Home Equity Line of Credit (HELOC)

¹Introductory Annual Percentage Rate (APR) is available for the first 6 billing cycles after the account open date and is subject to initial draw requirements and other exclusions. For lines of credit greater than $50,000, the initial draw must be the greater of 50% of the full line amount or $50,000. For lines of credit less than $50,000, the initial draw must be the full line amount. For properties in Texas, an initial draw is not required; however, if a draw is taken it must be for at least $4,000. Introductory rates are available for new HELOC accounts that are secured by a primary residence. Purchase transactions or refinances of existing Flagstar loans are not eligible for introductory rates. No other discounts are available during the introductory period. Offer can expire at any time.

²This sample APR is for illustrative purposes only and is subject to change. It is based on the Wall Street Journal Prime Rate (WSJPR) Index as of 6/6/2025, plus a margin. Sample APR reflects a primary residence transaction (outside the states of CA or NY) with the following characteristics: qualifying credit score of 760 or higher; loan amount of $75,000 or higher; Combined Loan to Value (CLTV) of 60% or lower. It also includes a 0.250% interest rate discount for setting up automated monthly payments from a Flagstar deposit account prior to closing and continuously maintaining automated payments after closing. Note: ACH discount will only apply after introductory rate expires. Important Information. A HELOC is a revolving line of credit secured by a 1-4 unit residential or modular home. After any introductory period ends, the APR and payments will be based on the WSJPR Index plus a margin. Since the WSJPR Index may change periodically, the APR and payments are variable and may increase or decrease multiple times over the life of the HELOC. The margin is fixed and is based on specific characteristics of the credit application, including credit score, line amount, property type, lien position, CLTV and geographic location. The APR will never exceed 21% or be less than the margin. Fees to open a HELOC generally range between $0 and $10,000. A fee of $75, waived for the first year, will be charged annually thereafter. Flagstar pays customary closing fees which does not include additional required fees for loans over $500,000 or some government taxes and fees. If the HELOC account is terminated within 36 months of account opening, borrower repayment of closing fees will be required. Borrower is also responsible for making separate payments for property insurance and flood insurance (if loan is in a flood zone). HELOCs are offered in all 50 states and the District of Columbia. Properties in Texas. Property type is limited to 1-unit residential structure with a maximum CLTV of 80%. There are no annual fees nor requirement for repayment of closing fees. Considerations. Programs for qualified borrowers. All borrowers are subject to credit approval, underwriting approval, and product requirements. Fees and charges may vary by state and are subject to change without notice. Some restrictions may apply. Not a commitment to lend. Consolidating or refinancing debt may increase the time and/or the finance charges/total loan amount required to repay the debt. Consult your tax advisor regarding the deductibility of interest. Important information will be provided to you in the disclosures you receive after we have received your application and within the loan documents you are provided at loan closing.

³USA Today has named Flagstar one of the best HELOC lenders of 2024 https://www.usatoday.com/money/blueprint/mortgages/best-heloc-lenders