Unlock your home equity
with our promotional rate.
Available through November 30, 2025
4.99%
Fixed APR 9 Months+
7.75%
After introductory period
Variable APR of Prime +.50%+. Floor Rate applies.
- Closing costs paid on lines of credit from $20,000 to $250,000*
- Additional rate discount available for lines secured by a 1st deed of trust
- Funds can be borrowed and repaid at your convenience
Contact Us Now to Apply!
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The TowneBank Difference
Not all HELOCs are created equal. With TowneBank, you get more than a line of credit — you get a partner who cares about your goals.
Smart, Flexible Financing When You Need It
Home Renovations
Upgrade your space and boost your home’s value.
Debt Consolidation
Simplify payments and reduce interest costs.
Life Expenses
Cover tuition, medical bills, or unexpected costs with ease.
Home Equity Line of Credit FAQs
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Home equity is the current market value of your home minus what you owe.
Please visit our Home Equity Financing page for more information or contact your nearest local banker. -
Simply fill out the contact form at the top of this page and a local banker will reach out to you directly to start the application process and to answer any questions you may have. Or, stop in at any of our TowneBank offices to speak with a banker.
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You can use a HELOC for anything. Most common uses are home improvements and renovations, or to pay for medical or even education expenses. You can also use it to finance a large event like a wedding or to have a line of credit available in case of an emergency.
To learn more visit our Home Equity Line of Credit page or contact your nearest local banker. -
Yes, up to fair market value of property.
Please visit our Home Equity Line of Credit page for more information or contact your nearest local banker. -
Up to 80% of your home's value.
For more information visit our Home Equity Line of Credit page or contact your nearest local banker. -
As low as prime + .50%
Please visit our Home Equity Line of Credit page for more information or contact your nearest local banker.
Normal credit approval criteria apply.
All rates, terms, and conditions are subject to change without notice. Current prime rate is published by the Wall Street Journal. Please contact your nearest TowneBank location for the APR currently in effect.
Calculate How Much You'll Need
Calculate how much you may qualify to receive or, if using your equity to consolidate debt is right for you.
+ For new home equity lines of credit only. To qualify for the introductory rate, borrowers must make an advance of $20,000 or greater at closing. Borrowers who do not make a qualifying advance at closing are not eligible for this promotional HELOC product and will be placed in our standard HELOC product. The introductory rate will apply for the first nine (9) months after account opening. Borrowers can obtain an additional 0.25% discount off the introductory rate on lines secured by a 1st deed of trust. When the introductory rate expires, balances will accrue interest at a variable rate of Prime Rate + 0.50% (currently 7.75% APR). As of September 18, 2025, the Prime Rate – a rate published from time to time in the Wall Street Journal – was 7.25%. Borrowers whose payment is auto-debited from a TowneBank checking account can receive a 0.25% discount on the after-introductory rate. A floor rate of 3.95% is in effect. The maximum Annual Percentage Rate (APR) is 16% or as applicable by law. Offer available through November 30, 2025, and is subject to change without notice.
* On new home equity lines of credit, with outstanding credit limits from $20,000 to $250,000, TowneBank pays all closing costs, including a desktop appraisal. For accounts closed within the first 24 months, we will add any closing costs we paid to your outstanding balance as reimbursement. Total closing costs generally range from $525 - $1,750. Please note that a $95 document fee will be collected at closing and is not included in the closing costs paid by the bank.
Normal credit approval criteria apply. Property insurance is required, and flood insurance is required for homes in a flood zone. Available only on owner-occupied or secondary single-family residential real property in cities and counties served by TowneBank offices in Virginia and North Carolina. Not available for purchase money or investment property. We must obtain a valid first or second lien position on the collateral, with all owners signing the documents. Available equity depends on the balance of other loans tied to the property. Exclusions and limitations may apply. Consult your tax advisor regarding interest deductibility. NMLS# 512138