Key Equity Options® Home Equity Line of Credit (HELOC)
Keep your money at your fingertips with a Key Equity Options® home equity line of credit. Easily access funds and manage your budget with flexible payment options, so you can get closer to reaching your financial goals.
Overview
| Combined Loan to Value (CLTV) | Up to 80% CLTV1 |
|---|---|
| Loan Amount | $10,000 to $500,000 |
| Interest Rate | Variable |
| Disbursement |
Revolving credit line, borrow and repay as needed over the term |
| Manage in Online Banking |
Yes |
| Client Discount | .25% interest rate discount for qualifying KeyBank clients2 |
Features
- Get a 0.25% interest rate relationship discount on new KeyBank Home Equity Lines of Credit (HELOC) when you Bank with Key or when you sign up for automatic payments from a KeyBank checking account.2
- Revolving credit allows you to borrow against your home equity, repay and borrow again
- Borrow up to 80% of your home’s value, across the combined balances of all loans1
- Flexible payment options, including principal and interest or interest-only
- Interest paid may be tax-deductible3
- Access your funds with checks, in a branch or in online banking
Home Equity Line of Credit
Up to 80% Combined Loan-to-Value1
NOTICE: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All home lending products, including mortgage, home equity loans and home equity lines of credit, are subject to credit and collateral approval. Not all home lending products are available in all states. Hazard insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice.
To apply for a home equity line of credit, you must:
- Be 18 years of age or older
- Live within any one of the United States except the following: AL, AZ, CA, DC, NV, TX. For subject properties outside of AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT or WA call 1-888-KEY-0018 (1-888-539-0018) for product information or to submit an application
- Agree to provide additional personal and business information, if requested, such as tax returns and financial statements
- Certify that all information submitted in the application is true and correct
- Authorize the bank and or a credit bureau to investigate the information on the application
Please read our Disclosures. If you applied for your credit account online within the last 90 days, you may also review the original disclosures provided to you.
Loan-to-value ratios apply only to loans secured by owner-occupied real estate.
To receive relationship benefits on a new KeyBank home equity line of credit, which provides a 0.25% interest rate reduction, you must have owned a Relationship Account at any time during the home equity line of credit application process, but no later than seven (7) business days prior to the closing of the home equity line of credit. This Interest rate reduction is available on new KeyBank home equity line of credit applications only.
As an alternative to the relationship benefit, you may obtain a 0.25% interest rate reduction if you complete and submit, no later than seven (7) business days prior to the closing of the home equity line of credit, the Monthly Automatic Payment form to have your recurring payment for your KeyBank home equity line of credit automatically deducted from an "Eligible KeyBank Consumer Checking Account".
For home equity lines of credit ("HELOCs"), the 0.25% interest rate reduction will be applied to the margin, thereby reducing the applicable variable annual percentage rate (total annual percentage rate consisting of the applicable index value plus margin value).
"Relationship Account" means (A) an open Eligible KeyBank Consumer Checking Account with five (5) or more Qualifying Transactions posted to a single Eligible KeyBank Consumer Checking Account in a calendar month, which may not be aggregated across other accounts you own, OR (B) an open Key Private Bank Checking or Key Private Bank Personal Checking account.
An "Eligible KeyBank Consumer Checking Account" means: any KeyBank consumer checking account designated as a personal checking account by KeyBank, including KeyBank's Hassle-Free checking account, but excluding a health savings account.
"Qualifying Transactions" include, but are not limited to, point of sale transactions, bill payment(s), ATM transactions, check, cash or direct deposits, and electronic funds transfers. Qualifying Transactions exclude adjustments, advances, reversals, refunds, account to account transfers, person-to-person transfers, interest, service charges, and service fees. Qualifying Transactions must be completed at least three (3) business days prior to application to be eligible for inclusion in determining whether you met the "Relationship Account" portion of the "Bank with Key" criteria.
The 0.25% interest rate reduction may not be combined with certain other discounts or promotions and may not be available for all home lending products. Other terms, conditions, and/or limitations may apply. Contact KeyBank Home Lending for more details.
Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice.
Please consult your tax advisor.
NMLS# 399797. Equal Housing Lender.
