Home Equity Line Of Credit

Introductory rate for 12 months.

3.99%* APR

Limited time only.
Rates are subject to change.

Variable-rate after the introductory period.

4.75%** APR

Rates may vary and are subject to change.
Rates range between 4.75% and 8.25%.

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You can also call us at 804.897.6000 or stop by your local branch.

You put a lot of time and money into your home. Why not get more out of it? A Home Equity Line of Credit (HELOC) is a smart personal loan choice if you have sufficient equity in your home and good credit. Whether you need money for a home improvement project, those unexpected expenses that pop-up, or debt consolidation, a HELOC should be a consideration.

Interest rates on home equity and mortgage financing are typically lower than credit cards or personal loans, which could mean lower monthly payments for you.

Flexibility & Control
  • Special introductory rate of 3.99% for 12 months. Then rates as low as 4.75% APR*.
  • No minimum draw requirement.
  • No closing costs if the line is kept open for 36 months.
  • No annual or application fees.
  • Flexible payment options – interest only or principal and interest.
  • You decide when and how you will use your line of credit.
  • The line of credit is secured by the equity in your home.
  • Low-interest rates and low monthly payments.
Do I have enough equity in my home?

Home equity is the value remaining in your home after subtracting your mortgage balance, or any other outstanding liens. A realtor can help you estimate your home’s market value by providing a list of comparable sales.

Example Home Equity Calculation

The Village Bank Loan Approval Process

The Village Bank Loan Approval Process

All loans are subject to credit approval. 

3 Easy Ways to Apply

  1. Apply Online.
  2. Call us at 804.897.6000.
  3. Stop by your local branch.
*HELOC Special Introductory Rate Disclosure: Home Equity Line of Credit 3.99% Introductory Annual Percentage Rate (APR) is based on a minimum line size of $10,000. The Introductory Interest Rate will be fixed at 3.99% during the 12-month Introductory Period. After the 12-month introductory period: the APR is variable and is based upon an index plus a margin. The APR will vary with Prime Rate (the index) as published in the Wall Street Journal.

**Not a commitment to lend. Offer is open to current and new Village Bank customers. The lowest APR (Annual Percentage Rate) offered is 4.75%, which is a variable rate, and is subject to change. All balances will be calculated at a standard variable APR as indexed to The Wall Street Journal Prime Rate (as of October 31, 2019, the Prime Rate was 4.75%), plus a margin of 0.00% for the life of the loan. An automatic deduction of payment is required from a Village Bank checking account to obtain the advertised rate. The maximum APR is 18%. This Village Bank Home Equity Line of Credit has a 10-year draw period with a final balloon payment. If you make only the minimum payments, you may not repay any of the principal balance by the final payment. There is no origination fee charged to open. Other fees may be charged at origination, closing or subsequent to closing, ranging from $0 to $1,000. Offer is subject to credit approval and is based on a minimum equity line amount of $75,000 with a maximum combined loan-to-value of 75%. Applicants must possess a Beacon Score of 740 or greater. All loans are subject to credit approval. Bank must be in a valid first or subordinate lien position on the collateral. Bank will pay all closing costs for non-purchase money first lien or subordinate equity lines. Home Equity Lines of Credit closed within 36 months from the opening date will be required to reimburse the bank for any closing costs paid on behalf of the borrower. Property insurance and flood insurance, where applicable, will be required. Minimum line size is $10,000. Maximum Line size is $350,000. This offer is limited to primary single-family residential real property located in the Bank's geographic lending area. Please consult a tax advisor regarding interest deductibility. Certain conditions and restrictions may apply.

Interest Only product disclosure
Principal and Interest product disclosure