An FVCbank home equity line of credit (HELOC) provides homeowners with the ability to establish a line of credit, secured by the available equity built in their home. A home equity line of credit can be used for a variety of reasons, including home improvements, debt consolidation on high-interest credit cards, unexpected expenses and more.
FVCbank’s HELOC is a revolving line of credit, allowing homeowners the option of borrowing up to 80% of their home’s value.
Your interest rate is at a low Wall Street Journal Prime rate plus 1.50%. Your rate may vary monthly.
*Annual Percentage Rates (APR) as of 5/23/22 on FVCbank Home Equity Lines are the WSJ Prime plus 1.50%. Rates may vary and are indexed to the Prime Rate as printed on the last business day of each month in The Wall Street Journal. Minimum APR is 4.75% and the maximum APR will not exceed 18%.
*Closing costs for the Home Equity Line of Credit products may range from $300.00 to $7,000.00. Minimum Home Equity Credit Lines are $10,000.00. Property insurance is required. Rates are subject to change. Some restrictions may apply. Please consult your tax advisor or local tax office regarding possible tax advantages.