Home Equity Line of Credit
As a homeowner, you can now gain access to the equity in your home through Blue Ridge Bank's Easy Access Line of Credit. Whether you want to buy a car, take a vacation, remodel a room or consolidate high interest credit cards, the Easy Access Line of Credit can help meet your needs, and it's easy.
Once your loan is established, you just write a check. You will only be charged interest on the money you use and still have the remaining funds available for future needs.
With our LEVEL 1 Line of Credit, you can borrow up to 80% of the value of your home at a variable rate of PRIME - 1/2% (Prime currently 3.25% Floor Rate is 5.00%). View and download the full disclosure and application by clicking Level 1 Application.
The annual percentage rate will be based on a range from 5.00% APR (Floor Rate) (as defined in the Wall Street Journal, Midwest Edition, as of December 17, 2008) to Prime. The APR may change monthly, but will not exceed 24.00% APR (Ceiling Rate).
$5,000 minimum credit line to open plan. Property insurance required. Other finance charges may include (points) $125 at modification of existing plan. Minimum monthly payments will be equal to the accrued finance charges or $100, whichever is greater. At maturity, you will be required to pay the balance in a single "balloon" payment. Consult your tax advisor for deductibility.
Lock a Portion of Your Line
For more information contact our Customer Service Center at (816) 795-9933 or email email@example.com.
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