With a Fixed-Rate Loan Option, you’ll enjoy the predictability of fixed payments when you convert some or all of the balance on your Bank of America variable-rate HELOC. Find out if a Fixed-Rate Loan Option could help meet your home equity needs.

A line of credit secured by your home with a set limit. You can access your funds when you want and pay interest only on the funds you use. The variable interest rate is determined at the time you withdraw funds from your account. A HELOC is often used for major expenses such as education, medical bills.

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Banks that offer hybrid HELOCs, like Wells Fargo, Bank of America and TD Bank, usually allow borrowers to convert either a portion or all of their loan from a variable to a fixed rate.

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home equity line of Credit Rates TD Bank offers multiple Home Equity Line of Credit options. Review them below, and compare rates, fees, line amounts and other factors to determine which option works best for you.

How to Get Approved for a HELOC? View current home equity interest rates based on Bankrate.com’s weekly national survey of large banks and thrifts. Get current home equity interest rates and recent rate trends, every week, from.

As of March 9, 2019, the variable rate for Home Equity Lines of Credit ranged from 4.75% APR to 8.25% APR. Rates may vary due to a change in the Prime Rate, a credit limit below $100,000, an LTV above 70%, and/or a credit score less than 730.

The following discounts are available on a new home equity line of credit (HELOC): (1) an "auto pay" discount of 0.25% for setting up automatic payment (at or prior to HELOC account opening) and maintaining such automatic payments from an eligible Bank of America deposit account; (2) an "initial draw" discount of 0.10% for every $10,000 initially withdrawn at account opening (up to 1.50% for initial draws of $150,000 or more) when that minimum balance is maintained for at least the.

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