The
SpencerFlex Line of Credit provides
you with maximum borrowing flexibility.
A SpencerFlex Line of Credit is ideal for people who borrow and repay large amounts of money over short periods of time, or for those who wish to have a cash resource available for unexpected expenses. Unlike Home Equity Loans, interest is only paid on the balance in use and the credit amount replenishes itself as payments are made.
A Line of Credit offers an excellent variable rate, which is subject to change monthly and is restricted by a lifetime "cap." With our unique "Flex" conversion feature, you are able to change all or a portion (minimum of $25,000) of your outstanding balance to a fixed rate when you feel the time is right without having to reapply.
A SpencerFlex Line of Credit means:
• Interest rates change periodically based on the Prime Rate
• Convenient credit line checkbook
• Interest only paid on the outstanding balance
• Interest may be tax-deductible (consult with tax advisor)
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