Home Equity Line of Credit

Flexibility, Power, and Convenience at Your Fingertips


With U.S. Century Bank's Home Equity Line of Credit (HELOC), you gain the financial flexibility to make your home work for you.

 

Rates as low as:


7.50%

Annual Percentage Rate (APR) with an auto-debit from a
U.S. Century Bank checking account 1

7.75%

Annual Percentage Rate (APR) without an auto-debit from a U.S. Century Bank checking account 1

Use your HELOC to:

 
  • Make home improvements
  • Pay for education
  • Consolidate debt 2
  • Pay for unexpected expenses

Borrow from $100,000 up to $3,000,0003, giving you the freedom to cover expenses and projects with ease.


Simplify your finances with interest-only payments for the first 10 years, followed by a total repayment term of 20 years4. This option allows you to manage your budget with ease, paying only the interest during the initial period while using the funds as you need them.
Get a .25% reduction on your interest rate1 when you set up automatic payments from your U.S. Century Bank account. This simple step can help you save money over the life of your HELOC.
Discover if you qualify for tax-deductible interest payments by meeting IRS criteria5. For detailed information, please consult your tax advisor.






1. APR. The variable APR is based on Prime plus a margin and will vary with Prime. The Prime Rate means the highest per annum “Prime Rate” of interest published from time to time by The Wall Street Journal in its “Money Rates” listings, which was 7.75% as of 11/8/2024. The margin will vary based on your credit score (740 or > at Prime, 700-739 Prime +1%, 680-699 Prime + 1.50%). Your APR will not exceed 18.00% at any time during the term of your account. This APR is based on an “auto-pay” discount of 0.25% from a U. S. Century checking account and a credit score of 740 or higher. The account must be open and funded prior to closing. The discount may be terminated upon closure of the qualifying checking account. Your APR may vary based on credit history, property type, occupancy, lien position, and other factors.
 
2. The benefits of a loan for debt consolidation depend on your individual circumstances. Interest payment savings can be made by making monthly payments towards the new, lower interest rate loan in an amount equal to or greater than what was previously paid towards the higher rate debt(s) being consolidated.
 
3. The minimum loan amount is $100,000, and the maximum amount is $3,000,000. The amount of your HELOC will depend on the value of your home and your equity in the home. The loan to value will vary based on credit score, property type, and lien position.
 
4. The term of a HELOC is 30 years: 10-year draw period, 20-year repayment period. During the 10-year draw period, your principal balance will not reduce. Your monthly payment will only cover the interest that has to be paid. The amount you borrow will remain outstanding unless you make principal reductions. At the end of the draw period is when you enter the 20-year repayment phase of your home equity line of credit. In addition to interest, you must begin repaying the principal balance.
 
5. Consult your tax advisor concerning interest deductibility.
 
Occupancy-Owner Occupied – Single Family Dwelling, PUD and Condominium. Properties owned for at least one year. First and second liens. Property insurance is always required, and flood insurance is required where necessary. Certain property types are not eligible collateral. Property location, Miami-Dade, Broward, Palm Beach, and Monroe counties.

Closing costs apply. There is an appraisal fee for all HELOCs. If the loan does not close and the appraisal fee is collected, the appraisal fee is non-refundable. Closing costs may range from $2,500.00 to $17,000.00 (based on line amounts). A $50.00 annual fee will be charged to your home equity line beginning on the first anniversary of the date on which you opened your account.

For more information on Home Equity products, refer to “What You Should Know about Home Equity Lines of Credit,” a consumer information booklet prepared by the Consumer Financial Protection Bureau.

Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice.
 
HELOCs are available to U.S. Citizens and U.S. Residents.
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