Home Equity Line of Credit
Maximize your Home Equity with Applied Bank
Rates as low as
Introductory Rate for first 6 Months
Variable Rate Thereafter
No Fees at Closing*
Put your plans into action by putting your home equity to work. Get flexible, affordable financing to renovate your home, build an addition, pay tuition, or consolidate debt. With a special introductory rate on our HELOC and fast application and approval, your plans are closer than ever.
Limited-Time HELOC Rates
- Low introductory rate of 2.49% APR* for the first 6 months
- Low Variable APRs starting as low as 4.99%* after that
Rates as of:
More Solutions That Pay Off
- $5,000 to $250,000 line amounts for qualifying borrowers
- No upfront or closing fees*
- Use it for 10 years as you like paying interest only, with an additional 20 years to repay your balance
- Access your HELOC online, via check or in branch
You’ve invested a lot to build your home’s equity. Now let your home invest in you. Get things started with our Home Equity Line of Credit
*The Applied Bank home equity line of credit is a variable rate line of credit secured by a Delaware or Pennsylvania residence and not exceeding an 85% loan to value ratio (LTV).
The advertised introductory 2.49% APR (Annual Percentage Rate) applies to new lines of credit of $5,000 or more. The introductory rate is based on Wall Street Journal Prime (WSJP) minus 2.26% and will apply to the first 6 months. The maximum line amount for this promotion and product is $250,000. The 6-month introductory period begins at loan closing.
After the expiration of the 6-month introductory rate period, the variable APR will be based on the WSJP as published daily plus or minus a margin, and will vary with WSJP, but will not be below 4.99% APR. The advertised 4.99% APR is available to well qualified applicants for variable rate lines of credits of $100,000 with automatic deduction of payment from an Applied Bank deposit account. APR will increase 0.25% if automatic payment is discontinued. Your APR is based on credit qualifications, appraisal requirements, DTI, and payment option selected. Your APR will not exceed 18% at any time during the term of your account. WSJP may change at any time and is subject to change without notice.
There are no fees to open an account. Applied Bank will pay certain closing fees on your behalf. If you pay off and close your line of credit within 36 months of opening it, you will be required to reimburse us for those closing costs up to $500. Closing costs for lines of credit up to $250,000 typically range from approximately $273 to $4,000 depending on the line amount, appraisal requirements and property location. There is no annual fee for the first year, then $50 per year thereafter.
Property insurance is required. Flood insurance may be required. Rate and terms subject to change and may be withdrawn without notice. Rates are available to qualified borrowers and loans are subject to credit approval. Introductory rate offer does not apply to refinance of existing Applied Bank debt or properties currently listed for sale.