304 North Cardinal St.
Dorchester Center, MA 02124
304 North Cardinal St.
Dorchester Center, MA 02124
InBank is a community bank that provides a wide range of banking services to customers in the Denver metro area, northern New Mexico, and southern Colorado. When it comes to loans, InBank offers several options for personal lending, including home equity lines of credit (HELOC), residential construction loans, vehicle loans, and lot loans.
Even though InBank does not provide traditional mortgages, they still have great alternatives for financing major expenses like home improvements or buying land. Read on to learn more about the types of personal loans offered by InBank.
One of the most popular loan products from InBank is the home equity line of credit, also known as a HELOC. This type of loan allows homeowners to access funds based on the equity they have built up in their home. Equity is essentially the current market value of the home minus the amount still owed on the mortgage. So if your home is worth $300,000 but you still owe $200,000 on your mortgage, you have $100,000 in equity.
With a HELOC from InBank, you can borrow against a portion of that equity, which can be used for any purpose – debt consolidation, home improvements, medical bills, college tuition, or more. HELOCs act as revolving lines of credit, similar to a credit card. You have an approved borrowing limit and can access the funds as needed. Interest rates are variable but typically very low. And since it’s a line of credit, you only pay interest on the amount you actually use.
Some key benefits of getting a HELOC from InBank include:
For homeowners looking to tap into their home equity for major expenses, a HELOC from InBank can be an excellent option.
InBank offers highly competitive rates and terms on their home equity lines of credit. Here are some of the biggest benefits of getting a HELOC from InBank specifically:
For Denver, New Mexico, and Colorado residents looking to utilize their home’s equity, a HELOC from InBank is an excellent choice that comes with great rates, zero fees, and exceptional service.
In addition to HELOCs, InBank offers residential construction loans to clients who are looking to build a new home or finance major renovations. Like any construction project, building a home requires significant upfront capital before you can qualify for a traditional mortgage. Construction loans help bridge that funding gap.
With a residential construction loan from InBank, the funds can be used to purchase land, pay builders and contractors, and cover materials and other construction costs. The terms are generally 6-12 months, with interest-only payments due during the building phase. Once construction is complete, the loan can then be rolled into a conventional mortgage.
Compared to other lenders, some key benefits of InBank’s construction loans include:
Whether you want to build your dream home from the ground up or take on a major renovation, InBank has residential construction loan options that can turn your plans into reality.
There are several key advantages that InBank offers when it comes to obtaining residential construction financing:
With deep market knowledge and a focus on personalized service, InBank can provide the ideal financing for your next residential construction project.
For customers needing a new or used car, truck, or SUV, InBank offers competitive auto financing options. Their vehicle loans come with flexible terms tailored to individual borrowers’ needs and budgets.
InBank offers vehicle loans for a wide range of purposes – purchasing from a dealer, buying private party, refinancing existing car loans, or adding a second vehicle for the family. Loan terms are available from 12 to 84 months with competitive fixed rates and low fees.
Some key benefits of getting an InBank auto loan include:
No matter your vehicle needs, the knowledgeable team at InBank can provide customized auto financing suited to your specific situation. They make the car buying process smooth and straightforward.
There are a few key reasons why drivers in Denver, New Mexico, and Colorado should consider InBank when financing a vehicle purchase:
For personalized service, fast turnaround, competitive rates and flexible terms, InBank is an excellent financing choice when shopping for your next vehicle.
InBank offers specialized lot loans to provide financing for vacant land being purchased to construct a home on. These loans help buyers secure the perfect lot while they work on designing and building their dream home.
Lot loans from InBank provide financing specifically for the land purchase. The terms are shorter than a traditional mortgage, typically 1-5 years. This gives the buyer time to complete construction and eventually convert the loan into permanent mortgage financing.
Some key benefits of lot loans from InBank:
For those looking to build their own custom home, lot loans from InBank allow you to first secure the best location before finalizing construction plans and obtaining permanent financing.
Financing vacant land with a lot loan from InBank provides several unique advantages:
For buyers who have dreams of building their perfect home on picturesque acreage, InBank has the knowledge, resources, and lot loan products to make it happen smoothly.
With a wide variety of lending products for personal and business customers, one type of loan that InBank does not currently provide is traditional mortgage financing. Many banks and lenders have mortgage offerings, so why hasn’t InBank expanded into that market?
There are a few key reasons why InBank has not yet ventured into providing traditional mortgages:
While traditional home loans are not offered, InBank provides excellent alternatives they have targeted based on serving customer needs in their specific markets.
Despite not providing traditional mortgage products, InBank still offers some excellent alternatives for financing real estate and construction projects:
So while you cannot get a basic mortgage, InBank provides localized products they specialize in for real estate investment and financing needs in their communities.
InBank offers a diverse set of personal lending solutions including HELOCs, auto loans, construction financing, and lot loans. Their options are targeted based on the unique needs and opportunities within their local markets in Denver, New Mexico, and Colorado. With strong customer service, fast approvals, and competitive rates, InBank provides financing options to suit your budget and life situation. When exploring loans, consider the advantages and specialized offerings from InBank tailored to your neighborhood.