Gate City Bank Home Equity Loans

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.

Gate City Bank Home Equity Loans FAQ

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.