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Home Equity Loan (HELOAN)

Current fixed rates as low as

8.30% APR1

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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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Programs for qualified borrowers. All borrowers are subject to credit approval, underwriting approval, and product requirements, including loan to value, credit score limits, and other lender terms and conditions. Fees and charges may vary by state and are 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 8.30% APR is effective as of 5/18/2025. 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), credit score of 760 or higher, and 240 monthly payments of $639.05. The actual APR may vary due to loan programs being offered, lien position, credit history, rates in effect at the time of closing, 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 closing 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. Borrower will be responsible for title insurance fees for refinance land contract transactions or loan amounts greater than $500,000. 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. 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. 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.

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Flagstar Bank NMLS# 417490