personal loans

Home Equity Loans

Home Equity Loans

Fixed rates as low as

3.50% APR*

A home equity loan is like finding cash lining the walls of your house. It uses the equity you’ve built within your home to finance all kinds of needs, from debt consolidation to major life events.

As always, you can expect ABNB’s competitive rates that save you money in the long run. Apply today to get a decision back fast from your Hampton Roads neighbors!

Summary
  • Competitive rates for several short-term or one-time needs:
    • Education expenses
    • Major life events
    • Home remodel projects
    • Debt consolidation
    • And much more!
  • Enjoy a fixed rate as low as 3.50% APR*
  • No closing cost option available when you take an advance of at least $15,000
  • The existing equity in your home is used as collateral backing
  • Accommodating repayment terms that work uniquely for you
  • The interest paid might be tax deductible**
  • Local decision-making and processing in Hampton Roads
  • Attentive, friendly service from start to finish

Learn more by visiting our Online Mortgage Center!

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Home Equity Line of Credit (HELOC)

It’s time to say “buh-bye” to that shag carpet and outdated kitchen. A home equity line of credit (HELOC) is perfect for ongoing projects, like home remodeling, because you can draw from it repeatedly without having to reapply.

  • Competitive rates for several ongoing or seasonal needs:
    • Education expenses
    • Major life events
    • Major home improvements
    • Debt consolidation
    • Emergency reserve
    • And much more!
  • Enjoy a rate as low as 3.50% APR* for 6 months
  • The existing equity in your home is used as collateral backing
  • Accommodating repayment terms that work uniquely for you
  • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
  • Revolving credit – as principal is repaid, more becomes available for use
  • Funds are released into a HELOC account, much like a checking account
    • Funds can be transferred to another account, withdrawn, or checks may be written to pull from the HELOC account
  • The interest paid might be tax deductible*
  • Set up automatic payments to be deducted from your account monthly
  • Local decision-making and processing in Hampton Roads
  • Attentive, friendly service from start to finish

*APR = Annual Percentage Rate. Rates are subject to change without notice. Credit qualification applies to all mortgage loan applicants. Existing ABNB Home Equity Line of Credit loans excluded from this offer. Prime rate as of 08/01/16 is 3.50% APR. Only the initial advance at time of closing is eligible for 3.50% APR. No Closing Cost feature on our home equity products require a minimum advance or loan amount of $15,000 of new money at time of loan closing. Home Equity lines of credit mortgage loans paid off and closed in less than 24 months from the loan origination date will require reimbursement of all closing costs. Offer excludes Home Equity mortgage loans used to purchase additional properties. Offer valid for single family, owner-occupied, primary residences only. Closing costs are determined by the Home Equity product mortgage amount. Membership eligibility and $1 membership fee required.

**Consult a tax advisor.