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Last Updated: 04/18/2025

Gate City Bank Home Equity Lines of Credit

from Gate City Bank

Last Updated: 04/18/2025

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Highlights

Credit Score Range

600 - 850

Amount Range

$10,000 - $500,000

Maximum LTV

90%

Minimum Draw

N/A

Loan Term (Years)

Up to 30

Gate City Bank Home Equity Lines of Credit Review

Gate City Bank Home Equity Lines of Credit is offered by Gate City Bank (NMLS #435154), a bank founded in 1923 and based in Fargo, ND. Gate City Bank Home Equity Lines of Credit are available in 2 states.

Key Takeaways

Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Gate City Bank Home Equity Lines of Credit.
Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
Fast process. In some cases you can close on your home loan within 6 business days.
Origination fees of 0% to 5%. This is on the high end for lenders on SuperMoney's database.
High maximum LTV ratio. Gate City Bank Home Equity Lines of Credit has a maximum loan to value ratio of 90%.

Gate City Bank Home Equity Lines of Credit Pros & Cons

Pros

Cons

No prepayment penalty.
Considers applicants with fair credit.

Charges an origination fee of up to 5% of the loan amount.
No co-sign option available.
Only available in 2 states.

Gate City Bank Home Equity Lines of Credit FAQ

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What is the estimated funding time for a HELOC?

The HELOC through Gate City Bank can fund in as few as 6 days after approval.

What fees does Gate City Bank Home Equity Lines of Credit charge for a HELOC?

Gate City Bank Home Equity Lines of Credit may charge an origination fee. 0% to 5% of the loan amount.

What types of property can you use as security for a HELOC with Gate City Bank Home Equity Lines of Credit?

Gate City Bank may consider HELOCs secured by the following property types:

Primary residences
Secondary or vacation homes

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Message from Gate City Bank Home Equity Lines of Credit

Expenses come along unexpectedly; with a revolving home equity line of credit, you're covered. Here's a better way to access equity in your home and keep cash readily available. Features: No annual fee. May be able to access up to 90 percent of equity in your home. Personalized checks. Low interest rates - lower than most credit cards and interest could be tax deductible. Does not impact your mortgage rate or terms.

Contact

Headquarters

P.O. Box 2847

Fargo, ND 58108

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Email Support

Hours of Operation

SundayClosedMonday7:00AM - 10:00PMTuesday7:00AM - 10:00PMWednesday7:00AM - 10:00PMThursday7:00AM - 10:00PMFriday7:00AM - 10:00PMSaturdayInvalid DateTime - 6:00PM

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SuperMoney Net Recommendation Score

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-1000+100

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