Home Equity

At Northwest Georgia Bank, we offer you several choices to take advantage of the equity you have built up in your home. With a Northwest Georgia Bank Home Equity Loan or Line of Credit you can start those home improvement projects you have been putting off or finally take that dream vacation that you have always wanted. You can even consolidate your debt, start a business, or go back to school. With Northwest Georgia Bank, the possibilities are endless.

Click here to view the Home Equity brochure.

Home Equity Loan*

Do you know exactly how much you need? Do you like the stability of having a set payment each month? Consider our Home Equity Loan.

• Variable rate based on Prime + margin OR
• Fixed rate option available
• Bank pays closing costs
• 5-year maturity with up to a 15-year amortization

Home Equity Line of Credit**

Are you uncertain about how much you need? Do you prefer flexibility? If so, our Home Equity Line of Credit may be the best choice for you.

• Two great repayment options, including
• Interest-only up to 5 years
• You receive checks and a MasterCard for convenience
• Bank pays closing costs
• 10-year draw period and maturity

* Subject to credit approval. For variable rate loan, the annual percentage rate (APR) may vary. $15,000 minimum loan amount required, a prepayment penalty would be imposed if loan is paid off during the initial 36 months, and you must maintain a checking account with us. Bank pays closing costs for loans $250,000 or less. For loans greater than $250,000, Borrower must pay for title insurance and ranges between $1,500 and $3,000. Payment example: Based on a current APR of 6.00%, payments would equal $8.44 per $1,000 of the initial loan amount. If you make only the minimum payment, a balloon payment may result.

** Subject to credit approval. The annual percentage rate (APR) may vary and will never be greater than 21% or the maximum allowed by applicable law. $15,000 minimum line amount required, a prepayment penalty would be imposed if line is paid off during the initial 36 months, and you must maintain a checking account with us. Bank pays closing costs for lines $250,000 or less. For lines greater than $250,000, Borrower must pay for title insurance and ranges between $1,500 and $3,000. $10,000 initial advance required for lines greater than $100,000. Evidence of property and flood insurance, if applicable, is required. Based on a current APR of 6%, if you make only the minimum payment, a balloon payment will result.