Minimum line size associated with this rate is $25,000. Certain other conditions and restrictions may apply. To qualify for these rates, client should also possess a Beacon Score of 700 or greater and have a debt-to-income ratio of 40% or less. Rates may be higher for clients with high “BNI” scores. This score is provided by the credit bureau, and is used to assess the likelihood of Bankruptcy being declared within a 24-month period. This offer is limited to owner-occupied, single family dwellings and is not valid for rental properties, cooperatives, mobile homes, or residential lots. Prime Rate is a variable rate based on the Prime Rate published on the first day of each month in the Eastern Edition of The Wall Street Journal. As of January 1, 2014, the Prime Rate is 3.25%. The annual percentage rate offered of 3.75% (4.25% for SC) is a variable rate, and is subject to change. The maximum rate that you can be charged is 18% or the maximum permitted by state law, whichever is less. There is no origination fee charged to open a BB&T Home Equity Line. Other fees may be charged at origination, closing or subsequent to closing, ranging from $0 to $1500, and may vary per state. A client opting to make interest-only payments on a outstanding balance of $25,000 would remit $78.13 per month at the advertised APR (3.75% variable APR…$88.54 for SC at 4.25% variable APR). Other rates available. There is a $50 annual fee in AL, GA, FL, KY and IN. Property insurance, and flood insurance where applicable, may be required. BB&T will pay the appraisal fee for a non-jumbo loan (less than or equal to $417,000). If you pay off your BB&T Home Equity Line of Credit within 36 months from the date of loan origination, you may be required to remit the appraisal fee or other closing costs BB&T paid on your behalf. The fees and rates presented online may vary from offers available in BB&T branch locations.
Consult your tax advisor for details. A 1098 will be issued as required by law.
BB&T will pay the appraisal fee for a non-jumbo loan (less than or equal to $417,000). If you pay off your BB&T Home Equity Loan or Line of Credit within 36 months from the date of loan origination, you may be required to remit the appraisal fee or other closing costs BB&T paid on your behalf. There is no annual fee on a BB&T Home Equity Line of Credit unless you live in the following states: AL, GA, FL, KY, and IN, where there is a $50 annual fee.
Online applicants must be 18 years of age (19 in Alabama).
Online application is available in all BB&T footprint states with exception of Texas.
All BB&T mortgage professionals are registered on the Nationwide Mortgage Licensing System & Registry (NMLS), which promotes uniformity and transparency throughout the residential real estate industry.
Search the NMLS Registry
Online offers and fees may vary from those available at BB&T financial centers.
Loans and Lines of Credit offered through Branch Banking and Trust Company, Member FDIC and Equal Housing Lender.
© 2014, Branch Banking and Trust Company. All rights reserved.