Here to help you:
1.800.FULTON.4
HOME EQUITY LINE OF CREDIT1
N O W
N O W
2.49%2
Special introductory
APR for 6 months
L A T E R
L A T E R
3.50%3
Variable APR after the
introductory period
Benefits of a Home Equity Line of Credit
HOME EQUITY LINE OF CREDIT1
N O W
N O W
2.49%2
Special Introductory
APR for 6 months
L A T E R
L A T E R
3.50%3
Variable APR after the
introductory period
ANYTIME ACCESS >>
PAYMENT OPTIONS >>
MORE CASH >>
AFFORDABLE >>
Benefits of a
Home Equity Line of Credit
ANYTIME ACCESS›
PAYMENT OPTIONS›
MORE CASH›
AFFORDABLE›
How much could you get?
Here’s how our lendable home equity is determined. An example based on 80% finances:
Appraised value of home $200,000
80% of appraisal x0.80
---------------
$160,000
Less first mortgage -$125,000
---------------
Here’s how our lendable home equity is determined. An example based on 85% finances:
Appraised value of home $200,000
85% of appraisal x0.85
---------------
$170,000
Less first mortgage -$125,000
---------------
Frequently asked questions:
Home equity loan vs. equity line?
Home equity loans typically have a fixed interest rate, meaning the payment is the same each month; that makes them easier to factor into your budget.
A home equity line of credit (HELOC) is similar to a credit card; you have a certain amount of money to borrow and pay back, but you can use what you need as you need it. You pay interest only on the amount you draw.
What's a fixed vs. variable interest rate?
Fixed-rate financing means the interest rate on your loan does not change. Variable-rate financing means the interest rate on your loan or line of credit can change throughout the life of the product. This rate change may be based on factors such as "prime rate" or another rate called an “index.”
What does LTV mean?
LTV stands for loan-to-value. It is the total amount of liens on a property divided by its fair market value. LTV is one factor used to determine how much you’re eligible to borrow.
Is the interest I pay tax deductible?
Under the new tax law, only certain interest is deductible. For example, money used to improve your home. Consult with your tax advisor to determine if the interest you pay is eligible.
How can I use my HELOC?
You can easily access your line of credit for virtually anything you need. Use it for home improvements, to consolidate high interest debt, for medical expenses, to help pay for student loan debt, or to create an emergency fund.
Fulton Bank, N.A. Member FDIC.
Fulton Bank does not offer products and services to individuals that live outside of our service area. View our service area here.
1The product is a variable rate line of credit secured by the primary residence and not exceeding an 80% loan-to-value (LTV) ratio. This account includes a fixed-rate option. This rate may vary, but once established as a new Fixed Rate Advance, will not vary thereafter. A $100 rate lock fee applies each time you establish a Fixed Rate Advance (except in the State of MD). The fee is waived if the rate is locked at closing. A separate rate schedule applies for Fixed Rate Advances.
Most closing cost fees will be waived on primary 1-4 family residence secured credits up to 80% LTV. Closing costs for lines of credit of up to $500,000 typically range from approximately $185 to $1994 depending on line amount, appraisal requirements and property location. Properties that require a commercial appraisal may incur additional costs of up to $3875. For properties in PA, DE, and NJ, if you close your account or your account goes into default within 36 months of opening it, you will be required to pay back any closing cost fees the bank initially paid on your behalf.
In addition, the borrower is required to purchase title insurance if the line is used to purchase the collateral property or the line amount is for more than $500,000. For properties held in the name of a trust, a $300 Trust Review fee will be charged and cannot be waived. The borrower will be responsible to pay mortgage satisfaction fees at the time of loan termination. Property insurance is required. For properties in MD & VA, Fulton Bank will only pay municipal recordation taxes on the Eligible Property Value subject to the tax. Eligible Property Value, for purposes of this payment of taxes, is defined as the lesser of the following two amounts: $250,000 or the difference between the appraised value of the property and the sum total of any recorded liens. Municipal recordation taxes are based on loan amount and taxes charged in excess of the sum paid for by the bank are the responsibility of the borrower.
2The advertised introductory rate applies to new lines of credit of $5,000 or more. There is no maximum line amount required to qualify for this introductory APR offer. The 6-month introductory period begins at loan closing. The introductory APR offer may be withdrawn at any time and is subject to change without notice. The introductory rate offer does not apply to the refinance of existing Fulton Bank debt. Rates are accurate as of 03/01/2021.
3After the expiration of the 6-month introductory rate period, the variable APR will be based on the Wall Street Journal Prime (WSJP) rate as published daily plus or minus a margin, and will vary with WSJP. The advertised 3.50% APR is our current standard rate with automatic deduction of payment from any Fulton Bank deposit account. Your APR is based on credit qualifications, appraisal requirements, LTV ratio, and payment option selected and will increase by 0.25% if automatic payment is discontinued. The WSJP rate may change at any time and is subject to change without notice. Your APR will not exceed 18% at any time during the term of your account.
Rates and terms are subject to change and may be withdrawn without notice. Rates are available to qualified borrowers and loans are subject to credit approval. Properties currently listed for sale may not be pledged as collateral for OptionLine. A minimum credit score of 620 is required.
4Message and data rates may apply.
1.800.385.8664
One Penn Square, Lancaster, PA, 17602