Home Equity

Line of Credit

A home equity line of credit (HELOC) is a fast, affordable and convenient way to take advantage of the equity you have in your home.

Benefits

Funds are available when needed without having to go through an application process every time you want to borrow money
Flexible payment option
The interest may be tax deductible (consult your tax advisor)
Source of emergency cash

Popular Uses

Home improvements
Education expense
Payoff high interest debt

How do I access my HELOC?

By writing a check drawn on the HELOC account
Internet Banking transfer
Phone transfer
Request a draw in person from a teller

Why choose Greenville National Bank for your HELOC?

NO ANNUAL FEE (some banks charge an annual fee of $50 or more)
Variable interest rate at a low competitive rate
Low closing costs

Closing cost range from $294.00 to $1,074.00

Closing cost credit of $200.00
Stop payment fee of $30.00
Over limit charge of $15.00
7.50% APR- 11.25% APR - variable rate that can change monthly based on an index (Wall Street Journal Prime) plus margin of -0.25 - 3.50 (your rate and margin are based on credit score and appraisal)
Maximum APR of 21.00%
You must carry property insurance

Fixed Rate Second Mortgage

If you prefer the stability of a fixed rate, our home equity loan option may be right for you. This option provides you with a fixed monthly payment over a fixed term. With this option, you receive all of the loan proceeds in a lump sum at loan closing, which can be used for things like debt consolidation, home improvements, schooling, vacations, investments, and more.