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FCB Edwardsville Bank - 6659 Center Grove Rd. - Edwardsville, IL
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Prime Lines and Home Equity Loans

Confused about the difference between a Home Equity Credit Line (Prime Line) and a Home Equity Credit Loan? You’re not alone. The two products are similar in more than just name. For example, both options use equity in your home to finance things like home repairs and remodeling. Below are a few important differences:

 Features

Prime Line
(Home Equity Line)

15 year draw

Home Equity Loan

Perfect if you want…

A revolving credit line that’s available when you need it

Credit for a one-time purchase or project

Underwriting

Locally underwritten for faster and more accurate decisions

Locally underwritten for faster and more accurate decisions

Interest Rate

Variable, based on prime interest rate

Fixed Rate with option of flex payments

(several amortization terms available)

Closing Costs

Lender paid closing costs

Low closing costs

Access to Funds

Prime Line Home Equity checks - $20.00 per box

(First box of checks is free)

One lump sum disbursement

Payments

Payments vary depending on the current balance and prime interest rate

Payment stays the same for the duration of the fixed term

Automatic Payments through FCB

Not Available

Available

Available Services

Online, Mobile, Tablet, and Telephone Banking
e-statements and e-notices

Online, Mobile, Tablet, and Telephone Banking
e-statements and e-notices

 

Apply Now

Apply Now

Contact your loan officer for more information and current rates!

Get Started

Apply Now

Online, Tablet &
Mobile Solutions

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Auto Loans

with rates as low as

2.20% APR*