Virginia Home Equity Line of Credit
Lender | APR (%)? | Min. Initial Draw Amount |
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---|---|---|---|
![]() Figure Home Equity Line Equal Housing Lender |
Always FIXED rates from 4.99% APR. Approval in 5 minutes, funding in 5 days. |
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More Info |
|
![]() Third Federal Savings and Loans Equal Housing Lender |
3.740 %
|
$0 |
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![]() Atlantic Union Bank Equal Housing Lender |
4.750 %
|
$15,000 |
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Regions Bank Updated 2019-12-09 |
Intro APR 0.990 % After Intro: 5.625 % Intro Period: 6 months |
$0 | |
American National Bank Updated 2019-12-09 |
5.250 %
|
$0 | |
Fulton Bank Updated 2019-12-09 |
Intro APR 3.740 % After Intro: 5.000 % Intro Period: 12 months |
$0 | |
Chase Updated 2019-12-09 |
6.250 %
|
$30,000 | |
Navy FCU Updated 2019-12-09 |
5.000 %
|
$0 | |
Corporate America Family CU Updated 2019-12-09 |
4.750 %
|
$0 | |
Bank of America Updated 2019-12-09 |
5.620 %
|
$50,000 | |
HSBC Updated 2019-01-29 |
6.375 %
|
$25,000 | |
First National Bank Updated 2019-12-09 |
4.750 %
|
$0 | |
BB&T Updated 2019-12-09 |
Intro APR 3.340 % After Intro: 4.590 % Intro Period: 12 months |
$15,000 | |
M&T Bank Updated 2019-12-09 |
5.590 %
|
$0 | |
Northwest FCU Updated 2019-12-09 |
4.500 %
|
$0 | |
United Bank Updated 2019-12-09 |
5.000 %
|
$0 | |
Washington Trust Bank Updated 2019-12-09 |
5.500 %
|
$0 | |
Towne Bank Updated 2019-12-09 |
5.250 %
|
$0 | |
State Farm Bank Updated 2019-12-09 |
6.100 %
|
$0 | |
TD Bank Updated 2019-12-09 |
4.790 %
|
$0 | |
Data from above provided by Informa Research Services, Inc. |
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Wells Fargo Bank, National Association Updated 12/02/2019 |
4.750 % | Varies | |
Td Bank, National Association Updated 12/02/2019 |
4.750 % | Varies | |
Alliant Credit Union Updated 08/26/2019 Restrictions |
4.750 % | Varies | |
Pnc Bank, National Association Updated 12/02/2019 |
4.990 % | Varies | |
Bb&t Updated 06/25/2019 |
4.990 % | Varies | |
Suntrust Bank Updated 06/25/2019 |
5.000 % | Varies | |
Northwest Credit Union Updated 08/26/2019 Restrictions |
5.000 % | Varies | |
Bank Of America, National Association Updated 12/02/2019 |
5.150 % | Varies | |
Armed Forces Bank, National Association Updated 06/25/2019 |
5.240 % | Varies | |
Pentagon Credit Union Updated 09/10/2019 Restrictions |
5.500 % | Varies | |
Chartway Credit Union Updated 08/26/2019 Restrictions |
5.500 % | Varies | |
Virginia Credit Union, Inc., Credit Union Updated 06/03/2019 Restrictions |
5.500 % | Varies | |
Citibank, National Association Updated 12/02/2019 |
5.590 % | Varies | |
Navy Federal Credit Union Credit Union Updated 08/27/2019 Restrictions |
5.750 % | Varies | |
Data provided by BestCashCow |
APR (Annual Percentage Rate) is the rate that incorporates monthly compounding charges to express the a finance charges as an annual rate.
1Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.
The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where and in what order products appear. Compensation is higher for Featured placements. This table does not include all companies or all available products.
Rates from this table are based on loan amount of $50,000 and a variety of factors including credit score and loan to value ratios. Rates may change at any time and are not guaranteed to be correct. For specific requirements please check with the lender.
Home Equity Line of Credit (HELOC) Rates
Home equity lines of credit (HELOCs) are loans secured against the equity in your home, They are typically less costly and more flexible than home equity loans. Since they are lines of credit, the borrower only draws the amount that they need and only pays interest on that amount. The amortization schedule ordinarily does not require payback of the principal drawn until year 10 (HELOCs are, therefore, technically “interest only” loans until that time).
HELOC lenders will lend up to 90% the value of the equity in your home and the typical HELOC line is from $200,000 up to $500,000.
How to Find the Best HELOC Rate
As you see in the table above, the pricing of a home equity line of credit varies from lender to lender. HELOC rates are based on the prime lending rate (“prime”) - the rate that commercial banks charge their most creditworthy customers. Most lenders add on a margin above the prime rate. The average HELOC rate is 0.00%.
Risk to HELOCs
HELOC rates fluctuate. Repayment terms are tied to the prime lending rate and that rate is likely to move up – perhaps dramatically - over the next few years as the Federal Reserve raises the Fed Funds rate. A 10-year home equity loan or a 15-year home equity loan, however, may be a safer option at this time. Depending on your personal circumstances, you should also consider mortgage refinance options.