Home Equity Options
Home Equity Loans
- Home Equity Loans are an excellent option for one time expenses and are designed to access funds for a specific amount and term.
- Affordable closing costs
- Convenient and flexible terms
- Competitive fixed and adjustable rate options
- Interest may be tax deductible*
- Payments can be made online
- FREE Internet Banking, e-Notices, PCB Mobile, PCB Line, and automatic payments
- Apply online or contact us for an application
*Consult a professional tax adviser for tax advice.
Home Equity Line of Credit
- This flexible open-ended loan has an approved credit limit that allows you to access your funds when you need them. This loan is perfect for either recurring or ongoing expenses.
- As a revolving line of credit, there is no need to reapply
- Competitive rates that adjust with changes in Wall Street Journal Prime Rate
- Access funds by writing a check from your Home Equity checking account
- Accessible via Internet Banking
- Interest may be tax deductible*
- FREE Internet Banking, e-Notices, PCB Mobile, PCB Line, and automatic payments
- Apply online or contact us for an application
*Consult a professional tax adviser for tax advice.
Phelps County Bank, we understand that your home is more than just a place to live — it's one of your greatest financial assets. Whether you're looking to renovate, consolidate debt, or cover a major expense, our home equity loans and home equity line of credit (HELOC) options in Rolla and Springfield, MO, give you the flexibility to fund what matters most.
Maximize Your Home’s Potential With Personalized Lending
As a 100% employee-owned bank, our team is genuinely invested in helping you succeed. That means we take the time to listen and offer guidance tailored to your goals. When you choose a home equity loan or home equity line of credit through Phelps County Bank, you can expect a straightforward lending process, competitive rates, and personal service every step of the way.
Choose From Flexible Financing Options That Fit Your Needs
With a home equity loan, you receive a one-time lump sum with fixed payments, ideal for planned expenses like remodeling your kitchen or paying off high-interest credit cards. Prefer ongoing access to funds? A home equity line of credit provides the flexibility to borrow as needed — perfect for managing costs over time, such as tuition or unexpected repairs.
Enjoy Easy Access and Digital Convenience
Our commitment to convenience means managing your loan is as easy as logging in. Phelps County Bank offers full-service online banking, mobile apps, and secure e-services, giving you 24/7 access to your funds and loan information. You can even apply online or stop by one of our local branches for hands-on assistance.
Trust a Community Bank That Puts You First
Serving Springfield, MO, and surrounding areas including Rolla, Phelps County Bank is deeply rooted in the communities we serve. From local decision-making to our active community involvement, we’re more than just your lender — we’re your neighbors. Our employee-owners are committed to providing trusted advice and dependable support with every financial decision.
Work With a Bank Backed by Stability and Security
Your financial peace of mind matters. That’s why we offer FDIC-insured protection and expert guidance throughout the lending process. At Phelps County Bank, you can count on a secure lending experience built on transparency and integrity.
Turn your home’s equity into opportunity. Whether you're interested in a home equity loan or a home equity line of credit in Rolla and Springfield, MO, our local lending experts are here to help you explore your options. Contact us or schedule an appointment today to learn more!
Frequently Asked Questions
1. How do I qualify for a home equity loan or HELOC with Phelps County Bank?
Eligibility is based on factors such as your home’s current value, the amount of equity you have, your credit score, and your debt-to-income ratio. Our team of employee-owners will walk you through the application process and help you determine the best financing option for your needs.
2. Is there a minimum or maximum borrowing limit?
Borrowing limits depend on the amount of equity available in your home and other qualifying criteria. Phelps County Bank offers competitive terms designed to meet a range of financial needs, whether you need a smaller loan or access to a larger credit line.
3. How long does the approval process take?
The timeline varies based on your individual application, but our local, in-house lending team works efficiently to provide timely decisions. Because we’re employee-owned and community-focused, you’ll benefit from quick responses and personalized service every step of the way.
4. Are there any closing costs or fees associated with a home equity loan or HELOC?
Yes, there may be some closing costs or fees, including appraisal fees, title fees, or recording charges. However, we’re transparent about all potential costs upfront, and our team will walk you through what to expect before you commit.
5. How do I access funds from my HELOC?
Once approved, you can access your home equity line of credit through online banking, mobile app transfers, in-branch withdrawals, or special checks, offering flexibility when you need it most.
The equity in your home can be a valuable asset. The PCB lending team can help you use your available equity for everything from vacations and major purchases to unexpected expenses and debt consolidation. Best of all, the interest on the loan is often tax deductible. PCB offers two convenient home equity options.