Lock in a rate for up to 10 years. As low as 5.50% Annual Percentage Rate.Home Equity Loan fixed rate of 5.50% Annual Percentage Rate (APR) is based on 60 billing cycles and for a first lien only. Other Home Equity Loan term options are available. Minimum loan amount of $10,000. Maximum loan amount of $500,000. For example, $25,000 in a first lien position at 5.50% APR will result in 60 monthly payments of $477.53. Collateral must be primary residence only and cannot be classified as a manufactured or mobile home. Certain fees may apply from $350 to $900. Land survey fees, if required, will apply. Rates and APRs are subject to change without notice. Consult your tax advisor regarding deductibility of interest. Subject to credit approval.
Borrow just the amount you need and repay it with a fixed rate that will not change when other rates go up. Expect the same payment amount every month. Know your exact payoff date for your loan.
The interest you pay will be low, but it also may be tax deductible, just like your mortgage interest. Please consult a tax advisor about your individual situation to determine whether your Home Equity interest paid will be tax deductible.