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Home Equity

Tap into the Value of Your Home

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Home Equity Rates

  • Home Equity Loan

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    As low as 7.32% APR

    • Home Equity Loans

    Tap into the value of your home—and make it work for you. Home equity loans and lines of credit are the perfect solution for debt consolidation, home improvements, education expenses and more.

    Home Equity Loan:
    Use the equity in your home to borrow a predetermined amount that is repaid on a fixed, monthly schedule.

    Home Equity Line of Credit (HELOC):
    Revolving line of credit with unlimited access up to your available credit limit.

    Apply Online

    Home Equity Loan vs Line

    Home Equity Loan

    Choose a home equity loan if you need a one-time lump sum to use as you wish.

    • No annual fee or prepayment penalties.
    • Fixed rate for the life of the loan.
    • Fixed monthly payments make budgeting easier.
    • Terms up to 20 years.
    • You may be eligible to borrow up to 95% of your home’s value.

    Apply Online

    HELOC

    Choose a Home Equity Line of Credit if you need a revolving credit line for maximum flexibility. 

    • No annual fee or prepayment penalties.
    • You may reuse the line of credit as balance is repaid.
    • You may be eligible to borrow up to 95% of your home’s value.
    • 10-year draw period, with up to a 20 year repayment period.

    Apply Online

    Frequently Asked Questions

    • Use your home equity funds when you need and how you like—for what matters most to you.

      • Remodel your home
      • Pay wedding, college, or vacation expenses
      • Make a major purchase
      • Consolidate and pay off higher-interest debt
      • Tap for investment opportunities or unexpected life events
      • Create a rainy-day fund for emergencies

    • First, you’ll be approved for a total loan amount you can borrow. This loan is a one-time lump sum that comes with a fixed payment amount and number of payments over the term, making it easier to plan your monthly budget.

    • First, you’ll be approved for a variable rate line of credit equal to the total amount you can borrow. During the draw period you can advance money as you need it. As you pay off the principle, your available balance is restored, allowing you to use it again. Unlike a fixed rate loan, you only pay on the balance owed, providing flexibility to use as little or as much as you need.

    • It’s simple and convenient to borrow from your line of credit during the draw period. Access your funds any time you like through Rivermark Online & Mobile Banking, or drop by your nearest Rivermark branch.

    • To determine how much equity you have in your home, figure out the difference between the appraised value of your home and your current mortgage balance.

      Here’s a simple formula to calculate your home’s equity:

      Current Appraised Value of Your Home ($250,000) – Outstanding Balance ($150,000) = Your Equity ($100,000)

      Several websites, such as Zillow or Redfin, can help to provide a rough estimate of your home’s value. Looking at what comparable homes in your area have sold for is another great point of reference.

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    Home Equity Line of Credit (HELOC): The interest rate is variable and based on the Wall Street Journal Prime Rate plus a margin, with a maximum APR of 18.00% and a floor APR of 3.00%. This Home Equity Line of Credit (HELOC) features a 10‑year draw period followed by a 20‑year repayment period, with a minimum loan amount of $5,000. Closing costs range from $399 to $3,645, depending on loan amount, lien position, and appraisal requirements. Borrowers may access up to 95% loan‑to‑value (LTV) or combined loan-to-value (CLTV), subject to collateral and credit qualifications. Collateral is limited to single‑family residences, and property insurance is required. Interest rates may increase after loan consummation. Rates and terms are effective as of the date shown below, and are subject to change without notice. See Rates. Rates effective as of March 18, 2026.

    Home Equity Loans (HELoan): APRs are based on a $50,000 loan amount, a loan-to-value (LTV) or combined loan‑to‑value (CLTV) of up to 80%, and a $399 loan fee. Maximum LTV or CLTV is subject to collateral and credit qualifications; tiered rates vary based on credit profile and LTV or CLTV. Loan applications are subject to credit and property approval. Representative payment examples reflect principal and interest only and are based on the following terms: 5 years (60 payments), 10 years (120 payments), 15 years (180 payments), and 20 years (240 payments). An appraisal may be required at an additional cost. Property insurance is required, and flood insurance may be required. Maximum loan limits apply. Additional rates and terms are available for investment property or manufactured homes. Collateral is limited to a single‑family primary residence, with LTV or CLTV up to 95%, subject to qualification. Rates and terms are effective as of the date shown below, and are subject to change without notice. See Rates. Rates effective as of March 18, 2026.

    Home Mortgage Disclosure Act Notice

    The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age, and income of applicants and borrowers; and information about loan approvals and denials.

    HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s website. (www.consumerfinance.gov/hmda).

    *APR = Annual Percentage Rate

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