This revolving line of credit can be easily accessed at any time, making it handy to have in an emergency or in case a sudden opportunity comes your way. Plus the interest may be tax-deductible. Bank Mutual’s Powerline account is a home equity line of credit secured by the equity in your home. The equity in your home can give you substantial purchasing power to use however you want. Decide how much money you need and easily access your home equity line of credit up to your available limit. Access is commonly available by writing a check. Other alternative access options include Internet banking, telephone transfer, use of our automated phone line, and withdrawals at the teller window.
Your Powerline account can be used for any purpose. Whether you are making home improvements, paying college tuition, purchasing a car, or any other purpose – Bank Mutual’s Powerline account is your financial solution. YOU decide when you want the money, the dollar amount you want to draw from your line of credit, and how quickly you pay it back. YOU are in control of your account.
While other options may be available, the most common Powerline account provides you with the opportunity to borrow up to 80% of the value of your home.
*Subject to normal underwriting standards being met.
Contact your tax advisor regarding the deductibility of interest.