Home Equity Line of Credit and Loans

A Home Equity Line of Credit (HELOC)1 from Bank of Clarke County can help finance home improvements, debt consolidation, large or unexpected expenses, and more.

Bank of Clarke County will allow HELOCs of up to 89% of your home’s value and pay closing costs on any new variable rate HELOC of up to $500K. 

Benefit from potentially lower interest rates than credit cards or personal loans and possible tax deductibility advantages. Borrow as little or as much as you need, up to your credit limit. Pay down and reuse your HELOC. Access funds by check, by phone, at a branch, or through online banking.

We offer a 10-year term with the possibility to refinance at maturity, at which time we may increase the amount of your HELOC if the equity in your home has grown.

Subject to credit approval, ask for details. Please consult a tax adviser for further information regarding the deductibility of interest and charges.
1Bank of Clarke County will pay all closing costs for HELOCs up to $500,000 unless the HELOC is terminated within the first three years of origination. Closing costs start with a $250 origination charge plus any attorney's fees, appraisals, recording costs, credit report fees, as well as any other fee that may be assessed in association with the loan origination which generally range between $300 and $4,500. As of October 1, 2022, the ANNUAL PERCENTAGE RATE for HELOCs was 6.25%. This plan has a variable rate feature, which means the ANNUAL PERCENTAGE RATE, minimum payment amount, and final payment amount may change monthly. The ANNUAL PERCENTAGE RATE does not include costs other than interest and is based on an index using the Wall Street Journal prime rate and a margin rounded to the nearest 0.125%. Under no circumstance will the ANNUAL PERCENTAGE RATE go below 6.25% or exceed 24.00%.  All rates and terms are subject to change without notice. Please contact us for more details.