Home Equity Line of Credit

*APR is Annual Percentage Rate. After 6-month fixed introductory period, the index used to determine the interest rate is the Wall Street Journal Prime Rate (7.5% as of 12/08/24) minus a margin of 0.50%. Rate is variable and will change. Minimum variable APR will not be less than 4% and maximum variable APR will not exceed 15.5%. Promotional rate effective as of April 1, 2025. Rate is subject to change without notice. Promotion may be cancelled at any time. Requires a deposit account with BVNB with an ACH deposit or withdrawal. If not established within 30 days of closing, rate will immediately adjust to 2% over prime lending rate. Closing costs range from $600 to $1,300. HELOC is to be secured by an owner-occupied 1-4 family residence. HELOC has a 10-year term and payments will be due monthly. Monthly payment will equal the amount of accrued finance charges on the last day of the billing cycle with a minimum of $100. The minimum monthly payments will not be sufficient to fully repay the principal that is outstanding on your line of credit at the end of 10 years. At the end of this period, your HELOC could have a balloon payment due. HELOC approval is subject to credit underwriting guidelines.