Home Equity Lines of Credit Virginia

If you own a home, chances are that you have built up equity. Equity is the difference between what the home is currently worth and the current principal balance of your home mortgage loan. You can use the equity in the form of a home equity line of credit.

Local Companies

Provident Bank
703-442-4281
7799 Leesburg Pike
Falls Church, VA
First Virginia Bank
(276) 928-1567
Rocky Gap, VA
Bank of Botetourt
(540) 777-2265
3801 Challenger Ave
Roanoke, VA
Chevy Chase Bank
(703) 866-7709
8436 Old Keene Mill Rd
Falls Church, VA
Bank of the James
(434) 384-8588
4935 Boonsboro Rd Ste C
Lynchburg, VA
Central Fidelity Bank
(434) 847-9415
Lynchburg, VA
State Farm Bank
(434) 385-6167
3716 Old Forest Rd
Lynchburg, VA
Guaranty Bank
(540) 545-8005
Winchester, VA
United Bank
(703) 356-2265
1320 Old Chain Bridge Rd
McLean, VA
Commonwealth Community Bank
(276) 466-1000
1897 Lee Hy
Bristol, VA

If you own a home, chances are that you have built up equity. Equity is the difference between what the home is currently worth and the current principal balance of your home mortgage loan.

You may choose to utilize the equity in your home in the form of a home equity line of credit. This increasingly popular loan allows you to borrow money against the equity you have built in your home for anything from college payments to home improvements and remodeling to vacations to credit card debt.

Most major banks will now write home equity lines of credit loans. Simply contact your bank of choice by phone, in person or over the Internet for details on how to apply for a home equity line of credit loan.

Once you have received your home equity line of credit, there are a number of ways you can use it.

  1. Through a home equity line credit card. Many banks will offer you a credit card with either a Visa or MasterCard logo that will be charged directly to your home equity line of credit. The card is used just like any other credit card, with the difference being that the balance will show up on your equity line of credit balance.

  2. By home equity line check. The loaning bank will also provide you with a checkbook that will access your home equity line of credit. The checks are written just like any other check, but like the credit card, the balance will be transferred to your equity line of credit.

  3. Transferring money to your checking or savings account. If you have a checking or savings account, you can also transfer cash from your equity line of credit to your checking or savings account for use.

    ...

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Author: Brad Halvorsen

Featured Local Company

Provident Bank

703-442-4281
7799 Leesburg Pike
Falls Church, VA
http://www.provbank.com

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