Turn the equity in your primary or secondary residence into a flexible credit line that lets you borrow the money you need when you need it. You can use your line of credit for large purchases, home improvements, tuition, a vacation – whatever you choose.
| BB&T Home Equity Line of Credit |
| Good if you require... |
A flexible credit line with a variable rate that lets you borrow the money you need when you need it |
| Recommended Uses |
- Home improvement
- Tuition or education costs
- Unplanned expenses
|
| Minimum Line Amount |
$10,000 |
| Maximum Term |
Funds may be advanced for up to 15 years |
| Competitive Interest Rates |
As low as 4.25% variable APR* |
| Tax Advantages |
Interest may be up to 100% tax deductible** |
| Choice of Repayment Options |
- 1.5% of the outstanding balance
- Interest-only payments
|
| Fees and Closing Costs |
None† |
| Fixed Option Feature‡ |
- Create up to 3 loans with a fixed rate, term, and payment within your line of credit
- Your available credit is instantly replenished as you make payments to any Fixed Option loan
|
| Access to Money |
Gain immediate access to funds:
- Home equity line checks
- 24/7 online
- By phone
- At any BB&T financial center or ATM
|
| Overdraft Protection |
Avoid overdraft fees and protect your credit rating by linking your BB&T Home Equity Line of Credit to your BB&T checking account |
| Payment Protection Plan |
Our optional payment protection plan continues to make payments on your BB&T home equity line of credit if you are sick, injured, unable to work, or if you lose your job |
CalculatorsCrunch the numbers and get answers tailored to your needs to help you make the right decision about a home equity loan or line of credit.
How Do I Apply?
*Outstanding balances on your new line of credit will be calculated at a standard variable APR of Prime Rate plus 1.00% for the life of the loan (currently 4.25% APR). This offer is subject to credit approval and is based on a minimum line amount of $25,000. Client must possess a Beacon Score of 700 or greater, and the maximum loan-to-value (LTV) for this loan must be 80% or less. Certain conditions and restrictions may apply. All rates are variable and subject to change at any time without notice and may be higher or lower than the rate currently offered. Prime Rate is a variable rate based on the Prime Rate established on the first day of each month in the Eastern Edition of The Wall Street Journal. As of June 22, 2009, the Prime Rate is listed at 3.25%. APR will not exceed 18.0% or the maximum permitted by state law, whichever is less. This is a limited time offer available on new Home Equity Lines only. There is a $50 annual fee in GA, FL, KY, and IN. Property insurance, and flood insurance where applicable, may be required. This offer is limited to owner-occupied, single family dwellings and is not valid for rental properties, cooperatives, mobile homes, or residential lots.
**Consult your tax advisor for details.
†For home equity lines and loans up to $250,000, BB&T will pay all closing costs on your behalf and up to $250 in attorney fees in states where attorney closings are required. The only exceptions will be the costs associated with either title insurance, a full outside appraisal (these items may not be required for loans less than $250,000), or any intangible, county, or state taxes. If you close your BB&T Home Equity Line of Credit within 36 months from the date of loan origination, you may be required to remit the closing costs paid on your behalf. There is a $50 annual fee in GA, FL, KY, and IN.
‡Available on all BB&T Home Equity Lines opened after June 25, 2007.
