Home Equity Line of Credit*
For most homeowners, a Home Equity Line of Credit* is one of the easiest and most economical ways to borrow. You can use the equity in your home to consolidate high interest rate bills into one monthly payment. Or finance major expenses such as college tuition, home remodeling and renovation – even vacations, new vehicles and more!
Vectra Bank is currently offering a Home Equity Line of Credit with a variable rate of Prime minus 0.50% for the life of the line. Rates as low as 5.00% Variable APR on a Home Equity Line of Credit.* Advertised APR assumes excellent credit. Your APR may be higher.
With a Home Equity Line of Credit, you apply only once and then you may use your credit line whenever you want. To access your line, simply write a check. Repay and your credit line is replenished. You may use your credit line over and over, so it's great for recurring bills like college tuition paid quarterly, or expenses that will occur in stages, such as home remodeling. It also gives you peace of mind if you simply want to have extra cash available whenever you need it. Naturally, you pay interest only on the amount you actually borrow.
Because your residence secures your line of credit, your interest is almost always lower than with other forms of borrowing. In addition, please consult with your tax advisor about the tax deductibility of interest payments on your Home Equity Line of Credit.
We’re ready when you are.
Complete the form below and we’ll contact you about a Home Equity Line of Credit from Vectra Bank.
If you need assistance in deciding which loan is right for you or if you prefer to apply over the phone, please call us at 844–210–3604. You can also visit one of our personal bankers at a branch near you.
**Important Details**
* Loans subject to credit approval. Terms and conditions apply. Offer applies to new home equity lines of credit.
Minimum line amount is $10,000. Annual fee is $75 after first year. Checks written for less than $250 are
subject to a fee of $15. Collateral must be owner-occupied single family residential property, a secondary
residence, or vacation property. Property insurance is required. Add 0.50% for investment properties. Offer
subject to change any time. Advertised APRs are current as of
. APRs are subject to change without
notice. Rates as low as 5.00% APR which assumes excellent credit and is for a loan in first lien position.
For loans in a second lien position add 0.35%. Final APRs will be based on commitment amount, loan-to-value,
lien position and credit worthiness. The advertised APR is based on the Wall Street Journal Prime Rate (5.50%
as of
) minus a 0.50% discount for the life of the line. For loans less than $250,000, the client is
responsible for a $99.00 flat fee which covers all closing costs, origination fees, and appraisal costs.
For loan transactions that exceed $250,000, the client is responsible for the $99.00 flat fee plus the cost
of an appraisal. Average appraisal costs range from $550-$750 depending on line amount and other factors.
Other terms and conditions apply. Other rates and terms are available. Contact bank for details.
Terms and conditions apply. See Home Equity Line of Credit Terms and Disclosures.
NMLS #467014
