Gate City Bank Home Equity Loans Review

Gate City Bank Home Equity Loans is offered by Gate City Bank (NMLS #435154), a bank founded in 1923 and based in Fargo, ND. Gate City Bank Home Equity Loans is available in 2 states across the USA.

What are the home equity loan requirements of Gate City Bank Home Equity Loans

This lender's maximum loan to value rate is 90%. That means the total debt secured by the property cannot exceed 90% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $70k.

What home equity loan rates does Gate City Bank Home Equity Loans offer?

Gate City Bank Home Equity Loans offers home equity loans with a fixed APR

Remember the APRs of home equity loans do not include points and financing charges, just the interest rate.

What is the estimated funding time for a home loan via Gate City Bank Home Equity Loans?

Gate City Bank Home Equity Loans will typically approve (or deny) a home equity loan application within 24 hours and fund home equity loans within 6 and 10 days of approval.

What fees does Gate City Bank Home Equity Loans charge for a home equity loan?

Gate City Bank Home Equity Loans may charge a loan origination fee of 0% to 5% of the loan amount.

What types of property can you use as security for a home equity loan with Gate City Bank Home Equity Loans?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. Gate City Bank Home Equity Loans will consider loans secured by the following property types:

• Primary home.
• Secondary homes and vacation properties.
• Investment properties and house flipping projects.