All home equity products come with
0.25% rate discounts with automatic payments
Flexibility to use primary or secondary residences as collateral
Closing costs paid by Atlantic Union Bank**
Compare our home equity options
|Details||Flexibility to borrow funds now and in the future||Borrow funds at one time for a specific purpose with the stability of fixed rates/terms||
Borrow funds for various purposes with fixed rates/terms
Only available to eligible clients that reside in a low/moderate income census tract
|Interest rates||Variable with a Fixed Rate Option***||Fixed||Fixed|
|Rates discounts||0.25% when your monthly payment is automatically deducted from an Atlantic Union Bank deposit account||0.25% when your monthly payment is automatically deducted from an Atlantic Union Bank deposit account||0.25% when your monthly payment is automatically deducted from an Atlantic Union Bank deposit account|
|Quick access to money with Access NOWTM|
VA & MD - $10,000 and greater
NC - $15,000 and greater
|$10,000 and greater||$2,500 - $9,999|
|On-going access to funds|
|Monthly Payment Options||Variable or fixed monthly payments||Fixed monthly payments||Fixed monthly payments|
|Closing Costs||Bank pays **||Bank pays||Bank pays|
Can be waived with a qualified Atlantic Union Bank checking account
|Terms||15-year draw period, 15-year repayment period||Up to 240 months||120 months|
|Collateral||Primary or secondary residential property||Primary or secondary residential property||Primary or secondary residential property|
*The STAR Home Equity Loan is available to North Carolina, Virginia, and Maryland residents with property located in certain counties/cities designated as a low or moderate income census tract and/or have income below 80% of the area median income as identified by the U.S. Census Bureau. Additional restrictions may apply.
**Bank will pay closing costs for non-purchase money credit lines up to $400,000; credit lines of more than $400,000 and purchase-money credit lines will receive a $600 credit towards closing costs, or the full amount of closing costs, whichever is less. Closing costs include the first property valuation obtained by Atlantic Union Bank, but excluding any subsequent valuations not required by us. However, if your account is closed within three (3) years of the opening date, we will add any closings costs we advanced on your behalf to your outstanding balance for our reimbursement. Total closing costs generally range from $150 to $2,000. There is a $50 annual fee, if and as allowed by applicable law, which is waived the first year. Your annual fee may be waived with a qualified Atlantic Union checking account; consult with your branch banker for details.
***Ability to have up to 5 fixed-rate advances at one time. Fixed interest rates available for 5, 10, 15 or 20 year terms. Fixed-rate processing fee of $75, as allowed by applicable law. The interest rate is determined at the time of the fixed rate request using the Wall Street Journal Prime Rate plus a margin. The fixed interest rate will be higher than your standard variable rate. Margins are subject to change at any time. The fixed rate advance term selected can not exceed the full maturity date of the Home Equity Line of Credit account. For more details or to request a Fixed Rate Option, contact your local branch or schedule an appointment.