Your home is likely your biggest asset. At Howard Bank, we underst和 the value of your home equity as a financial resource.

Our home equity option helps you use your home’s value to meet your financial goals. 我们提供:

  • Home equity lines of credit: 像信用卡一样, a home equity line of credit (HELOC) offers revolving credit that allows you to continually borrow up to your limit. Once approved for a specific credit limit, you can access the funds anytime. The credit automatically renews as you make payments.

    We currently offer two options:

                感兴趣的只有
    • No existing home mortgage needed to apply.
    • Variable interest rate based on the prime rate plus 1.00%.1
    • Credit limit of up to 80% of your loan-to-value ratio with a 10-year draw period.
    • Minimum amount of $10,000 和 maximum of $1,000,000.
    • 1.00% discount if you have an automatic loan payment set up out of a Howard Bank checking account.2

      主要 & 感兴趣 
    • No existing home mortgage needed to apply.
    • Variable interest rate based on the prime rate plus 1.00%.1
    • Credit limit of up to 85% of your loan-to-value ratio on homes that have an appraised value of less than $1,000,000 with a 10-year draw period.
    • 1.00% discount if you have an automatic loan payment set up out of a Howard Bank checking account.2
    • 月供为1.00% of your outst和ing balance. 
    • Minimum amount of $10,000 和 maximum of $1,000,000.

With our home equity option:

  • Your primary residence serves as collateral (property pledged as security for repayment).3
  • You can use the funds however you choose for needs like home improvement, 债务偿还, or small business expenses.
     

准备开始了?

Contact your local branch  

All loans are subject to credit review 和 approval. Please consult your tax advisor regarding the deductibility of interest.  利率 和 Terms subject to change without notice.

  1. The Home Equity Line of Credit (HELOC) Variable Annual Percentage Rate (APR), is based on the U.S. Prime Rate published in The Wall Street Journal (质数)加上保证金. APR will vary depending on factors including but not limited to credit qualifications 和 loan-to-value ratio. 最大4月24%.  费用: The deferred Closing Cost feature is subject to the terms 和 conditions stated in the Deferred Closing Costs Addendum, the Early Home Equity Line of Credit (HELOC) Disclosure 和 the Credit Agreement 和 Disclosure, which requires you to keep the account open for two years.  Prince George’s transfer tax must be paid at settlement by borrower.  If you close the account earlier, the deferred closing costs will become due 和 payable.
  2. A 1.00% interest rate reduction off the st和ard rate is available if the HELOC payment is automatically deducted from a Howard Bank checking account (at or prior to HELOC account opening).  Discount is only applicable as long as payments are set up for automated payment from a Howard Bank checking account.
  3. Eligible properties include owner-occupied 1- to 4- family properties, 公寓, 和2号/度假屋. Ineligible properties include, but are not limited to: investment property (defined as non-owner occupied property), 一个合作社, single wide mobile home, 或商业地产. Home equity lines of credit are available in first or second lien positions. Not available for homes currently for sale. Adequate property insurance required.  Flood 和 title insurance may be required. Additional terms 和 conditions may apply, depending on the type 和 location of collateral 和 other terms offered or chosen.