compare home equity loans
and home equity lines of credit.

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 loan, you must:

• Be 18 years of age or older
• Live within the following states: AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA
• 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

Reimbursement of Lender Paid Costs: If you voluntarily prepay your loan in full and terminate your account within 36 months after you sign the note, you will reimburse Key for bona fide fees it paid to third parties on your behalf in connection with the opening of your account. These fees may include costs of appraisal, title, and flood certification fee and, where applicable, mortgage tax. These fees are shown as itemized estimates on your loan estimate provided to you within three (3) days of your application, as final itemized amounts on your closing disclosure sent to you at the time of final loan approval and as itemized amounts in your fixed rate note. This provision will not apply to the exercise of any applicable right to cancel or rescind under the Federal Truth in Lending Act or Regulation Z, or if the term of the loan is 36 months or less.

Savings vary based on rate and term of your existing and refinanced loan(s). Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Review your loan documentation for total cost of your refinanced loan.

Home Lending: To receive relationship benefits on a new KeyBank mortgage loan, home equity loan, or 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 mortgage loan, home equity loan, or home equity line of credit application process, but no later than seven (7) business days prior to the closing of the mortgage loan, home equity loan, or home equity line of credit. This Interest rate reduction is available on new KeyBank mortgage loan, home equity loan, and 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 mortgage loan, home equity loan, or home equity line of credit, the Monthly Automatic Payment form to have your recurring payment for your KeyBank mortgage loan, home equity loan, or home equity line of credit automatically deducted from an “Eligible KeyBank Consumer Checking Account”.

For fixed-rate mortgages and home equity loans, the 0.25% interest rate reduction will be reflected in the interest rate on the Promissory Note. For adjustable-rate mortgages (“ARMs”), the 0.25% interest rate reduction will apply to the initial fixed interest rate period and will be reflected in the maximum amount the interest rate can increase of the term of the loan, subject to the minimum interest rate that may be charged per the terms of the Promissory Note or Agreement. 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.

Loan features reduced interest rate and no origination fees. Available on existing primary residence and loans up to $100,000. First or second lien only. Loan must close in a branch. Property must be located in an eligible community in KeyBank's retail footprint. Additional terms or restrictions may apply. Ask us for details.

KeyBank bankers are listed on the Nationwide Mortgage Licensing System and Registry as part of the Secure and Fair Enforcement for Mortgage Licensing Act.

Key.com is a federally registered service mark of KeyCorp.

NMLS# 399797. Equal Housing Lender.