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Lines of Credit

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Take Control with OptionLine, our Home Equity Line of Credit!

OptionLine is a line of credit that allows you to convert all or some of your floating rate balances to a FIXED RATE, FIXED TERM loan, at any time. Talk to us about the details!

  • Flexible: Use it as both a floating rate line of credit and a fixed rate loan.
  • Affordable: A competitive variable rate that follows market conditions.
  • Convenient: Cash available whenever you need it. FREE checks are provided to access funds.
  • Various Plans: You may qualify for a line amount of up to 80% of the value of your home, less any existing mortgage debt. Ask us about programs for home owners with only a small amount of equity available.
  • Overdraft Protection available
  • One monthly statement

How Does OptionLine Work?

You begin with a line of credit that has a variable rate. As you draw from your line of credit, you can lock in the amount that you have drawn at a FIXED INTEREST RATE and a FIXED MONTHLY PAYMENT at anytime! Use the remaining portion of the line of credit available for future needs!

OptionLine - Real Estate - Primary Residence

Primary Residence Real Estate within Fulton Bank's lending area may be held as collateral for an OptionLine. We may lend up to a total LTV of 80% of the current market value of your real estate.

How is the equity in your home determined?

Example based on 80% financing:

Appraised value of home: $200,000
80% of appraisal: .80
Equals: $160,000
Less first mortgage: -$125,000
Home Equity Equals: $35,000

OptionLine - Real Estate - Non-Primary Residence (not your home)

Real Estate, other than your primary residence within Fulton Bank's lending area, may be held as collateral for an OptionLine. We may lend up to a total LTV of 75% of the current market value of your real estate.

How is the equity in your non-primary home determined?

Example based on 75% financing:

Appraised value of home: $200,000
75% of appraisal: .75
Equals: $150,000
Less first mortgage: -$125,000
Home Equity Equals: $25,000

OptionLine - Certificate of Deposit/Stock Certificate Secured

  • Fulton Bank Certificates of Deposit may be held as collateral for an OptionLine. We can lend up to 100% of the value of the certificate.
  • Shares of stock in the form of stock certificates of nationally listed and traded companies may be held as collateral for an OptionLine. We can lend up to 75% of the current market value of the shares of stock.

OptionLine - Unsecured

An unsecured OptionLine can help pay for home improvements, a vacation, college tuition, or any other expense. You can also use an unsecured OptionLine to consolidate your credit card debt.

Applicants for our Tier 1 product must meet specific qualification standards.

Advantages:

  • No collateral required
  • Affordable payments

To apply or obtain more information about our Personal Loans, Home Equity Loans or OptionLine, call us at 1.800.FULTON.4 (1.800.385.8664).