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Home Equity Loan (HELOAN)

Current fixed rates as low as

8.04% APR1

Rate includes a discount for automatic payments from a Flagstar deposit account.

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Turn “someday” into “today” with a home equity loan.

Use the equity you’ve built up in your home to remodel the kitchen, replace the roof, or accomplish whatever major goal is on your list. You'll receive the entire loan amount at once so you can go all in. Start your next project today by applying for a home equity loan. 

Terms that match your budget

Pay off your home equity loan in 10, 15, or 20 years.

Predictable monthly payments

With a fixed interest rate, your payments stay the same.

An easy way to save

Get a 0.25% interest rate discount with automatic monthly payments from a Flagstar account.1

 

Apply for a home equity loan.

Not sure if a home equity loan is right for you? Our talented bankers can answer your questions and help you decide. Then when you're ready, you can apply online or at a branch. As soon as your loan is approved, we'll schedule your closing to get your funds to you ASAP. 

  • Loan amounts from $10,000 to $1 million
  • Receive the entire loan amount at closing
  • Fixed interest rate for the life of the loan
  • Terms available for 10, 15, or 20 years
  • 0.25% interest rate discount with automatic monthly payments from a Flagstar account1

Get started

Ready to apply online?

Start your loan application here. Don't worry—if you get stuck, we're just a phone call away.  

 

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For qualified borrowers. Subject to credit approval, underwriting approval, and lender terms and conditions. Programs subject to change without notice. Some restrictions may apply. Not a commitment to lend.

1Flagstar Home Equity Loan (HELOAN) is a fixed-rate and term loan for loan amounts of $10,000 to $1 million with amortization options of 10, 15, and 20 years secured by primary residence; specifically, 1- to 4-unit residential homes and modular homes. The annual percentage rate (APR) of 8.04% APR is effective as of 12/3/2023. The APR calculation is based on a $75,000 loan amount, 20-year term loan in second lien position, with an 80% or lower combined loan-to-value (CLTV), and 240 monthly payments of $418.22, and reflects a 0.25% interest rate discount for monthly automatic payments established and elected at the time of application to be paid from a borrower's Flagstar Bank deposit account. The actual APR may vary due to loan programs being offered, lien position, credit history, rates in effect at the time of application, loan-to-value (LTV), amortization terms, and other factors. The APR is based on loan amount, loan term, interest rate, and includes an estimated 15 days of prepaid interest. The APR may change if the loan amount, interest rate, loan term, or number of days of prepaid interest changes. Interest rate discount of 0.25% is available for HELOANs with monthly automatic payments (ACH) established and elected at the time of application to be paid from a borrower’s Flagstar Bank deposit account. APR is subject to change at any time prior to consummation. No bank-imposed closing costs. Borrower will be responsible for prepaid interest and all applicable state and government specific charges and taxes. Property insurance is required; if the collateral is determined to be in an area having special flood hazards, flood insurance will be required as well. Borrower will make monthly principal and interest payments. Borrower is responsible for paying separate property taxes and insurance. Rates apply to new HELOAN accounts and may not apply to existing HELOAN accounts. Borrowers must have verifiable income. Offer not valid in Texas, Puerto Rico, or the U.S. Virgin Islands. Not a commitment to lend. Programs available only to qualified borrowers. Subject to credit approval, underwriting approval, and lender terms and conditions. Programs subject to change without notice. HELOANs are only offered through a Retail Banking Branch. Some restrictions may apply.

CONSIDERATIONS: The annual percentage rate (APR), fees and charges may vary by product and property state. Consolidating or refinancing debt may increase the time and/or the finance charges/total loan amount required to repay the debt. Please 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.

Fair Lending Statement

Flagstar Bank NMLS# 417490