Home Equity Line Of Credit

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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) can help, whether it’s a remodeling project or debt consolidation.

  • Rates as low as 5.25% APR*.
  • No Closing Costs if the loan is kept open for 36 months.
  • No annual fee.
  • Flexible Payment options – interest only or principal and interest.
  • Interest may be tax deductible. Consult your tax advisor.

All loans are subject to credit approval. 

3 Easy Ways to Apply

  1. Apply Online.
  2. Call us at 804.419.8919.
  3. Stop by your local branch.
*Not a commitment to lend. Offer is open to current and new Village Bank customers. The lowest APR (Annual Percentage Rate) offered is 5.25%, 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 September 27, 2018, the Prime Rate was 5.25%), plus a margin of 0.00% for the life of the loan. Automatic deduction of payment is required from a Village Bank checking account to obtain 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