Personal Banking /

Consumer Loans

A new car, vacation getaway, engagement ring.

Mercantile offers a wide variety of loan products to help you finance your dream. Of course, so does every other bank. At Mercantile, we do things a little differently, we focus on you.

Mortgage Loans

Whether you are buying a new home or refinancing, Mercantile Bank offers a wide variety of mortgage loan products to fit your specific needs. We've carefully assembled a staff of experienced and talented mortgage professionals who make it their mission to understand your unique situation and provide you with the service you desire.

Find a Mortgage Lender

Visit our Mortgage Loan Center

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Home Equity Loans

Home Equity Term Loan
This is a fixed rate or ARM loan with fixed payments over a fixed term, loan funds are disbursed in a single advance upfront with the balance paid down over time. Fixed and adjustable rate loans available.
Home Equity Line of Credit (HELOC)
This is a variable rate revolving line of credit, makes funds available as you need them on an ongoing basis.


Personal Loans

For everything from vacations to engagement rings and much, much more. May be secured (you borrow against collateral) or unsecured (no collateral).

Automobile and RV Loans

Mercantile Bank puts you in the driver's seat with our quick and easy loans for cars, motor homes, travel trailers, boats, motorcycles, snowmobiles and more!

Electric Vehicles

Looking to buy an electric, hybrid or fuel-efficient vehicle? We make it easy with rates and terms to fit your budget.

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Overdraft Protection

Protect yourself from unexpected cash-flow shortages and help prevent overdraft fees. Overdraft protection is a line of credit attached to your checking account that automatically transfers funds into your account when the balance falls below zero. It is best for individuals who want protection against unexpected cash-flow shortages and overdraft fees.

  • Available to qualified applicants.
  • No per-transfer charge.
  • Protection ranges from $500 to $5,000.
  • Minimum monthly payment of $20 or 2% of the outstanding balance, whichever is greater. A billing statement is sent monthly.

Student Loans

Wherever you are in your higher education, get the money you need for school. Student loans from Mercantile Bank in partnership with Sallie Mae® could help!

Learn More

To explore any of these options - or any loan not on the list - call or visit your nearest branch location.

Consumer Loans FAQs

Yes, you may pay off your loan prior to maturity without penalty.

The higher your credit score the better your interest rate will be.

Your interest rate will depend on a number of factors including but not limited to: type of loan, credit score, type of collateral, and age of collateral. Please ask your lender for additional information.

No, we do not require you to have a deposit account with Mercantile Bank in order for you to be approved for a loan; however, we would love for you to consider having your deposit account(s) with us. We have several different accounts to choose from and as an added bonus if you have automatic debit of your loan payment from your Mercantile Bank account we will give you a .25% discount on your loan rate (applies to installment loans only).

How long the process takes depends on the type of loan you have applied for and how quickly we can obtain the necessary supporting documentation. A Consumer Loan can typically be approved and closed in the same day; however, a Home Equity Line of Credit (HELOC) will take 14 business days or longer depending on the complexity of the transaction. On a Consumer Loan you will receive the funds the same day as closing. On a HELOC it may take an additional three business days to receive the funds if the loan is subject to rescission. Please ask your lender for additional information.

Fees will vary depending on the loan type. Please ask your lender for additional information.

We can secure Consumer Loans with automobiles, motorcycles, travel trailers, ATVs, boats, snowmobiles, and some other additional consumer goods. Home Equity Lines of Credit can be secured by primary or secondary residences that are stick built or modular homes.

The documentation needed will depend on the type of loan you are applying for. For a Consumer Loan we may need income documentation such as a current paystub or if you are self-employed your last two tax returns; collateral information, such as a vehicle title or dealer invoice; and insurance information. For a HELOC we will need income information, legal description of the property, homeowner's insurance, and a recent tax or assessor's statement. Please ask your lender for additional information.

Yes, we can set up automatic payments to be pulled directly from your deposit account. As an added bonus if your payment is pulled from your Mercantile Bank deposit account we will give you a .25% discount on your loan rate (applies to installment loans only).

Mercantile’s Lienholder Identifier Number with the State of Michigan is LH117727. Please provide this number to the dealership at the time you are purchasing your vehicle.

Please note that by using this link, you will be leaving Mercantile Bank's (the 'Bank') web site. The Bank takes no responsibility and makes no warranties, either expressed or implied, for any of the services, products or information available via this outside web site. The Bank is not responsible for and does not monitor the content, performance, policies (including any privacy policies) or administration of this outside web site, which are the sole responsibility of their creators and do not represent, explicitly or implicitly, positions, policies or opinions of the Bank, its affiliates, its employees or its Board of Directors.