Cover immediate expenses or unlock exciting opportunities
A Home Equity Line of Credit allows you to borrow as much money as you need, exactly when you need it. One common use is to pay off higher interest loans and credit card balances. But if you prefer to use funds for home renovations, a new car purchase, a family vacation, or college costs, that's perfectly fine with us.
- Gain access to a revolving loan fund you can tap into as often as you like for almost any reason at all
- Credit limit depends on the equity you have in your home (Equity is calculated by taking your home's market value and subtracting your remaining mortgage balance)
- Instant access to funds through Online and Mobile Banking, and at New Peoples Bank branches
- Pay interest only on the amount of money you've actually borrowed
- Annual interest payment may be tax-deductible. Consult your financial advisor for more details.
Budget-friendly borrowing
When consumers need money for a big purchase or a major expense, they often turn to credit cards or Personal Loans. But Home Equity Lines of Credit generally feature lower interest rates and easier monthly payments.
*APR, Annual Percentage Rate. Offer available for a limited time. Restrictions apply. Subject to credit and property approval. To qualify for the promotional rate and no closing costs, the requester must have an active New Peoples Bank checking account with a linked direct deposit established prior to loan closing. New Peoples Bank reserves the right to discontinue the offer without notice. The APR is variable and is based upon an index plus a margin. The APR will vary with the Prime Rate (the index) as published in the Wall Street Journal. As of 4/3/2026, the index is 6.75% and is accurate as of this date.
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