Home
Equity Lines of Credit*
Offering maximum flexibility, Home Equity Lines of
Credit can be used for virtually any purpose. You
can consolidate higher interest rate loans and credit
cards, pay tuition, buy a car or a boat, make investments,
pay wedding costs, cover medical bills or meet unexpected
expenses. The application process is quick and easy.
Since
the Line is secured by your primary residence you will
be borrowing at the very best rate available. All
of our Lines include:
No
closing costs¾
and no annual fees
Interest
only payments
Potential
tax deductibility**
Free
checks
15
year draw periods
For
our most aggressive rates choose one of the following
plans:
Great
Line – Prime minus 1⁄2%
For Lines of $50,000 or more with a maximum loan to value
ratio of 80%. Click
here for rates.
Atlantic
Line – Prime Rate
For Lines of $20,000 to $50,000 with a maximum loan to
value ratio of 80% Click
here for rates.
For
someone who would like to utilize all of the equity in
their homes, choose one of
the following plans:
Eagle
100 – Prime Plus 1.5%
For lines of $50,000 to $100,000 with a loan to value
ratio of 100%. Click
here for rates.
Eagle
50 – Prime Plus 2%
For lines of $20,000 to $50,000 with a loan to value ratio
of 100%. Click
here for rates.
Eagle
20 – Prime Plus 4%
For lines up to $20,000 with a loan to value ratio of
100%. Click here
for rates.
Greater
Atlantic Bank also offers Home Equity Lines of Credit
on Rental and Second Home
properties with substantially different terms and conditions.
Please contact a representative
for additional details.
Home
Equity Loans
Offering the security and peace of mind of a fixed rate
and fixed payment, Home Equity Loans feature gradual repayment
of the principal balance on terms you can afford. After
settlement you receive a check for the full amount of
the loan to use for whatever you need. Home Equity Loans
are a great way to handle large projects, debt consolidation
or one time only expenses. They can also be tax deductible.
There
are two types of Home Equity Loans available:
For more information please call us
today at 800 336.8907
or email gabcontact@gab.com
*All
home equity lines are variable rate products. Max APR
is 18%. Rate applies to lines of $50,000-$250,000.¾Bank
pays all closing costs, which generally range between
$1.00 and $1.91 per $100 of available credit depending
on state. If you terminate your Line within three years
of opening your Line you will be required to reimburse
us the amount of those costs. See our home equity line
agreement and disclosure for further details.
**
Consult your tax advisor concerning the deductibility
of interest.
