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HELOC

Dream - home - tuition - travel
Dream - home - tuition - travel

Home Equity Line of Credit (HELOC)

 Our HELOC Helps You Live Your Dreams

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 tuition fees – 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.

You Can Choose Between Two Rate Options:

Wall Street Journal Prime Minus 1.00%1

Get a rate reduction using your JMB personal primary checking account and your direct
deposit of your income with the automatic debit of your HELOC monthly payment.

OR

Wall Street Journal Prime Plus 0.50%2

You may apply for a HELOC without a John Marshall Bank personal deposit relationship,
but you don’t have the advantage of a discounted rate.

How do JMB HELOCs work?

The equity accrued in your home can be an excellent financing source for a variety of needs. If you have multiple loan requirements spread out over a period of time, then a HELOC is the perfect option for a personal loan.

Our HELOC has a 25-year term with competitive rates. The first 10 years is your draw period where you can borrow and repay and you are only required to pay monthly interest. The second 15 years is your repayment period where you will repay principal and interest and can no longer advance the line.

  1. This is a variable-rate product, based on the Prime Rate as published in the Wall Street Journal. Annual Percentage Rate (APR) is effective 7/27/2023 and subject to change. Wall Street Journal Prime rate of 8.50% Minus 1.00% = 7.50%. Minimum rate of 3.99%. Maximum rate not to exceed 18% APR. This rate requires auto debit from a John Marshall Bank personal primary checking account with your direct deposit of your income and automatic debit of your monthly payment, opened and funded prior to closing.
  2. This is a variable-rate product, based on the Prime Rate as published in the Wall Street Journal. Annual Percentage Rate (APR) is effective 7/27/2023 and subject to change. Wall Street Journal Prime rate of 8.50% plus 0.50% = 9.00% APR. Minimum rate of 3.99%. Maximum rate not to exceed 18% APR.

The Bank may 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 cities and counties of Alexandria, Arlington, Fairfax, Loudoun and Prince William, Washington, DC and the Maryland county of Montgomery. For a $100,000.00 loan, your costs may range from $40.00 to $1,000.00 (not included Bank 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. This HELOC has a 25 year term. The first 10 years is the Draw period with interest only payments followed by the 15 year Repayment period with principal and interest payments.

Live Out Your Dreams Today

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