Loans

Each of our offices is staffed with a member of our Lending Team to provide you with a complete line of full-service Mortgage, Commercial and Installment loans. We don’t use third-party closing agents or centralized underwriting centers. Your Lender or Branch Manager will personally handle the loan origination, underwriting, and closing at the office of your choice.

• Mortgage Loans
• Consumer Loans
• Home Equity Loans
• Commercial Loans
• Credit Life/Disability and Mortgage Insurance*

Mortgage Loans:

Purchase · Construction · Refinance

Whether you are purchasing your first home or refinancing your present one, a loan officer can help you decide what type of loan is right for you! Armed with a full array of options, we can customize a loan that meets your individual needs.

Fixed · Adjustable (ARM) · Balloon

Hard-to-find financing is also available for 3-Season Homes, Mobile Homes, Owner-Builder projects and Vacant Real Estate.

For current Interest rates and more information on Mortgage Loan options listed here, contact a First National Bank of Eagle River Loan Officer or Branch Manager.

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Consumer Loans:

We extend credit to customers for the purchase of Automobiles, RV’s, Boats, Snowmobiles and consumer goods such as Personal Computers and Home Appliances. We also lend money for Home Improvements and for Personal Expenses all at competitive interest rates.

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Home Equity Loans:

Home Equity Loans use your home as collateral and allow for longer amortizations and rates that are lower and/or are fixed for longer periods of time than with conventional consumer loans. This provides lower monthly payments and, in most cases, tax advantages* not available under other plans. Buy a car, make home improvements, or consolidate high rate credit cards with your Home Equity Loan from the First National Bank of Eagle River.

Home Equity Lines Of Credit combine the convenience of a line of credit with the rate and tax advantages* of Home Equity financing. The Home Equity Line of Credit is a great source of money for unforeseen expenses or unexpected opportunities. Borrow as much as you need when you need it up to your preapproved limit.

See a First National Bank Loan Officer or Branch Manager for current rates and fees under our Home Equity Plans.

* Check with your tax advisor to determine whether the tax benefits of Home Equity financing apply to you.

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Commercial Loans:

• Purchase and Refinance of Commercial Real Estate
• Commercial Equipment Financing
• Working Capital Lines of Credit
• Letters of Credit


Flexible:
Each loan transaction is competitively priced with an interest rate that reflects the risk associated with your particular circumstances. Our underwriting guidelines take into consideration the seasonality of many businesses in our area, and options for alternate payment schedules allowing as few as nine monthly payments per year are available. This generates larger payments during your high volume season, when cash is more plentiful, and skips payments during your off-season.

Personal:

Your loan approval will come from our loan committee, which is comprised of local Board Members and Bank Officers who understand business in the Northwoods. We don’t use third-party closing agents, or centralized underwriting centers. Your loan is originated, approved, underwritten and closed at the office by your lender or branch manager.

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Credit Life/Disability and Mortgage Insurance*:

You can have valuable financial protection that pays when you need it most. Ask your Lender or Branch Manager for a quotation and review of coverage's offered.

*Insurance is:



• Not a Deposit
• Not FDIC Insured
• Not Insured By Any Federal Government Agency
• Not Guaranteed By The Bank
• May Lose Value

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