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Loans and Lines of Credit

Overdraft Line of Credit

Overdraft Protection is a line of credit tied to your personal checking account. This line of credit has no term and will be activated if you write a check for more than your available balance.

Our Overdraft Protection Line of Credit has a fixed rate and carries a maximum credit limit of up to $10,000.00 Payments are variable at 5% of the outstanding principal balance of $25.00, whichever is greater, on the line and are deducted from your John Marshall Bank checking account monthly.

CD Secured Loan

Our CD-secured loan is for depositors who have a certificate of deposit (CD) with John Marshall Bank. With a CD secured loan, account owners can borrow against the money invested in the CD without having to physically withdraw the funds and pay an early withdrawal penalty (subject to application and underwriting qualification). The interest rate you pay is set at 2% above the Annual Percentage Yield of the CD, making your effective cost on this loan 2% over what you earn on the same funds in the CD. The term is set to coincide with the maturity of the CD.

Personal Term Loans and Lines of Credit

John Marshall Bank helps you find the loan or line of credit that’s right for you. We offer both secure and unsecured choices, so you can get the rates, terms and payment options to fit your needs.

Auto Loan

Shopping for a new or used car? Let us help you with the financing. We offer terms based on the model year of your vehicle, amortized for a set number of months with fixed monthly payments for the life of the loan. We will finance up to 100% of the purchase price on all new vehicles.

Mortgages

Home Equity Line of Credit (HELOC)

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

Our HELOC has a 20-year term. 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 ten years is your repayment period where you will repay principal and interest and can no longer advance the line. The rate is variable and is tied to the Wall Street Journal Prime rate plus a margin. Advances from the HELOC are as easy as writing a check, with a minimum advance of $100.00.

HELOC’s are available for owner-occupied, or second home properties located in the Washington, D.C., metropolitan area only.

The interest paid on your HELOC may be tax deductible. Please consult with your tax advisor to be sure.

Bridge Home Equity Line of Credit (HELOC)

Looking to sell your old house and buy a new one but your settlement on the new house is happening before you complete the sale of your old house? Let John Marshall Bank finance that for you with a short-term Bridge HELOC.

We offer a variable rate Bridge HELOC for owner occupied or second home residential properties located in the Washington, D.C., metropolitan area only.

First Trust 6/5 Adjustable Rate Mortgage (ARM)

A first trust mortgage loan can be used to secure the purchase of your home or to refinance your current mortgage. The rate is fixed for the first 6 years and is tied to the US treasury five-year rate plus a margin. We offer this mortgage on owner occupied residential properties located in the Washington, D.C.,  metropolitan area only. Monthly payments are amortized with principal and interest payments.

Residential Construction Loan

A residential construction loan can be used to finance the land and/or construction on which to build your dream home or for remodeling an existing home. We offer both a fixed rate and a variable rate option to give you greater flexibility.

Construction loans must be for owner occupied, residential properties located in the Washington, D.C., metropolitan area only.

We’d love to talk about how we can help you better manage your money—and your time.