FirstMerit Bank offers financing options that match customer's budgets. The bank's Home Equity Loan provides money in one lump sum and customers make fixed monthly payments until the loan is paid off. It offers competitive rates on various terms. Customers can borrow up to 90% of the equity and the loan amounts vary from $10,000 to $500,000. The bank's Home Equity Line of Credit has features such as competitive rates on all line sizes, lines of credit up to 90% of the equity, line amounts from $10,000 up to $500,000, flexible repayment options, interest-only repayment option and provides flexibility to make the payment that fits monthly budgets. These loans are available for a major purchase like a car or boat, paying college tuition, planning to consolidate debt or make home improvements.