Home Equity Lines & Loans

Use the equity in your own home for improvements, purchases or debt consolidation.

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It's your home and your equity - make the most of it.

Every journey to success starts at home. If you have a goal to consolidate your debt or make a large purchase, you can use the equity you’ve built in your home to help get you there! Whether you’d like a fixed-rate loan, or the flexibility that comes from a line of credit, you’ll find an option that works for you and your family.


 

Home Equity Line of Credit Special

Home Equity Line of Credit Promotion

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* Introductory APR shown effective for the first 12 months.  After the introductory period the Annual Percentage Rate (APR) may vary monthly and will be based on the Prime Rate as listed in the Wall Street Journal (Prime) plus a margin.  Rates effective as of 01/01/2022.  Personal Premium Checking account is required to get the intro APR.  After the introductory rate period the rate will be set at Prime +0.00%.  Other terms, conditions and restrictions apply.  Subject to credit approval.  Minimum draw of $25,000.00 at loan disbursement, which must be maintained for minimum of 90 days from initial disbursement. 10 Year Variable Rate Draw Period and 15 Year Variable Rate Repayment Period. Conditional approvals provided within 2 business days. Your APR will vary monthly if the Prime Rate changes but will not exceed 18.00% or be less than 3.25%.  Check the Wall Street Journal for the current Prime Rate.  If property is held in a Trust a review fee may apply.  Property insurance is required.  Flood insurance where required by law.  1-4 family, owner occupied primary residences only.  Maximum loan-to-value of 80%.  Consult your tax advisor regarding the deductibility of interest.  Additional restrictions may apply.  FEES AND CHARGES: To open and maintain a line of credit, the following fees apply: Application fee: $0.00 (due at application); Points 0.00% of credit limit (due when account is opened). Fees charged to the customer will apply under the following circumstances: Annual Maintenance Fee of $50.00 (Annual Maintenance Fee will be waived if the tax reporting owner has a Personal Premium Checking account); if the line is closed within 2 years from the note date an Early Termination Fee of the lesser amount of the closing costs paid by the Bank for this loan or $350.00 will apply; If the loan amount is greater than $250,000 and in first position, the Borrower will be required to pay for Title Insurance Policy, Municipal Lien Certificate, and Survey Deletion Letter. These fees generally total between $650.00 and $1,500.00.



Home Equity Loans

Don’t put off your home improvement plans for another day! Use our Home Equity Loans to make some of those long-awaited upgrades. Home Equity Loans can also be used to manage other costs like student debt or a new vehicle, while giving you the security and stability of a fixed monthly payment.

Our Home Equity Loans offer:

  • Low closing costs
  • Fast turnaround times
  • Various terms and competitive rates
  • In-house loan servicing


Home Equity Lines of Credit (HELOC)

Long projects and big surprises often mean unexpected expenses. A Home Equity Line of Credit (HELOC) gives you the flexibility of a credit card without the elevated interest rate. Our HELOC accounts help you get over financial hurdles by accessing the home equity you’ve already established.

Get started with a Home Equity Loan or Home Equity Line of Credit from Centreville Bank today! Visit your local branch or contact a Loan Officer for details.