Looking for help to remodel your home, buy a new car, enjoy a dream vacation, cover tuition or consolidate debt? A home equity line is a smart, convenient way to borrow money at an attractive rate.
A home equity line uses the equity you’ve built in your home to secure a line of credit. Assuming you have sound credit, you can typically apply for a home equity line of credit of up to 80% of your home's value (less what you still owe).
Once approved, your home equity line becomes a revolving credit resource. To access your line, you simply write a check from your home equity line of credit or request an advance at any branch location. As you borrow and repay funds, the amount available on your line of credit adjusts accordingly.
Not only does a home equity line provide easy access to funds, the interest may be tax-deductible. Consult your tax advisor for details.
*The Annual Percentage Rate (APR) will vary at Prime Rate as published in the Wall Street Journal. As of November 19, 2012, the Prime Rate is 3.25%. Rates vary by loan to value and credit limit. All rates assume customer has a Yadkin Valley Bank (or one of its divisions) package. The rate will not exceed 16% APR. Offer is subject to normal credit approval. Property insurance is required. Rates are subject to change. Some restrictions may apply. Refinancing of current Home Equity Lines of Credit are not eligible. Consult your tax advisor regarding deductibility of interest.