Home Equity Line of Credit | NC HELOC Rates | Peoples Bank

Home Equity Line of Credit (HELOC)

We have a home equity line of credit that fits your needs.

Life in North Carolina is full of changes as well as choices. A Peoples Bank Home Equity Line of Credit (HELOC) frees you up to be financially prepared for whatever comes your way. Which option will you choose?

Introductory 1.99% APR*

Take advantage of a HELOC with an introductory APR that is fixed at 1.99%*.


APR As Low As 4.00%**

Looking for a HELOC with no closing costs? Learn more about our HELOC with no out of pocket expenses and an APR as low as 4.00%**.

Benefits and Features

Use the equity in your home to make big purchases such as home improvements, debt consolidation, vehicle purchases, and so much more. A Home Equity Line of Credit allows you to reuse the funds as you pay down what you borrow. You have the flexibility to withdraw available funds only when you need them.

  • Low interest rate
  • Access to funds as you need them
  • Only pay interest on the money you draw until maturity

How to Apply

Apply online at your convenience. When we receive your application one of our friendly lenders will be in touch and work with you to determine the best HELOC for your needs. Alternatively, you can call a branch office and make an appointment to come in and complete your application.

Note: If you are applying for a lot/land loan, please contact a branch.
*This promotion is available for a limited time and may be withdrawn at any time.  The promotional Annual Percentage Rate (APR) will be fixed at 1.99% and will not increase until the first day of the thirteenth month after the date of the loan closing. After the introductory period, the loan will become a variable rate loan. The subsequent APR may vary from prime rate to prime rate plus 0.75% (margin is dependent on the amount of the line and lien position). The prime rate is based on the prime rate published in the Eastern Edition of the Wall Street Journal. On May 5, 2022, that rate was 4.00%. The current APR for a Home Equity Line of Credit using the prime rate plus the 0.75% margin is 4.75%. The floor rate at the end of the initial 12-month period will be 3.25%. The APR will never exceed 16.00%. The minimum monthly payments will be interest-only payments.  A balloon payment will result if only interest payments are made over the 15-year term.  Minimum line amount of $25,000. Maximum line amount of $250,000.  Bank will pay credit report fees and property evaluation fees associated with the loan (ranging from $128 to $132).  Customer will pay for other fees such as title search fees, recording fees, flood determinations and appraisal fees, if applicable (ranging from $359-$385). This promotion applies only to new lines of credit. No annual fee. Promotion available for single-family, owner-occupied, primary residence only; excludes investment property, second and vacation homes, condos, co-ops, and single wide manufactured homes, residential lots, and purchase money second liens. Property insurance, and flood insurance if applicable, is required. Applicants must successfully meet our Home Equity Line credit standards. Minimum 720 credit score required. Not all customers will qualify for this promotional offer. Alternative rates and terms are available. Interest may be tax-deductible. Consult your tax professional regarding deductibility.

**This promotion is available for a limited time and may be withdrawn at any time.  The loan is a variable rate loan. The APR may vary from prime rate to prime rate plus 0.75% (margin is dependent on the amount of the line and lien position). The prime rate is based on the prime rate published in the Eastern Edition of the Wall Street Journal. On May 5, 2022, that rate was 4.00%. The current APR for a Home Equity Line of Credit using the prime rate plus the 0.75% margin is 4.75%. The floor rate is 3.25%. The APR will never exceed 16.00%. The minimum monthly payments will be interest-only payments. A balloon payment will result if only interest payments are made over the 15-year term.  Minimum line amount of $25,000. Maximum line amount of $250,000.  Bank will pay title search fees, recording fees, flood determination fees, credit report fees, and property evaluation fees (ranging from $487-$518).  Customer will pay for appraisal fees, if required. This promotion applies only to new lines of credit. Customer will be charged for bank-paid upfront closing costs if the line is closed/paid off before the first day of the 37th month. No annual fee. Promotion available for single-family, owner-occupied, primary residence only; excludes investment property, second and vacation homes, condos, co-ops, and single wide manufactured homes, residential lots, and purchase money second liens. Property insurance, and flood insurance if applicable, is required. Applicants must successfully meet our Home Equity Line credit standards. Minimum 720 credit score required. Not all customers will qualify for this promotional offer. Alternative rates and terms are available. Interest may be tax-deductible. Consult your tax professional regarding deductibility.