KeyBank Home Equity Loan Benefits

  • Get a lower rate to pay off high-interest debt faster.
  • Roll multiple bills into one easy monthly payment.
  • Fixed rate and payment protect against rising interest rates.
  • Set monthly payments allow for easy budgeting.
  • Origination fees as low as $295.start.VariantId.eq.BB3end.VariantId.eq.BB start.VariantId.eq.AA4end.VariantId.eq.AA

Lock In Your Interest Rate Today

Take out a home equity loan to consolidate debt and save.

For clients using a TDD/TTY device: 1-800-539-8336.

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.

NMLS# 399797

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

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As of December 10, 2021.

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For home equity loans, the 0.25% interest rate discount is a permanent rate reduction that will be reflected in the Promissory Note interest rate.

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An Origination Fee of $295 is charged for Home Equity Loan transactions in which the collateral property is an owner-occupied primary residence or second home. For loans in which the collateral property is non-owner occupied, an Origination Fee of $295 plus 1% of the loan amount will be charged. For loans with a loan amount greater than $500,000, borrowers may be required to pay a title insurance premium. (Premiums may range from $12.50 to $2,859.) In addition, NY and FL loans may be required to pay mortgage tax and documentary stamps. For loans with a loan-to-value (LTV) ratio greater than 80%, borrowers may be required to pay all closing costs. (Costs may range from $100 to $3,070.)

Typical loan payment examples for loans with less than or equal to 80% LTV are as follows: If you borrow $25,000 secured by an owner-occupied home, for 120 months at 4.75% APR, the monthly payment would be $262.15, or if you borrow $50,000 secured by an owner-occupied home, for 180 months at 3.22% APR, the monthly payment would be $350.72. For loans with an LTV greater than 80%, typical loan payment examples are as follows: if you borrow $25,000 secured by an owner-occupied home, for 120 months at 5.56% APR, the monthly payment would be $272.02, or if you borrow $50,000 secured by an owner-occupied home, for 180 months at 5.23%, the monthly payment would be $401.41. Actual annual percentage rates and payment amounts may vary, and are determined by your collateral, term, loan amount and credit qualifications. An escrow account may be required for some or all required insurance coverages, and the amounts for any applicable insurance coverages are not included in the example payment amounts shown.

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.

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Investment products offered through Key Investment Services LLC (KIS), member FINRA/SIPC and SEC-registered investment advisor. KIS is affiliated with KeyBank National Association (KeyBank).

Investment products made available through KIS are:

NOT FDIC INSURED NOT BANK GUARANTEED MAY LOSE VALUE NOT A DEPOSIT NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY

KIS and KeyBank are separate entities, and when you buy or sell securities you are doing business with KIS and not KeyBank.

For clients using a TDD/TTY device: 1-800-539-8336.

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.

NMLS# 399797

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

2

For home equity loans, the 0.25% interest rate discount is a permanent rate reduction that will be reflected in the Promissory Note interest rate.

3

An Origination Fee of $295 is charged for Home Equity Loan transactions in which the collateral property is an owner-occupied primary residence or second home. For loans in which the collateral property is non-owner occupied, an Origination Fee of $295 plus 1% of the loan amount will be charged. For loans with a loan amount greater than $500,000, borrowers may be required to pay a title insurance premium. (Premiums may range from $12.50 to $2,859.) In addition, NY and FL loans may be required to pay mortgage tax and documentary stamps. For loans with a loan-to-value (LTV) ratio greater than 80%, borrowers may be required to pay all closing costs. (Costs may range from $100 to $3,070.)

Typical loan payment examples for loans with less than or equal to 80% LTV are as follows: If you borrow $25,000 secured by an owner-occupied home, for 120 months at 4.75% APR, the monthly payment would be $262.15, or if you borrow $50,000 secured by an owner-occupied home, for 180 months at 3.22% APR, the monthly payment would be $350.72. For loans with an LTV greater than 80%, typical loan payment examples are as follows: if you borrow $25,000 secured by an owner-occupied home, for 120 months at 5.56% APR, the monthly payment would be $272.02, or if you borrow $50,000 secured by an owner-occupied home, for 180 months at 5.23%, the monthly payment would be $401.41. Actual annual percentage rates and payment amounts may vary, and are determined by your collateral, term, loan amount and credit qualifications. An escrow account may be required for some or all required insurance coverages, and the amounts for any applicable insurance coverages are not included in the example payment amounts shown.

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.

*

Investment products offered through Key Investment Services LLC (KIS), member FINRA/SIPC and SEC-registered investment advisor. KIS is affiliated with KeyBank National Association (KeyBank).

Investment products made available through KIS are:

NOT FDIC INSURED NOT BANK GUARANTEED MAY LOSE VALUE NOT A DEPOSIT NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY

KIS and KeyBank are separate entities, and when you buy or sell securities you are doing business with KIS and not KeyBank.