End the Year Strong with a Great Oaks Bank HELOC

A Home Equity Line of Credit (HELOC) from Great Oaks Bank can help you manage expenses, pay down debt, or fund home improvements this winter—all with low rates and potential tax benefits.

Put Your Home’s Equity to Work This Winter
Winter is a season for staying cozy, tackling new goals, and getting your home (and finances) in shape for the year ahead. Whether you’re planning a renovation, paying for tuition, or consolidating debt after the holidays, a Home Equity Line of Credit (HELOC) from Great Oaks Bank gives you flexible, affordable access to the funds you need—when you need them.

What Is a HELOC?
A HELOC allows you to borrow against the equity you’ve built in your home, offering a revolving line of credit that you can draw from as needed. It’s a smart way to finance big projects or manage cash flow—usually with a lower interest rate than most credit cards or personal loans.

Why a HELOC Makes Sense This Season
A Great Oaks Bank HELOC offers comfort and confidence during the colder months, so you can focus on what matters most.

Here’s how homeowners are using their HELOC this winter:

Home improvements
 Make energy-efficient upgrades or remodel your kitchen or bathroom.

Debt consolidation
 Pay off higher-interest credit cards or loans and enjoy simpler, lower monthly payments.

Winter expenses
 Cover tuition, travel, or unexpected costs without dipping into your savings.

Possible tax savings
 Interest paid on a HELOC may be tax-deductible when used for home improvements.¹

A Limited-Time Offer to Warm Up Your Wallet
For a limited time, you may qualify for a special 5.99% introductory rate for twelve months, followed by a variable rate of Prime + 0.00% to 0.50%, based on qualification.

Your HELOC Partner: At Great Oaks Bank, we’re proud to help our neighbors in Georgia reach their goals with trusted advice and personalized service. Our experienced lenders can help you find the best HELOC solution for your needs this winter and beyond.

¹ Consult your tax advisor regarding the deductibility of interest

Loans are subject to credit approval and program guidelines. Interest rates and program terms are subject to change without notice. Credit line may be reduced or additional extensions of credit limited if certain circumstances occur. Additional terms and conditions apply. Available for Primary Residence only. The bank can lend up to 85% of the appraised value (minus 1st mortgage balance). $25,000 minimum loan amount and $500,000 maximum loan amount. Hazard insurance is required; flood insurance is required if the property is located in a flood zone. The Annual Percentage Rate (APR) is variable and is based upon an index plus a margin. The APR will vary with Prime Rate (the index) as published in the Wall Street Journal. As of December 19, 2024, the variable rate is 7.50% APR. Rates may vary due to a change in the Prime Rate, credit score, or debt to income. The rate will never exceed 18% APR, or applicable state law, or fall below 4.00% APR. You must pay certain fees to third parties such as appraisers, attorneys, credit reporting firms, and government agencies. These fees typically range from $750 to $5,270. Choosing an interest-only repayment plan will result in a final balloon payment at maturity. If you made only the minimum payment and took no other credit advances, it would take 10 years to pay off a credit advance of $10,000 at an Annual Percentage Rate of 8.00%. You would make 119 monthly payments of $67.95 and a final balloon payment of $10,067.95. Repayment of the $500 bank-paid closing costs will be required if the HELOC is closed within 36 months of origination.