Home Equity Line Of Credit With No Annual Fee, Ever*
As low as 1.49% fixed APR for 12 months**
Then as low as 3.99% variable rate after that**
Use The Equity In Your Home For Home Improvements
For unexpected repairs or the project you’ve been picturing for years, a home equity line of credit or loan is a great way to tackle your to-dos.
- Take on that kitchen remodel you’ve been dreaming about
- Stop putting off those window replacements and roof repairs
- Make another big purchase (new car, anyone?) and take advantage of a lower rate
- Say goodbye to higher-interest debt
Home Equity Line of Credit (HELOC)
A great option for when you need more flexibility. You have access to a pool of money and only borrow what you need when you need it.
- Borrow up to 100% of your home’s equity (maximum loan amounts apply)
- Get a variable rate as low as prime minus 0.50%3
- Lock in your balance to a low rate for a term of up to 15 years5
- No or low closing costs6
- Forget about annual fees or prepayment penalties*
- Deduct your interest from your taxes (if eligible)7
- Use it whenever anything unexpected comes up
- Access your funds easily online
Home Equity Loan
A great option for when you have a project in mind and know the price tag. You take a set amount of money at a fixed rate and term.
- Borrow up to 100% of your home’s equity (maximum loan amounts apply)
- Get a great, low rate with low closing costs
- Deduct your interest from your taxes (if eligible)7
- Never pay an annual fee or prepayment penalty
home equity line of credit rates
The rates below are based on loan-to-value (LTV) ratio, which is your mortgage balance divided by your home’s value.
Home Equity Line of Credit (HELOC) Rates
Apply
As Low As 1.49% APR
First 12 Months**
3.99% APR
Variable Rate After That
Home Equity Line of Credit — Up to 70% LTV (Variable/Fixed)
Rates Effective January 16, 2021
Calculate your monthly payment
| Term (up to) | APR (as low as) | VPR (as low as) | Monthly Payment | |
| 12-Month Fixed Intro Rate4 | 1.49% | Minimum $50 or 1.25% of the principal balance as of the time of the draw, whichever is greater |
|
|
| Variable, Revolving3 | 3.99% | Prime - 0.50% | Minimum $50 or 1.25% of the principal balance as of the time of the draw, whichever is greater |
|
| Fixed 60 Months2 | 3.99% | $18.45 |
|
|
| Fixed 120 Months2 | 4.99% | $10.63 |
|
|
| Fixed 180 Months2 | 6.49% | $8.74 |
|
Home Equity Line of Credit — Up to 80% LTV (Variable/Fixed)
Rates Effective January 16, 2021
Calculate your monthly payment
| Term (up to) | APR (as low as) | VPR (as low as) | Monthly Payment | |
| 12-Month Fixed Intro Rate4 | 1.49% | Minimum $50 or 1.25% of the principal balance as of the time of the draw, whichever is greater |
|
|
| Variable, Revolving3 | 3.99% | Prime - 0.50% | Minimum $50 or 1.25% of the principal balance as of the time of the draw, whichever is greater |
|
| Fixed 60 Months2 | 3.99% | $18.45 |
|
|
| Fixed 120 Months2 | 4.99% | $10.63 |
|
|
| Fixed 180 Months2 | 6.49% | $8.74 |
|
Home Equity Line of Credit — Up to 90% LTV (Variable/Fixed)
Rates Effective January 16, 2021
Calculate your monthly payment
| Term (up to) | APR (as low as) | VPR (as low as) | Monthly Payment | |
| 12-Month Fixed Intro Rate4 | 2.99% | Minimum $50 or 1.25% of the principal balance as of the time of the draw, whichever is greater |
|
|
| Variable Revolving3 | 4.49% | Prime + 0.50% | Minimum $50 or 1.25% of the principal balance as of the time of the draw, whichever is greater |
|
| Fixed 60 Months2 | 4.99% | $18.91 |
|
|
| Fixed 120 Months2 | 5.99% | $11.13 |
|
|
| Fixed 180 Months2 | 6.99% | $9.01 |
|
Home Equity Line of Credit — Up to 100% LTV (Variable/Fixed)
Rates Effective January 16, 2021
Calculate your monthly payment
| Term (up to) | APR (as low as) | VPR (as low as) | Monthly Payment | |
| 12-Month Fixed Intro Rate4 | 5.99% | Minimum $50 or 1.25% of the principal balance as of the time of the draw, whichever is greater |
|
|
| Variable, Revolving3 | 7.99% | Prime + 3% | Minimum $50 or 1.25% of the principal balance as of the time of the draw, whichever is greater |
|
| Fixed 60 Months2 | 8.49% | $20.59 |
|
|
| Fixed 120 Months2 | 9.89% | $13.21 |
|
|
| Fixed 180 Months2 | 10.24% | $10.95 |
|
home equity loan rates
The rates below are based on loan-to-value (LTV) ratio, which is your mortgage balance divided by your home’s value.
Home Equity Loan Rates — Up to 70% LTV
Rates Effective January 16, 2021
Calculate Your Monthly Payment
| Term (up to) | APR (as low as) | Monthly Payment | |
| 36 Months | 3.99% | $29.58 |
|
| 48 Months | 3.99% | $22.62 |
|
| 60 Months | 3.99% | $18.45 |
|
| 84 Months | 4.49% | $13.93 |
|
| 120 Months | 4.99% | $10.63 |
|
| 180 Months | 6.49% | $8.74 |
|
Home Equity Loan Rates — Up to 80% LTV
Rates Effective January 16, 2021
Calculate Your Monthly Payment
| Term (up to) | APR (as low as) | Monthly Payment | |
| 36 Months | 3.99% | $29.58 |
|
| 48 Months | 3.99% | $22.62 |
|
| 60 Months | 3.99% | $18.45 |
|
| 84 Months | 4.49% | $13.93 |
|
| 120 Months | 4.99% | $10.63 |
|
| 180 Months | 6.49% | $8.74 |
|
Home Equity Loan Rates — Up to 90% LTV
Rates Effective January 16, 2021
Calculate your monthly payment
| Term (up to) | APR (as low as) | Monthly Payment | |
| 36 Months | 4.99% | $30.03 |
|
| 48 Months | 4.99% | $23.08 |
|
| 60 Months | 4.99% | $18.91 |
|
| 84 Months | 5.49% | $14.40 |
|
| 120 Months | 5.99% | $11.13 |
|
| 180 Months | 6.99% | $9.01 |
|
Home Equity Loan Rates — Up to 100% LTV
Rates Effective January 16, 2021
Calculate your monthly payment
| Term (up to) | APR (as low as) | Monthly Payment | |
| 36 Months | 8.49% | $31.68 |
|
| 48 Months | 8.49% | $24.73 |
|
| 60 Months | 8.49% | $20.59 |
|
| 84 Months | 8.64% | $15.79 |
|
| 120 Months | 9.89% | $13.21 |
|
| 180 Months | 10.24% | $10.95 |
|
Tools & Resources
Calculators
Worksheets
FAQs
Amount of equity in your home based on loan-to-value.
HOME EQUITY LOAN OR LINE OF CREDIT?
Find out what works best for you.
CALCULATE A HOME EQUITY LOAN PAYMENT
Calculate your loan payment.
CALCULATE A HOME EQUITY LINE OF CREDIT PAYMENT
Calculate your home equity line of credit payment.
CONSOLIDATING DEBT WITH HOME EQUITY
Home equity loans can be used to consolidate account balances from multiple credit cards or installment loans into a single loan.
Related Content
From home improvements to paying off higher interest debt, there are many ways to use your home's equity. Learn about the difference between a Home Equity Loan and Home Equity Line of Credit - and how you can use one to make things happen.
Your home is your castle, your refuge and—let’s face it—a place where it can be very easy to sink a big chunk of money. Which is why you’re always on the lookout for “sweet spots”: those home improvements that add comfort, safety or a little zing of style while you’re living in your house and will boost the asking price when it’s time to sell.
Ready to tackle your home improvement to-do list?
Find out if now’s the right time with Summit’s Three-Step Debt Analysis Quiz.
Find out if now’s the right time with Summit’s Three-Step Debt Analysis Quiz.
Your home is your castle, your refuge and—let’s face it—a place where it can be very easy to sink a big chunk of money. Which is why you’re always on the lookout for “sweet spots”: those home improvements that add comfort, safety or a little zing of style while you’re living in your house and will boost the asking price when it’s time to sell.