Home Equity Line of Credit

Let your home do all the work.

Tap into the equity you’ve built up in your home. After all, it’s your money.

Home Equity Line of Credit

2.49% APR1 Promo rate for 6 billing cycles, guaranteed

4.49% APR1 Current variable rate thereafter

Want the flexibility to borrow on an as-needed basis, such as for tuition payments or emergency money in a pinch? A home equity line of credit may be just what you need.


Features you’ll love:

  • Variable interest rate based on Wall Street Journal prime rate
  • No bank-imposed costs as long as line remains open for 36 months
  • 10-year draw period, 20-year repayment period
  • Line amounts of $10,000 to $1,000,000
  • Multiple draw methods
  • Interest paid may be tax deductible2

Contact your local branch to apply for more information.


1Flagstar home equity line of credit (HELOC) annual percentage rate (APR) is variable and is based on prime rate published in the Wall Street Journal, as of August 11, 2017, plus a margin for line amounts of $10,000–$1,000,000. The 2.49% APR Promotional rate is available for 6 billing cycles after which the APR will range from 4.49% APR–21.00% APR. All stated APR ranges apply to lines secured by residential property only, 1-4 unit owner occupied, modular homes, and owner occupied secondary homes. APR stated reflects a 1.00% interest rate discount for automatic payment from Flagstar Deposit Account established at the time of application and initial draw of at least $25,000 at closing. Promotional rate not available for purchase transactions. Discounts are not available during the promotional period but will apply at the maturity of the Promotional Rate. Your APR may be higher and will be based on the variable rate index value in effect at the time of account opening, your credit qualifications, amount of the line of credit, loan-to-value ratio, and type of property. The annual fee is $75 per year. The Line must remain open for at least 36 months to avoid payment of closing fees, including, but not limited to title, appraisal, notary and recording fees. Borrower is responsible for paying required government taxes and fees at closing. During the 10 year draw period, your minimum payment will equal the greater of $100 or the periodic finance charges, and other fees, charges, and costs. During the 20-year Repayment Period, if any, your minimum payment for each Billing Cycle will equal the greater of $100 or the amount sufficient to repay the Account Balance in full by the Maturity Date in substantially equal payments plus the Finance Charges that accrued for that Billing Cycle and other fees, charges, and costs. Subject to credit approval and underwriting terms and conditions. Rates and programs subject to change without notice and the APR will not exceed 21%. Offer not valid in TX. 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. You must have verifiable income. Offer may be withdrawn without notice. Rates apply to new HELOC accounts and may not apply to existing HELOC accounts. Please consult your tax advisor regarding the deductibility of interest.

2Please consult your tax advisor for guidance.


Fair Lending Statement