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As part of our Masterline Home Equity Line of Credit, you can set aside part of your credit line for a fixed-rate installment loan, like a car loan. And you can repay your loan in regular monthly payments, over the period you choose. For example, if you have a Masterline with WSB and you decide to purchase a $20,000 car, just contact the bank and specify the repayment period you prefer. Then we will "carve out" $20,000 of your line into a traditional fixed-rate loan, complete with payment book, at a very competitive rate. Carve out terms are currently between 12 and 180 months. Click here for rates A carve out must be at least $5,000 and more than one carve out is allowed, depending on availability of the line. Our Masterline allows three (3) free carve outs per year. A $250 rate lock fee is imposed on each additional over the three. There are many benefits to the carve out:
To learn more about our Masterlines and "Carve Outs", visit with one of our friendly and knowledgeable customer services representatives at your local branch office, or contact us. Let us know that you found us on the internet!
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