a family vacation, college tuition, or a home renovation. A fixed loan may also be a good source of funding for debt consolidation, especially in a low interest rate environment. Each financial institution offering home equity solutions to homeowners has varied options and features, as well as different costs, credit requirements, and repayment terms. It is important for homeowners to shop around for the best home equity loan to fit their unique borrowing needs.

The Offer

Currently, First Commonwealth Bank of Pennsylvania and Ohio is offering qualified homeowners a home equity loan with an introductory interest rate of 3.75%. The home equity loan offer applies for homeowners requesting a seven-year fixed loan. Homeowners who need a longer repayment term may qualify for a home equity loan with First Commonwealth Bank with a low interest rate of 4.39% for a 15-year loan.

Home equity loans offered through First Commonwealth Bank under the promotion have no closing costs or processing fees. However, homeowners must have an owner-occupied residence to qualify, and the loan-to-value ratio may not exceed 80% to secure the lowest possible interest rate. Loans are available from $10,000 up to $500,000. Direct payment from a First Commonwealth Bank checking account is required for either home equity loan offer. All borrowers listed on a home equity loan application with First Commonwealth Bank must meet certain credit criteria to qualify for the lowest possible interest rate, including credit score, income, and debt-to-income ratio.

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About First Commonwealth Bank

Founded in 1982, First Commonwealth Bank has been a community financial institution serving residents of Pennsylvania and Ohio. The bank operates more than 100 full-service branch locations along with a large network of ATMs. In addition to its home equity loan products, First Commonwealth Bank also offers mortgage loans, home equity lines of credit, checking and savings accounts, business banking, and wealth management and insurance services to its customers.

Contact Information

Homeowners interested in the low interest rate home equity loan offer from First Commonwealth Bank may gather more information or apply by visiting a branch location, contacting the bank at 1-800-711-2265, or by visiting the bank online.

Posted on February 5, 2018 by in Home Equity Loans, Mortgages,

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05/04/2018