Think of it like a credit card, with limits based upon the equity of your own home. You can enjoy the flexibility of a credit line, and you're only charged interest when you use it. Our customers also have access to great interest rates that make borrowing even easier.
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Not sure you’re ready but want to learn more? Give us a call today at (800) 730-6603, or stop by any branch location.
Disclosure : Subject to credit approval. No Points. Credit line limits between $25,000 and $500,000. Maximum Combined Loan To Value (CLTV) is 80%. If existing first mortgage is non-GSB and exceeds $750,000, the maximum CLTV is 60%. Our Automatic Payment Feature is a convenient way for you to make your monthly payments directly from checking account maintained at Guilford Savings Bank. If the Automatic Payment Feature is not maintained, we would add a margin of 0.25 percentage to the Prime Rate to determine your APR each month. Using that formula, the current APR would be 5.75% (based upon current Prime Rate as published in the Wall Street Journal as of 07/27/22). The maximum APR is 17% and the minimum APR is 3%. An annual membership fee of $50 is required. An Early Termination Fee will be required if the Account is terminated within the first 2 years. Homeowner's insurance required. For credit limits in excess of $250,000, you must pay for a full appraisal (appraisal costs can range from $450 to $720). If property held in trust, trust review fee ($300) and attorney closing fees (Estimated $650-$850) will apply. Homes for sale or intended for sale within the next six months are not eligible for this promotional product. Other terms and conditions apply. For more information, see a bank representative.