Home Equity Line of Credit

Put the Power of Your Home to Work for You!

Introductory rate as low as 1.50% APR1 for 6 or 12 months

Standard rates as low as Prime minus 0.25% APR, currently 3.00% APR1

The equity in your home is one of the most easily accessible, lowest cost sources of funds available to most homeowners. HELOC rates remain extremely reasonable.

So, if you see any larger expenses in your future and don’t want to pay cash or put it on a high-interest credit card, a Home Equity Line of Credit (HELOC) from GRB may be the perfect financing opportunity for you.

Great Rates. Flexible Terms.

With a GRB HELOC you have great rates and flexible terms including: 

  • Low introductory rate of 1.50% Annual Percentage Rate (APR) locked for up to 12 months
  • Variable rate thereafter with standard rates as low as Prime minus 0.25% APR!
  • The Wall Street Journal Prime rate is 3.25% as of 6/1/21
  • Lines from $10,000 to $500,000
  • 10-year draw with a 15-year repayment (total term of 25 years)2  
  • Convenient check writing against your HELOC
  • Pay interest only when you borrow 
  • Pay off the line, then draw on it again without reapplying
  • No annual fee
  • All closing costs up to $2,500 paid by GRB3

Ways to Use Your HELOC

Use the available equity in your home to:

Make improvements
Start a business
Pay tuition
Consolidate debt
Emergency cash
Take a vacation

Rates During Promotional Period

For line of credit amounts up to $500,000, GRB provides a rate that is below Prime!

Loan Size
Standard GRB Deposit Accountholder Rate* (available for 6 months)
GRB Elite Accountholder Rate (available for 12 months)
Loan Size
Loans up to $500,000.00
Standard GRB Deposit Accountholder Rate* (available for 6 months)
1.50% Annual Percentage Rate (Prime – 1.75% APR**)
GRB Elite Accountholder Rate (available for 12 months)
1.50% Annual Percentage Rate (Prime – 1.75% APR**)

1 Rate available for GRB standard accountholders is Prime minus 1.75% for 6 months. Rate for GRB Elite accountholders is Prime minus 1.75% for 12 months. As of 6/1/21 the WSJ Prime rate is 3.25%. Best rate after promotional period for Standard and Elite accountholders is Prime minus 0.25%, or 3.00% APR as of 6/1/21. The line has a variable rate feature with a ceiling of 15.00% APR, and the annual percentage rate (corresponding to the periodic rate) and the minimum payment can change as a result of this feature. Applicants must meet credit and home loan-to-value requirements. Other terms and conditions may apply.

2 Termination of the line for any reason sooner than 36 months after it is opened will result in reimbursement of any third-party fees incurred by GRB to open the line. This includes, but is not limited to, fees related to the appraisal, credit report, flood certification, title search, recording fees, and state tax/stamps. In addition to the fees and charges described above in this section, you must carry insurance (hazard and flood insurance, as applicable) on the property that secures the line of credit.

3 Any closing costs in excess of $2,500 will be paid by the borrower. Average closing costs are noted below.

* A deposit relationship is defined as having payments auto-deducted from a GRB deposit account or direct deposit of income into a GRB deposit account. See the GRB Checking Accounts page for account features and requirements.

** APR = Annual Percentage Rate. Prime = Wall Street Journal Prime Rate, which is 3.25% as of 6/1/21. Rates are variable based on Wall Street Journal Prime Rate plus the margins indicated above. All Home Equity Lines of Credit have ceilings of 15.00% APR, floors are variable. The APRs shown are current as of 6/1/21 and are available to a customer who has the credit score required by GRB for its best rate, whose line of credit meets any applicable loan-to-value requirement and whose line of credit is secured by the customer’s primary residence or second home. All rates and terms are subject to credit qualification. Rates are subject to change without notice.

Average Closing Costs

The closing cost estimate provided below is an average and to be used for approximation purposes only. GRB is paying your closing costs up to a maximum of $2,500. The borrower is required to pay all closing costs above $2,500. If you pay off and close your home equity line of credit within the first 36 months, you will be required to reimburse GRB for these costs paid on your behalf. Your costs may be higher or lower. Please work with your GRB representative to secure an actual closing cost estimate for your home equity line of credit.

Appraisal Fee $200-600
Credit Report $10-30
Flood Certification $18
Title Search $189-250
Title Insurance* $0-800
Attorney Fee* $0-600
Mortgage Filing Fee $5-100
Mortgage Tax $125-1,000
Tax Service Fee* $106
TOTAL $653-3,504

*Title Insurance Fees, and/or Attorney Fees, and/or Tax Service Fees only apply to a home equity line of credit that will be in first lien position.

Rates After Promotional Period

Even after the promotional period is over, your GRB HELOC still provides great rates.

Loan Size
0% – 80.00% Loan to Value APR*
0% – 80.00% Loan to Value APR* w/Deposit Relationship**
80.01% to 85.00% Loan to Value APR*
80.01% – 85.00% Loan to Value APR* w/Deposit Relationship**
Loan Size
Loans up to $49,999.99
0% – 80.00% Loan to Value APR*
4.25% (Prime + 1.00%)
Floor 3.00%, ceiling 15.00%
0% – 80.00% Loan to Value APR* w/Deposit Relationship**
3.25% (Prime + 0.00%)
Floor 3.00%, ceiling 15.00%
80.01% to 85.00% Loan to Value APR*
5.00% (Prime + 1.75%)
Floor 3.75%, ceiling 15.00%
80.01% – 85.00% Loan to Value APR* w/Deposit Relationship**
4.00% (Prime + 0.75%)
Floor 3.75%, ceiling 15.00%
Loan Size
Loans $50,000 to $300,000
0% – 80.00% Loan to Value APR*
4.00% (Prime + 0.75%)
Floor 3.00%, ceiling 15.00%
0% – 80.00% Loan to Value APR* w/Deposit Relationship**
3.00% (Prime – 0.25%)
Floor 3.00%, ceiling 15.00%
80.01% to 85.00% Loan to Value APR*
4.75% (Prime + 1.50%)
Floor 3.75%, ceiling 15.00%
80.01% – 85.00% Loan to Value APR* w/Deposit Relationship**
3.75% (Prime + 0.50%)
Floor 3.75%, ceiling 15.00%
Loan Size
0% – 75.00% Loan to Value APR*
0% – 75.00% Loan to Value APR* w/Deposit Relationship**
Loan Size
Loans $300,000.01 to $500,000.00
0% – 75.00% Loan to Value APR*
4.00% (Prime + 0.75%)
Floor 3.00%, ceiling 15.00%
0% – 75.00% Loan to Value APR* w/Deposit Relationship**
3.00% (Prime – 0.25%)
Floor 3.00%, ceiling 15.00%