A home equity loan is an excellent way for homeowners to finance large projects, purchases, and expenses. A BB&T Home Equity Loan has a fixed rate and payment schedule and can be secured by the equity in your primary or secondary residence, and in some cases even investment property. Loans are subject to credit approval.
| BB&T Home Equity Loan |
| Good if you require... |
A loan with a fixed rate, term, and monthly payment that lets you borrow money in a lump sum |
| Recommended Uses |
- Debt consolidation
- Major home renovations
- Purchase of a recreational vehicle or car
|
| Minimum Loan Amount |
$10,000 |
| Maximum Term |
Up to 15 years |
| Competitive Interest Rates |
As low as 4.49% fixed APR* |
| Tax Advantages |
Interest may be up to 100% deductible** |
| Repayment Options |
Fully amortizing, fixed monthly payment |
| Fees and Closing Costs |
No fees or closing costs† |
| Account Access |
Get account information and make payments:
- 24/7 online
- By phone
- At any BB&T financial center or ATM
|
| Personal Banking Solutions |
A home equity loan may qualify you for an Elite Gold, Classic Banking or Access Banking checking account |
| Payment Protection Plan |
Our optional payment protection plan continues to make payments on your BB&T Home Equity Loan 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?
*Offer based on a term up to 60 months. This rate offer may change at any time. Other rates and terms available. Rates on requests to refinance existing BB&T debt may be higher. To be eligible for this special rate, a client must possess a Beacon Score of 700 or greater and be approved for a loan of $15,000 or more. For requests where the property value is $250,000 or less, the maximum loan-to-value (LTV) associated with this special rate is 80%. For property values above $250,000, the maximum loan-to-value (LTV) associated with this special rate will be lower. For comparative purposes, at an APR of 4.49%, a client who finances $20,000 with a 0% origination fee and an amortization of 60-months would remit payments of $372.86 per month. Property, and if applicable, flood insurance must be in effect on the property being secured. 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 requests entered online and where the proposed collateral is located in NC, MD or DC, BB&T will remit the closing costs on a client's behalf. For online requests submitted from clients in all other states, BB&T will pay up to $250 in closing costs. The only exceptions will be the costs associated with title insurance or a full outside appraisal (these items typically not 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 that BB&T paid on your behalf. There is no annual fee on BB&T Home Equity Lines unless you live in the following states: GA, FL, KY, and IN, where there is a $50 annual fee. BB&T's standard 1% origination fee for a home equity loan will be waived if the client possesses a Beacon Score of 700 or greater and is approved for a loan of $15,000 or more. For requests where the subject property is valued at $250,000 or less, this offer is only applicable when the loan-to-value (LTV) is 80% or less. For property values above $250,000, the maximum LTV associated with this offer may be lower.
