Make a Home Equity Payment
Keep your budget on track, knowing your home equity payments are made on time, every time. Key has several convenient payment methods you can use to make your payments as quickly and easily as possible.
Home Equity Payments
Yes, you must still make your payment. If you want to, you can view and print copies of your monthly statement in KeyBank online banking.
You can pay your bill through online or mobile banking, by phone, by mail or at a nearby branch, without having your statement with you.
To confirm the monthly payment amount, call customer service at 1-800-KEY2YOU. If you would like to make your payment by mail, write your account number on your check and mail your payment to:
P.O. Box 94588
Cleveland, OH 44101-4588
No. Your monthly payment must be drafted from a checking or savings account.
Late charges and grace periods vary in accordance with your account agreement. If your payment is not received before the grace period ends, a late charge will be assessed at the end of business on the last day of your grace period.
Hardships can come in many forms. Unemployment, decrease of income, declining property value, divorce, injury or illness – these are all considered hardships. If you are experiencing a hardship that is making it difficult for you to pay your bills, there may be help.
If you are having difficulty making your payments, visit our Borrower Assistance page. We may have a program available to assist you.
You can easily change additional principal amount, use a different account or cancel your existing Auto-Pay in online and mobile banking. You will also receive an Auto-Pay confirmation email along with mailed letter on any updates performed on your account.
Auto-Pay lets you set up automatic and recurring payments from a deposit account, such as a checking account, to a home equity account. When you set up Auto-Pay, you can choose from two types of automatic payments:
- Regular Monthly Payment (Home Equity Loans) or Minimum Monthly Payment (Home Equity Lines)
- Above and Additional Principal
It’s easy to set up Auto-Pay or adjust your payment election anytime in online banking.
- Sign on to online banking
- From your account dashboard, choose the KeyBank home equity that you want to set up the Auto-Pay for
- Select "Manage Auto-Pay" and follow the prompts
For home equity loans and lines, only payment due date can be selected while setting up Auto-Pay. If payment due date falls within 3 business days, Auto-Pay will begin with your next payment due date.
Auto-Pay will start on the effective date shown on the review screen. Once you submit, it will also be communicated via email and mailed letter.
To be sure your payments are made on time, you should continue making them until you receive confirmation from KeyBank that your setup was successful.
Once the Auto-Pay is fully processed and not returned for insufficient funds, your home equity account will be credited as of the payment date.
If you select a payment date that falls on a weekend or holiday, the payment will be effective dated to the due date. If the account you send the payment from is held at KeyBank, we’ll withdraw the funds for your payment on the business day after that weekend or holiday.
If the account you send the payment from is held somewhere other than KeyBank, the withdrawal will generally occur after the payment date, but the exact timing depends on your financial institution’s processing schedule.
Auto-Pay will automatically pull the new total amount due without any updates needed.
Auto-Pay will not draft the final payment.
Electronic statements are available online for your convenience and the safety of your account information. There are no fees to receive your statements online. When you receive them electronically, you reduce the risk of identity theft, eliminate having to store them, and get immediate access to view, print or save statements/documents.
Sign on to your Online Banking and select the account. At the top of the screen, select "statements" option. Change the "Enroll in Paperless Statements" toggle to on (green) and read and agree to the "online statement and document delivery authorization" disclosure. Once enrolled, your statements will no longer be mailed to you in paper form. You may change your preferences at any time by following the above steps and clicking the toggle button again.
A paid-in-full letter is mailed 6 business days after the loan payoff is posted to the account. Additional documentation will be mailed in accordance with state guidelines.
Yes. It is important that you continue to submit your monthly payment as you normally would. If your payment is submitted using our ACH program, notify us at least 3-5 days in advance of the next scheduled draft so your ACH can be canceled. Should the payment be deducted from your bank account after your loan is paid in full, we will return it to you within two weeks.
Find a Branch or ATM