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Take advantage of the equity in your home with a Home Equity Line of Credit. Introductory 6 month APR of 4.99% then 7.75% APR Subsequent Variable rate. Borrow against the equity you have already built in your home.
4.99% APR†
for 6-Months, then
7.75% Sub. Var. APR†
$25,000 - $500,000
8.24% APR†
$10,000 - $49,000
6.99% APR†
$50,000 - $500,000
8.49% APR†
$10,000 - $49,000
7.99% APR†
$50,000 - $500,000
8.49% APR†
$10,000 - $49,000
7.99% APR†
$50,000 - $500,000
✓ Choose from a variety of loan terms
✓ Fixed rate over the term of the loan
✓ One lump sum disbursement
✓ Borrow against the equity you've built in your home
✓ Low variable interest rate
✓ Flexibility to use available line amount, anytime you need it
✓ Payments based on outstanding balance
✓ Secured by equity in your home
A home equity line of credit allows you to have flexibility to borrow money as you need over time during the draw period. It is a revolving line of credit secured by your home and is the most flexible type of home financing available. It gives you flexible payment options based on how much of your line of credit you use.
As payments are made during the draw period they will reduce the outstanding principal balance on the credit line. As the principal balance is paid down the amount of the credit limit available to use will increase. For example, a $50,000 HELOC with a balance of $30,000, has $20,000 of available credit. If you pay the balance down to $10,000, you will have $40,000 in available credit.
Depending on your credit worthiness, you can borrow up to 80% of your home’s value, minus the balance of your mortgage.
Accessing the funds is easy. Simply transfer money from your line of credit into your checking account and use the funds either by writing a check or using your debit card. Watch this short video to learn how to use the Transfer Funds feature in Online Banking:
Watch Video
Applying is easy, apply online at Firstrust.com or visit a local branch to speak with a banker to assist you with your borrowing needs.
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† DISCLOSURES:
Home Equity loans and lines of credit are offered by Firstrust Bank NMLS # 424205. Firstrust National Mortgage Licensing Service (NMLS) Representatives
Home Equity Line of Credit Annual Percentage Rates (APR’s) offered are subject to change at any time and without notice. Applicants subject to credit approval. Lines of credit secured by an interest in your real estate, property insurance required. Title insurance required on lines over $400,000 with a maximum credit line of $500,000 and is estimated to range in cost from $2,600 to $3,100. Monthly payments required when there is a balance. The maximum loan-to-value ratio is 80%. The introductory APR today is 4.99% for the first 6 months. After expiration of the 6-month introductory rate period, the APR today is 7.75% which is equal to the highest U.S. Prime Rate in the Wall Street Journal + 0%, this is a variable rate which may increase. Maximum APR is 25% and the minimum APR after the introductory period is 3.25%. A $30 annual fee is waived the first year. A $250 fee applies for lines closed within twelve months of opening.
5 Year - 8.24% Annual Percentage Rate (APR) shown is subject to change at any time and without notice. All loan applications are subject to individual approval. Property insurance will be required. Title insurance is required on loans over $400,000 up to the maximum loan amount $500,000 and is estimated to range in cost from $2,600 to $3,100. APR for entire amount borrowed. Other terms and conditions apply. If the loan is secured by a first lien on a dwelling, payments do not include amounts for taxes and insurance premiums and the actual payments will be greater. A $10,000 Home Equity Loan at 8.24% would equal an APR of 8.24% with 60 monthly payments of $203.92.
5 Year - 6.99% Annual Percentage Rate (APR) shown is subject to change at any time and without notice. All loan applications are subject to individual approval. Property insurance will be required. Title insurance is required on loans over $400,000 up to the maximum loan amount $500,000 and is estimated to range in cost from $2,600 to $3,100. APR for entire amount borrowed. Other terms and conditions apply. If the loan is secured by a first lien on a dwelling, payments do not include amounts for taxes and insurance premiums and the actual payments will be greater. A $50,000 Home Equity Loan at 6.99% would equal an APR of 6.99% with 60 monthly payments of $989.83.
10 Year- 8.49% Annual Percentage Rate (APR) shown is subject to change at any time and without notice. All loan applications are subject to individual approval. Property insurance will be required. Title insurance is required on loans over $400,000 up to the maximum loan amount $500,000 and is estimated to range in cost from $2,600 to $3,100. APR for entire amount borrowed. Other terms and conditions apply. If the loan is secured by a first lien on a dwelling, payments do not include amounts for taxes and insurance premiums and the actual payments will be greater. A $10,000 Home Equity Loan at 8.49% would equal an APR of 8.49% with 120 monthly payments of $123.94.
10 Year- 7.99% Annual Percentage Rate (APR) shown is subject to change at any time and without notice. All loan applications are subject to individual approval. Property insurance will be required. Title insurance is required on loans over $400,000 up to the maximum loan amount $500,000 and is estimated to range in cost from $2,600 to $3,100. APR for entire amount borrowed. Other terms and conditions apply. If the loan is secured by a first lien on a dwelling, payments do not include amounts for taxes and insurance premiums and the actual payments will be greater. A $50,000 Home Equity Loan at 7.99% would equal an APR of 7.99% with 120 monthly payments of $606.38.
15 Year - 8.49% Annual Percentage Rate (APR) shown is subject to change at any time and without notice. All loan applications are subject to individual approval. Property insurance will be required. Title insurance is required on loans over $400,000 up to the maximum loan amount $500,000 and is estimated to range in cost from $2,600 to $3,100. APR for entire amount borrowed. Other terms and conditions apply. If the loan is secured by a first lien on a dwelling, payments do not include amounts for taxes and insurance premiums and the actual payments will be greater. A $10,000 Home Equity Loan at 8.49% would equal an APR of 8.49% with 180 monthly payments of $98.42.
15 Year - 7.99% Annual Percentage Rate (APR) shown is subject to change at any time and without notice. All loan applications are subject to individual approval. Property insurance will be required. Title insurance is required on loans over $400,000 up to the maximum loan amount $500,000 and is estimated to range in cost from $2,600 to $3,100. APR for entire amount borrowed. Other terms and conditions apply. If the loan is secured by a first lien on a dwelling, payments do not include amounts for taxes and insurance premiums and the actual payments will be greater. A $50,000 Home Equity Loan at 7.99% would equal an APR of 7.99% with 180 monthly payments of $477.54.
FT-865-05102023
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