Home Equity Line of Credit (HELOC)
Our HELOC bridges the gap between “I wish I could” and “Wishes really do come true.” That’s because we believe finances aren’t a good enough reason to put your dreams on hold. Whether it’s that new kitchen, a once-in-a-lifetime vacation, or a family wedding – you shouldn’t have to feel like your dreams are out of reach because of money. The truth is, living out your dreams is as close as the house you’re living in, right now. With a HELOC from John Marshall Bank, your home can serve as both a source of comfort and funding. It’s as simple as borrowing today and believing in tomorrow.
After Your Introductory Period, You Can Choose Between Two Rate Options:
|Wall Street Journal Prime Minus .50%1
This option allows for a rate reduction using your John Marshall Bank personal
deposit account with the automatic debit of your Home Equity Line of Credit (HELOC) monthly payment.
|Wall Street Journal Prime Plus .50%2
You may apply for a HELOC without a John Marshall Bank personal deposit relationship.
- This is a variable-rate product, based on the Prime Rate as published in the Wall Street Journal. Annual Percentage Rate (APR) is effective 10/21/19 and subject to change. Wall Street Journal Prime rate of 5.00% Minus 0.50% = 4.50%. Minimum rate of 3.50%. Maximum rate not to exceed 18% APR.
- This is a variable-rate product, based on the Prime Rate as published in the Wall Street Journal. Wall Street Journal Prime rate of 5.00% plus 0.50% equals 5.50% APR. Annual Percentage Rate (APR) is effective 10/21/19 and subject to change. Minimum rate of 3.50%. Maximum rate not to exceed 18% APR.
The Bank will pay all your closing costs excluding title insurance, recordation fees and taxes. The HELOC must remain open for a minimum of three years or bank paid closing costs will be added to the final payoff statement. This product is for owner-occupied primary or secondary residence in the Virginia counties of Alexandria, Arlington, Fairfax, Loudoun and Prince William, Washington, DC and the Maryland counties of Montgomery and Prince George’s. For a $100,000.00 loan, your costs may range from $40.00 to $1,000.00 (not includedBank paid fees). Your actual recordation fees and taxes may be higher depending on the loan amount and property location. We charge an annual fee of $50.00. Property and flood (if applicable) insurance are required. Loan is subject to application, underwriting, loan to value ratio and approval. Maximum loan amount is $750,000.00. Interest paid on this HELOC may be tax deductible. Consult your tax advisor.
QUESTIONS or WANT TO APPLY? Contact Us Today!
SVP, Consumer Lending