- Routing #: 251082495
- Call: (804) 359-8754
Put the value in your home to work, on your terms.
A Home Equity Line of Credit (HELOC) lets you borrow against the equity you’ve built in your home and access funds when you need them, up to an approved credit limit.
Unlike a one-time lump-sum loan, a HELOC works more like a reusable line of credit: you can advance funds, repay, and borrow again, giving you flexibility for planned projects and unexpected expenses.
A HELOC can be a smart option for a variety of needs, including:
Home improvements & renovations
Debt consolidation
Major purchases
Education expenses
Emergency expenses
Large life events
(weddings, travel, relocation, etc.)
Because your home secures the line, HELOC rates may be lower than many unsecured borrowing options.
Once your HELOC is open, you can move money from your HELOC into your checking or savings account as needed—giving you convenient access without carrying cash or writing checks.
Advance requirements:
Variable Interest Rate
A HELOC has a variable interest rate based on the Wall Street Journal Prime Rate. Your rate may change if the Prime Rate changes.
Term
Actual rate and terms are based on creditworthiness, loan-to-value, and collateral requirements.
A HELOC is designed with a two-phase repayment schedule:
Phase 1:
Interest-Only Payments (First 10 Years)
For the first 10 years, your required monthly payment is interest-only on the outstanding balance.
Phase 2: Repayment/Amortization (After 10 Years)
After the interest-only period ends, any remaining balance will be amortized over the remaining term (up to 20 years, based on your loan structure), resulting in payments that include principal + interest.
A HELOC is a revolving line of credit that allows you to borrow against the equity in your home. You can access funds as needed, repay them, and borrow again—up to your approved credit limit—during the draw period.
Your available credit is based on factors such as your home’s value, the amount you still owe on your mortgage, your credit history, and your ability to repay. Our lending team will help determine the amount you may qualify for.
A HELOC can be used for many purposes, including home improvements, debt consolidation, education expenses, major purchases, or unexpected costs. Because it’s secured by your home, it can be a flexible and cost-effective borrowing option.
Funds are accessed by transferring money from your HELOC directly into your checking or savings account.
This HELOC has a variable interest rate tied to the Wall Street Journal Prime Rate. If the Prime Rate changes, your rate may change as well.
*APR=Annual Percentage Rate
For the first 120 months, payments are interest-only, meaning you pay interest on the amount you’ve borrowed but do not pay down the principal.
After the interest-only period ends, any remaining balance is amortized over the remaining term (up to a total loan term of 240 months), resulting in payments that include both principal and interest.
There are no origination fees, no points, and no annual fees for this HELOC.
However, closing costs may apply, such as appraisal, title, or recording fees. Our lending team will review any applicable costs with you before closing so there are no surprises.
Yes. The total term will not exceed 30 years.
No. A HELOC is a revolving line of credit that allows you to borrow as needed, while a home equity loan provides a one-time lump sum with fixed payments. A HELOC offers more flexibility if your borrowing needs change over time.
A HELOC may be a good fit if you want flexible access to funds, plan to borrow over time, or need a financial safety net. Our lending team is happy to help you decide what works best for your situation.
Ready to Get Started?
A HELOC can be a powerful tool when used wisely. Contact us to learn how much you may qualify for and whether a Home Equity Line of Credit fits your goals.
Call anytime 24/7
(804) 359-8754
Routing # 251082495 | NMLS#523374 | Privacy Policy
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