Home Equity
At Northwest Georgia Bank, we offer you several choices to take advantage of the equity you have built up in your home. With a Northwest Georgia Bank Home Equity Loan or Line of Credit you can start those home improvement projects you have been putting off or finally take that dream vacation that you have always wanted. You can even consolidate your debt, start a business, or go back to school. With Northwest Georgia Bank, the possibilities are endless.
Click here to view the Home Equity brochure.
Home Equity Loan*
Do you know exactly how much you need? Do you like the stability of having a set payment each month? Consider our Home Equity Loan.
- Variable rate based on Prime + margin
or fixed rate option available - 5-year maturity with up to 15-year
amortization
Home Equity Line of Credit**
Are you uncertain about how much you need? Do you prefer flexibility? If so, our Home Equity Line of Credit may be the best choice for you.
- Two great repayment options, including
interest-only up to 5 years - You receive checks and a MasterCard for
convenience - 10-year draw period and maturity
*Subject to credit approval. For variable rate loan, the annual percentage rate (APR) may vary. Payment example: Based on a current APR of 8.00%, payments would equal $8.44 per $1,000 of the initial loan amount. If you make only the minimum payment, a balloon payment may result
** Subject to credit approval. The annual percentage rate (APR) may vary and will never be greater than 21% or the maximum allowed by applicable law. Evidence of property and flood insurance, if applicable, is required. Based on a current APR of 8.25%, if you make only the minimum payment, a balloon payment will result.
