Home Equity Loans/Lines of Credit
Maybe you need money for home improvements or to cover educational expenses. Perhaps you’d like cash to take a well-earned vacation or consolidate your bills into one easy-to-manage monthly payment.
If you are a homeowner, we can help. Our Home Equity Lines of Credit and our Home Equity Fixed Rate/Fixed Term Loans are two great ways to get the funds you want. Even if you don’t have available equity, you may save by refinancing with a lower rate from HVB.
At HVB, you can borrow up to 80% of your home’s equity on fixed home equity loans or home equity lines of credit even if you don’t have a mortgage with us. Approvals are based on credit, income, and the appraised value of your property. HVB will be the first or second mortgage lien holder on your primary residence.
Regardless of which option you select, there are no application fees or annual fees. You also qualify for our discounted Auto-Pay rate if you have your monthly loan payment automatically deducted from a HVB savings or checking account.
See the attached important disclosures:
Early ARM Disclosure for Equity Loan Preferred Rates
Consumer Handbook on Adjustable Rate Mortgages for Preferred Rates Product
Home Equity Line of Credit – For Maximum Flexibility
A HVB Home Equity Line of Credit is an excellent way to ensure that you have ready access to needed funds up to 80% of your home's equity.
Once approved, you’ll receive special checks so you can write yourself a loan whenever you choose. This gives you the flexibility to borrow cash at the time you want and in the amount you need. We offer credit lines from $7,500 to $100,000 or more. You only pay interest on the money you actually borrow. The interest you pay on your Home Equity Line of Credit may even be tax deductible. Be sure to ask your tax advisor.
As you repay the principal, these funds become available again for your use. There are no renewal fees.
See the attached important disclosures:
What you should know about home equity lines of credit
HELOC Important Terms Disclosure
Property insurance is required on all loans.
Information about current rates, Annual Percentage Rate (APR), and service charges is contained in these disclosures. Ask for and read all disclosures before applying for any account.
*Minimum rate: 4.25%. Maximum rate: 18.00%.
Home Equity Fixed Term/Fixed Rate Loan – For Simplified Budgeting
This excellent borrowing option is for customers who prefer the advantages of a fixed term/fixed rate loan.
You can borrow from $7,500 to $200,000 for terms of 3 years to 20 years. There are no annual fees, no application fees, and no closing costs. You know exactly what you will be paying each month. You also get our discounted Auto-Pay interest rate when regular payments are made from a HVB checking or savings account. Your interest may even be tax deductible, so ask your tax advisor.
Property insurance is required on all loans.
Disclosures are available upon request. Information about current rates, Annual Percentage Rate (APR), and service charges is contained in these disclosures. Ask for and read all disclosures before applying for any account.
*Minimum rate: 4.25%. Maximum rate: 18.00%.
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