With a CVNB HELOC, you’re not just borrowing money; you’re investing in your dreams!
At CVNB, we understand that life comes with big dreams and big expenses. Whether you’re planning a stunning wedding, funding a top-tier education, or finally starting that major home renovation, our Home Equity Line of Credit (HELOC) provides the financial flexibility you need.
Why Choose a HELOC from CVNB?
A Home Equity Line of Credit taps into the value of your home, offering one of the most affordable borrowing options available. Here’s what makes our HELOC stand out:
- Use your HELOC for anything from home improvements and debt consolidation to covering significant events like weddings or unforeseen emergencies.
- For a limited time, take advantage of our special offer featuring a competitive 3.99% APR introductory fixed rate for the first 6 months.
This means you can enjoy the stability of a low fixed rate, allowing you to plan your finances with confidence. After the introductory period, the rate will adjust based on the Wall Street Journal Prime Rate, ensuring continued affordability and flexibility. - Say goodbye to lengthy application processes! You can now apply for a HELOC online with our new online application feature.
Apply for a HELOC Online!
We’re excited to announce that applying for a HELOC is now easier than ever with our new online application feature. No need to visit a branch; you can start right from your home:
- Apply Anywhere, Anytime! Our online application process is available 24/7, so you can apply when it’s convenient for you.
- Fill out the application in just 5 minutes and let us handle the rest. We’ll get back to you quickly with a decision.
- Your personal information is protected with top-notch security measures throughout the application process.
Ready to Get Started?
Applying for your Home Equity Line of Credit is straightforward. Fill out the application online with your details, submit and relax! Our team will review your application and reach out with the next steps.
Effective as of 6/1/2023, the Annual Percentage Rate (APR) for our Home Equity Line of Credit (HELOC) promotion is 3.99% for the first 6 months, serving as an introductory fixed rate. Following the initial 6-month period, the rate will adjust based on the Wall Street Journal Prime Rate, plus a margin ranging from -0.025% to 1.00%, depending on the borrower's credit score and loan-to-value ratio. As of 7/26/2023, the Prime Rate stands at 8.50%. Please note that the maximum APR is capped at 18%.
Our HELOC provides financing up to $100,000.00, with a maximum Loan to Value (LTV) of 85%. For loans equal to or below $100,000, no closing costs are incurred if the borrower maintains a primary checking account with CVNB. However, in cases where the loan amount exceeds $100,000.00, both CVNB customers and non-customers are subject to an additional expense for title insurance. Should the borrower not meet the criteria to qualify for no closing costs, the actual closing costs will be applicable.
After the initial year, a $25.00 annual fee will be assessed. Additionally, a prepayment penalty of $200.00 applies during the first three (3) years of the loan if the HELOC is paid off and subsequently terminated. In the event of late payment, a fee of 5% of the monthly payment or $19.50, whichever is greater, will be charged if the payment is 10 days overdue.
Please be advised that loan approval is contingent upon underwriting and approval processes, and further restrictions may apply. This HELOC promotion is a limited-time offer. CVNB Louisville customers are required to have a deposit account to qualify for the offered rate.
The interest rate is determined by the credit score of the borrower(s).