Personal Loans
Local ownership means prompt, local decision-making.
And a commitment to genuine personal service means
investing the time to understand your needs, then
helping you with the loan or line of credit that works
for you.
Need a personal loan, line of credit or home equity line
of credit? See us first and let us help.
A Home Equity Line of Credit is a convenient and
cost-effective way to access the equity in your home.
Northwest Bank can make it easy for you:
- No closing costs for loans of $250,000 or less
- No application fee
- No annual fee for the first year with just $50 annually thereafter
- Minimum monthly payment of just $50
- Access the account by phone, online, or in person
- Use your line of credit for overdraft protection
- 10 year draw period
- Variable rate tied to prime rate as published in the Wall Street Journal
- Interest may be tax deductible, but you should check with your tax advisor
Like any loan or line of credit, there is certain information we need before we begin. Here's what we at Northwest Bank are looking for:
- Social Security Number
- Employment and Income Information
- Employer name and phone number
- Gross monthly income
- Obligations (types & payment amounts)
- Property Information
- Property Address
- Mortgage Balance & monthly payment
- Estimated home value
- Property ownership information
Once your application is reviewed, we may request additional information from you or a third party such as:
- Property appraisal
- Title
- Mortgage balance
- Income or employment verification (for example, payroll confirmation, W2's, tax returns, etc.)
- Flood certification
Other details you should know:
- Minimum interest rate is 4%; maximum is 18%
- Late fee is 5%
- Grace period is 15 days
- Over-limit fee is $15
- 365/365 interest calculation method
You can expect personal attention-- and a prompt
answer-- to your loan application because we're
locally-owned and dedicated to personal service. You
won't be kept waiting for a distant committee to make a
decision.
 |
Gail Pemble Vice President (503) 906-3956 gail.pemble@northwest-bank.com |
 |
J. Duncan Porter |
