NOTICE: All MVB banking center lobbies are temporarily closed, effective Friday, March 20. You can still conduct banking transactions with an MVB Team Member in real-time through our Interactive Teller Machines or by utilizing our drive-thrus. Locations of ITMs, ATMs and drive-thrus can be found on our Locations page. If you need immediate assistance, please call Client Support at 844-MVB-BANK during regular business hours. Telephone Banking is available 24/7 at (888)-263-9490. Digital Banking and the MVB Mobile App are other available self-service options.
Home Equity Lines of Credit
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Request a Loan Application
HELOCs available for primary residencies and second homes in West Virginia, Virginia, Pennsylvania, and Washington, D.C.
Includes single-family homes, townhouses, duplexes, and condominiums
Loan amounts up to $500,000
MVB will value another institution's appraisal for up to one year
30-year terms include a 10-year draw period with a 20-year repayment period
After this introductory period, the APR will be adjusted to the tiered rate
Terms & Rates
30-Year Term: 10-year draw period with 20-year re-payment period.
Introductory Rate of 2.95% APR for first six months*
*Thereafter adjusts to an APR based on the applicable CLTV tier after six months.
|CLTV 70% or Less||*4.75% APR (as of 11/4/19)||Prime|
|CLTV 70.01% - 80%||*5.00% APR (as of 11/4/19)||Prime + 0.25%|
|CLTV 80.01% - 85%||*5.25% APR (as of 11/4/19)||Prime + 0.50%|
|CLTV 85.01% - 89.99%||*5.75% APR (as of 11/4/19)||Prime + 1.00%|
After the 2.95% Annual Percentage Rate (APR) introductory period, the APR will be a variable rate, based on Wall Street Journal Prime Rate (4.75% current as of November 4, 2019) plus a margin up to 1.00%, based on the customer’s CLTV (Combined Loan To Value) tier, with a minimum rate of 4.00% and a maximum rate of 18%. Introductory rate and bank paid closing costs/fees are for new loan requests only. MVB will pay up to $2,500 in third-party fees. Offer is based upon loans from $10,000 up to $500,000, a CLTV up to 89.99% on an owner-occupied primary or secondary residence for credit secured by a first or second lien on a dwelling, and subject to credit approval. The Maximum CLTV for properties valued greater than $1,250,000 is 85%. The Maximum CLTV for a second lien on a dwelling that has a first lien balance of $1,000,000 or greater is 85% and subject to credit approval. Manufactured homes do not qualify. HELOC’s over 85% CLTV must provide proof of six (6) months verified reserves. Lender and Third Party Closing Fees typically would range from $650.00 to $5,000.00, but for this promotional offer, most closing costs are paid by MVB, including appraisal and title fees. If your credit line is paid off and closes within the first 36 months of date of credit agreement for any reason, including the sale of your home or if you refinance you will be required to repay the Bank paid Lender and Third Party closing costs up to $2,500.00. Homeowner insurance is a requirement of lines of credit secured by home equity. Flood Insurance may be required. Other rates and terms are available. Consult your tax advisor about deductibility of interest. Offer subject to change or withdrawal at any time and may not be used with any other offer from MVB Bank.