Home Equity Line of Credit
If you’re a homeowner and have a borrowing need, take a good look at your home. If the home’s appraised value is greater than the principal balance on the mortgage, your home may have equity to borrow against. Home equity borrowing makes sense for remodeling projects that increase value or for financing important goals like tuition, a car purchase, or even a dream vacation.
Apply for a Home Equity Line of Credit at any Burke & Herbert Bank Branch, or call us at 1-855-571-5824.
With a Burke & Herbert Bank Home Equity Line of Credit, you get the convenience of a readily available revolving line of credit at rates that are traditionally lower than personal loans and credit cards. Plus it offers all of these great benefits:
Access funds up to your available credit limit anytime you wish during the draw term.
Flexibility to pay interest-only or principal plus interest each month.
After 10 years, any outstanding balance and interest automatically convert to the repayment term with fixed monthly payments over 15 years.
Rates are based on Prime plus a margin, adjusted every 5 years.
Provides you with convenient direct access to the line.
Use Digital Banking, Mobile Banking and Automated Telephone Banking for anytime, anywhere access. Plus enjoy the safety and convenience of eStatements.
Eliminate embarrassment and expense of overdrawing your checking account by attaching your line of credit for overdraft protection. Funds will be transferred automatically to your checking account when needed. There are no fees for advances; (finance charges on advanced amounts apply).
To learn more and apply, please visit a local Burke & Herbert Bank branch or call us at 1-855-571-5824.
