Home Equity Lines

Affordable loans allow you to do almost anything.

Home equity funds are often used for major repairs or remodeling projects. But these aren't just home improvement loans. People also often use the money to take a trip, cover college costs, or purchase something special.

Home Equity options that fit what you want to do

If you want all your funds in one lump sum, F&M Bank offers Home Equity term loans. If you prefer to tap into a credit line whenever you need extra cash, a Home Equity Line of Credit may be the right fit. Whichever you choose, the value of your Shenandoah Valley, Virginia, home helps you qualify for a consumer-friendly rate.

Home Equity Loan

Loan limit depends on the equity you have in your home (the current market value of your home minus the remaining mortgage balance)
Receive all your loan money upfront
Save on interest charges with competitive rates
Fixed rates mean you'll have stable monthly payments for the life of the loan
Schedule convenient automatic payments from F&M Bank checking or savings accounts
Often used to pay down higher interest loans and credit card balances
Home Equity Loan interest payments may be tax-deductible – consult your financial advisor for more details

Home Equity Line of Credit (HELOC)

Gain access to a credit line that can be used time and again for almost any purpose
Credit limit depends on the equity you have in your home (the current market value of your home minus the remaining mortgage balance)
Variable interest rate, linked to the Prime Rate. Loan caps limit rate increases over the life of the loan.
No application fee (Also, ask about our no closing cost options)
Access funds through checks, a debit card, Online or Mobile Banking, or at F&M Bank branches
Pay interest only on the amount of money actually borrowed
Often used to cover unexpected expenses, repair costs, medical bills, and periodic payments, such as college tuition