If you’re a homeowner who has accumulated equity, you may be able to use it for the cash you need with a BSV Home Equity Line of Credit (HELOC). Applying is easy, and for a limited time we are offering our BSV customers a HELOC with no application fee and no closing costs!* If you never draw on the funds, that’s ok; but if a need or emergency arises, money will be readily available to you.

How do I know if I have equity?

The amount you may be able to borrow is based on several factors such as market value of the property, your credit history, loan characteristics, and property location. To get a general idea of your available equity for financing purposes, use our HELOC Calculator on this page. You will need your home’s current value (your tax assessment may be a good estimate) and your current mortgage balance. Enter 80% for the loan to value (LTV). It’s that easy!

How does a BSV HELOC work?

A HELOC is a revolving line of credit that’s secured by your home. Once the HELOC is opened, you can advance as much cash as you need, up to your approved credit limit. You choose when you want to borrow money and how you want to advance the funds. There are infinite scenarios that may leave you in need of a quick infusion of cash. With a HELOC, you have flexibility and the security of knowing funds are available at any time.

Here are the ways a BSV HELOC can simplify your life:

  • Funds can be used for any purpose
  • Write checks from your personalized HELOC checkbook any time
  • Withdraw cash at any BSV branch
  • Transfer funds into a BSV checking or savings account online
  • Home Equity Line interest may be tax deductible**
  • Monthly payments can be made online, by check, or by automatic funds transfer
  • Rates may vary. Maximum APR 21%
  • Property and hazard insurance required


Loan Balance Rate
Under $15,000 WSP + 1.5% APR
$15,000 - $30,000 WSP + 1.0% APR
$30,000 - $50,000 WSP + 0.5% APR
Above $50,000 WSP + 0% APR

Rate based on Wall Street Prime (WSP). These rates are for a 2nd mortgage on the property. If this HELOC loan is for a second home, add 0.50% to the rate.

Beacon Score Floor
Less than or equal to 675 6.49%
676 - 739 5.49%
At or greater than 740 4.49%

Don’t wait – rates continue to be at an all time low, and this offer is only good through June 30, 2016. Contact your local BSV branch today.

*Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Offer applies to second position liens.

**Consult tax preparer regarding your ability to deduct interest.