Home Equity Line of Credit

(888) 454-0192

Home Equity Solutions

Home equity lines of credit and home equity loans

(888) 454-0192

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Home Equity Line of Credit

3.49% APR¹

Promo rate for six billing cycles, guaranteed

As low as 4.99% APR¹

Current variable rate thereafter

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(888) 454-0192.

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Home equity lines of credit allow you to borrow as needed for occasional expenses, such as tuition payments or emergency money in a pinch. And with multiple draw options—with a check, online, over the phone, or at a branch—they offer convenience as well as peace of mind.

Home equity loans offer a one-time lump sum that is repaid by a fixed monthly payment. They’re a great way to borrow for reducing debt or making improvements on your home.

Make Home Improvements

Renovating and repairing your home is about more than comfort and functionality—it adds value to your investment.

Consolidate Debt

Help pay down high-interest debt (like credit cards) at a more reasonable rate.

Make Tuition Payments

Easily manage your tuition payments as you're investing in your future.

Make Purchases

Finance significant purchases at a rate that's lower than your credit card.

¹Flagstar home equity line of credit (HELOC) is a variable rate, revolving line of credit secured by residential property only: 1-4 unit owner-occupied, modular homes, and owner-occupied secondary homes. Annual percentage rate (APR) is based on the WSJ (Wall Street Journal) prime rate (index) as of October 31, 2019, plus a margin for line amounts of $10,000 - $1,000,000, and with a combined loan-to-value (CLTV) of 80% or lower. Effective November 1, 2019, a 3.49% APR Promotional rate is available for 6 billing cycles after which the current variable APR will range from 4.99% APR - 21.00% APR, and will not exceed 21.00% APR. APR following the 6 month Promo APR reflects a 1.00% interest rate discount available for HELOCs with 1) an initial draw of at least $25,000 at closing, and 2) monthly automatic payment (ACH) established and elected at the time of application to be paid from a borrower’s Flagstar Bank Deposit Account. Promotional rate is not available for purchase transactions or for refinance transactions during the 36-month recapture period. Discounts are not available during the promotional period but will apply at the maturity of the Promotional Rate. Actual APR will be based on the variable rate index value in effect at the time of account opening, plus a margin determined by borrower credit qualifications, amount of the line of credit, lien position, combined loan-to-value (CLTV), type of property and other factors. APR remains variable for the life of the loan. Annual fee is $75 per year; waived the first 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. Loan amounts greater than $500,000 require borrower-paid Lender's Title Insurance. Borrower is responsible for paying required government taxes and fees at closing. During the 10 year draw period, (a) for the Interest-Only payment terms, your minimum payment for each billing cycle will equal the greater of $100 or the Finance Charges that have accrued for that Billing Cycle or for (b) the Principal and Interest payment terms, 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. 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. Borrower is responsible for separate payments of property taxes and insurance. 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. Offer not valid in TX. 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: Fees and charges may vary by product and state. Please consult your tax advisor regarding the deductibility of interest. Consolidating or refinancing debt may increase time and/or the finance charges/total loan amount required to repay the debt. Important information will be provided to you in the disclosures you receive after we have received your application and the loan documents you are provided at loan closing.