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.
| 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 5.42% fixed APR* |
| Tax Advantages |
Interest may be up to 100% deductible** |
| Repayment Options |
Fully amortizing, fixed monthly payment |
| Fees and Closing Costs |
1% of loan amount† |
| 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?
*Subject to credit approval. Offer based on a term up to 60 months. This rate offer may change at any time. Other rates and terms available. Client must possess a Beacon Score of 700 or greater, and the maximum loan-to-value (LTV) is 80% or less. For comparative purposes, at an APR of 5.42%, a client who finances $50,000 with a 1% origination fee and an amortization of 60-months would remit payments of $943.43 per month. Property, and if applicable, flood insurance must be in effect of 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 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. There is a 1% origination fee on all BB&T Home Equity Loans.
