Consolidate Debt

It’s always a smart financial move to reduce your debt at the lowest possible interest rate. That’s what you can do with a Chesapeake Bank home equity line of credit. And you also may be able to deduct the interest from your taxes.

Tap the equity in your home to consolidate any kind of debt; for example:

Credit cards – Ask us how our rates compare. Typically, they are considerably lower than department store and major card rates, which means you’ll spend less money on interest charges.

Medical expenses – Ask us whether it makes sense for you to pay them from your home equity line. The interest on your line payments may be tax-deductible, even if you cannot itemize your medical expenses for tax purposes.

Higher-rate personal loans – Ask us how our rates compare to the costs of your car, computer or home improvement loan. You may be able to save money by paying them off with your equity line.

For more information, visit a loan officer at one of our convenient LOCAL OFFICES. Or enter the Chesapeake Bank ONLINE MORTGAGE CENTER, and get started now.