Open the door to new opportunities
Life is going to change. Make sure you’re ready. A Home Equity Line of Credit gives you a credit line based on the equity in your home. You can access this cash for an initial 10 years1 without reapplying for a loan. So you have flexibility to take on what’s down the road.Apply Now
Why choose a Home Equity Line of Credit?
Other Home Equity Lines of Credit Features
Home Equity Personal Credit Lines
Your rate is based on the 43215 ZIP code.
Rates effective as of Wednesday, September 02, 2015.
|Up to $24,999||7.52% APR to 10.08% APR|
|$25,000 - $49,999||5.45% APR to 8.01% APR|
|$50,000 - $74,999||4.78% APR to 7.34% APR|
|$75,000 - $149,999||3.31% APR to 5.87% APR|
|$150,000 and above||3.31% APR to 5.87% APR|
CURRENT PRIME RATE IS 3.25% AS OF AUGUST 31, 2015. DEPENDING ON CUSTOMER'S QUALIFICATIONS, VARIABLE APRS RANGE FOR LINE AMOUNTS AS STATED ABOVE. CUSTOMER'S SPECIFIC RATE IS SUBJECT TO APPLICATION, APPROVAL AND ACCEPTABLE PROPERTY APPRAISAL AND TITLE SEARCH; LOAN-TO-VALUE(LTV) RATIO; CREDIT HISTORY; LINE AMOUNT; LIEN POSITION; OPTIONAL AUTOMATIC PAYMENT DEBIT FROM A HUNTINGTON CHECKING ACCOUNT; WHETHER OR NOT PROPERTY IS OWNER-OCCUPIED; RATE REGION GENERALLY BASED ON PROPERTY STATE; AND MEETING CERTAIN UNDERWRITING CRITERIA. THE APR IS VARIABLE AND CAN CHANGE EACH MONTH, BUT WILL NEVER BE HIGHER THAN 18.00%. LOWEST RATES IN EACH TIER REFLECT A 0.15% DISCOUNT FOR OPTIONAL AUTOMATIC PAYMENT FROM A HUNTINGTON CHECKING ACCOUNT. AN ADDITIONAL DISCOUNT OF 0.25% IS AVAILABLE BY TAKING A $25,000 OR MORE DRAW AT CLOSING; THIS DRAW EXCLUDES ANY FUNDS USED TO PAY EXISTING HUNTINGTON DEBT. LOWEST RATE AVAILABLE IS FOR WELL QUALIFIED BORROWERS WHO ARE APPROVED FOR A NEW LINE AMOUNT OF $75,000 OR GREATER AND ALSO TAKE A LINE ADVANCE OF $25,000 OR MORE; A LOAN-TO-VALUE RATIO OF 80%; 0.15% DISCOUNT FOR AUTOMATIC PAYMENT; ASSUMES PROPERTY IS OWNER-OCCUPIED; FIRST LIEN POSITION; A CREDIT SCORE OF 740 OR HIGHER; AND, RATE REGION GENERALLY BASED ON PROPERTY STATE. BORROWER-PAID TITLE INSURANCE IS REQUIRED ON LINE AMOUNTS GREATER THAN $500,000. OFFER SUBJECT TO CHANGE WITHOUT NOTICE.
THE HOME EQUITY CREDIT LINE HAS A $60 ANNUAL FEE. THE INITIAL FEE WILL BE CHARGED ON YOUR FIRST BILLING STATEMENT AND THEN ANNUALLY, THEREAFTER.
THE APR IS BASED ON PRIME PLUS OR MINUS A MARGIN. THE MARGIN IS BASED ON YOUR HOME'S LOAN-TO-VALUE RATIO, LIEN POSITION, OWNER OCCUPANCY STATUS, APPLICANT'S CREDIT HISTORY, AND THE AMOUNT OF THE CREDIT LINE. "PRIME" MEANS BANK PRIME LOAN RATE PUBLISHED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM IN ITS STATISTICAL RELEASE H.15(519) ENTITLED "SELECTED INTEREST RATES." USE OF THE WORD "PRIME" DOES NOT MEAN THAT THE RATE IS THE BEST OR LOWEST RATE OFFERED BY ANY LENDER. INSURANCE MUST BE CARRIED ON THE REAL PROPERTY SECURING THE ACCOUNT, AND FLOOD INSURANCE IS REQUIRED ON BUILDINGS LOCATED IN A SPECIAL FLOOD HAZARD AREA. THERE MAY BE AN EARLY CANCELLATION FEE OF 1% OF APPROVED CREDIT LIMIT OR $350, IF YOU CLOSE YOUR ACCOUNT WITHIN 3 YEARS (NOT APPLICABLE IN IN AND PA.) THE AMOUNT OF SAVINGS REALIZED WITH DEBT CONSOLIDATION VARIES BY LOAN. SINCE A HOME EQUITY LINE MAY HAVE A LONGER TERM THAN SOME OF THE BILLS BEING CONSOLIDATED, THERE MAY NOT BE A SAVINGS OVER THE ENTIRE TIME OF THE LINE IF YOU MAKE ONLY THE MINIMUM PAYMENTS. MINIMUM PAYMENT REQUIREMENT IS INTEREST ONLY FOR THE FIRST 10 YEARS, FOLLOWED BY A 20-YEAR PAYMENT PERIOD. MAKING ONLY THE MINIMUM PAYMENT DURING THE FIRST 10 YEARS WILL NOT REDUCE THE PRINCIPAL BALANCE ON THE ACCOUNT. INSURANCE MUST BE CARRIED ON THE REAL PROPERTY. FEDERALLY GUARANTEED STUDENT LOANS AND OTHER LOANS WITH SPECIAL GOVERNMENT BENEFITS SHOULD NOT BE CONSOLIDATED BECAUSE YOU MAY LOSE THE BENEFITS. ADVERTISED RATES ARE SUBJECT TO CHANGE AT ANY TIME AND DOES NOT APPLY TO REFINANCING OF EXISTING HUNTINGTON ACCOUNTS. CREDIT SUBJECT TO APPLICATION, CREDIT APPROVAL, ACCEPTABLE APPRAISAL AND TITLE SEARCH. CONSULT YOUR TAX ADVISOR REGARDING THE DEDUCTIBILITY INTEREST.
1There is a Draw Period for 10 years after the account is opened during which advances and purchases may be made, and during which reductions to principal are not required (unless credit limit has been exceeded), followed by a 20-year Repayment Period during which the minimum monthly payments amortize the outstanding balance on the line at the end of the Draw Period.
All lending products are subject to application and credit approval. Home equity loans and lines also subject to acceptable appraisal and title search.
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