Home Equity Financing

If you’re like most people, your home is your biggest asset. We offer you the opportunity to put the equity in your home to work for you. Updating your home, consolidating bills, investment opportunities, or paying school tuition are a few of the many important reasons to borrow. When one comes your way, choose a fixed rate Home Equity Loan or a variable rate Home Equity Line of Credit. The Home Equity Loan gives you a lump sum for a major expenditure, and the Line of Credit makes ready cash available when you need it. In addition, you may be able to cash in on real tax savings. Because your HVCB Home Equity Loan or Line of Credit is secured by your home, the interest you pay may be tax deductible! Consult your tax advisor regarding the deductibility of interest. And best of all, we’ll give you ½% off your consumer loan rate with automatic payment deduction from your Hopewell Valley Community Bank Freedom Checking account.

Home Equity Lines of Credit
Cash on hand, whenever you need it! With a Hopewell Valley Community Bank Home Equity Line of Credit, you'll receive the advantages of a loan with the flexibility of a reusable line of credit. Apply only once and use it over and over:

• You can borrow up to 80% of the appraised value of your home minus the balance of your first mortgage.
• Instant access by writing a check anytime you like (subject to terms of your line)
• Save interest. Compare our low rate with your present credit cards. You’ll find our variable rate much lower. Plus, current federal tax laws make home equity credit one of the few remaining loans with tax deductible interest. Consult your tax advisor for your individual situation.
• Special introductory APRs available. The Hopewell Valley Community Bank Home Equity Line of Credit has a variable rate feature following the introductory period, which fluctuates along with the prime rate**. 
• no points. no application fee. no prepayment penalty. no closing costs—just savings
• Link your home equity line of credit to your checking account…you can then access your credit line by using your Hopewell Valley Community Bank VISA Check Card anywhere VISA is accepted
• You can link your home equity line of credit to your Hopewell Valley Community Bank checking account for the convenience and cost savings of automatic overdraft protection.
• Get interest rate protection. Hopewell Valley Community Bank also offers a lifetime cap on increases in your interest rate.

Home Equity Loans
A home equity loan is a good choice if you need money for a one-time expense. Terms range from one to fifteen years.

• You can borrow up to 80%* of the appraised value of your home minus the balance of your first mortgage. Use our calculator to estimate your available line.
• No points. no application fee. no prepayment penalty. no closing costs—just savings
• Borrow a lump sum at a fixed or adjustable interest rate
• Enjoy the security of a low fixed rate for the life of your loan, with a variety of terms
• Your principal and interest payments remain constant throughout your loan term. The regular, equal monthly payments are easy to budget.

Hazard Insurance:
If your application is approved, you will need to provide Hopewell Valley Community Bank with proof of hazard insurance. The amount of insurance required is determined by adding your current mortgage balance to the amount of home equity financing for which you have been approved.

Flood Insurance:
If it is determined that your property is in a flood zone, you will be required to carry flood insurance in the same amount of coverage as required for hazard insurance ($250,000 maximum).

To apply for a Hopewell Valley Community Bank home equity loan or line of credit, download the Consumer Loan Application, then visit your local branch office or call (609) 466-2900 to speak with a Branch Manager.

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