Community banking without compromise.

Home Equity Line of Credit (HELOC)

Access the equity in your home with a Chain Bridge Bank Home Equity Line of Credit (HELOC).

Uses: Home improvements, auto purchase, college tuition, refinance or consolidation of existing loan(s), emergency expenses, or anything else you desire.
Benefits: Interest rates are typically lower than other consumer credit. Access funds via check, internet transfer, or by contacting a personal banker. Repayment of principal is flexible and monthly payments are interest only. Interest paid may be tax deductable (consult your tax advisor).
Interest Rate: All interest rates are variable based on Wall Street Journal Prime (WSJP), floating, loan amount, and combined loan-to-value (CLTV).
Repayment: Flexible. Monthly payments of interest only based on the amounts borrowed. As you pay down your line of credit balance, you can borrow again up to your credit limit. Payments are automatically deducted from your Chain Bridge Bank account.
Term: Ten (10) Years
Collateral: 1st or 2nd Lien on Primary Residence
Fees & Costs:

No annual fees! The Borrower will be responsible for all closing costs, fees and expenses.
Information:

Consumer Loan Application Income Verification:

Loan Amount of $25k to $250k: W-2 & 2 Paystubs or Income Tax Returns;
Loan Amount of < $250k: 2 Years Income Tax Returns
Self Employed: 2 Years Personal & Business Income Tax Returns

 

Property Insurance
Current Mortgage Statements for all liens on subject property