- Uses the equity in your home
- Lines of credit available up to $1,000,0001
- No annual fee
- Interest may be tax deductible - consult your tax advisor
- Access line of credit by Equity ExpressSM Visa® card or checks
- Fixed Rate Equity Loan Options available2
- Line of credit amount depends on home equity borrower's creditworthiness and occupancy.
- Promotion effective for requests submitted 12/1/16 through 5/31/17. The promotional rates apply to up to five Fixed Rate Equity Loan Options (FRELO) during the draw period of your HELOC; it is available to existing and to new owner-occupant EEX accounts with an advance on the line of at least the minimum loan amount and automatic payment from an American Savings Bank checking account. Based on a 7-year fixed rate loan of $50,000 at 3.50% APR, there will be 84 monthly principal and interest payments of $671.99. For 7-year terms, the minimum loan amount is $50,000 and the maximum loan amount is $250,000. Based on a 10-year fixed rate loan of $20,000 at 3.75% APR, there will be 120 monthly principal and interest payments of $200.15. For 10-year terms, the minimum loan amount is $20,000 and the maximum loan amount is $250,000. Investor rates are available. Current non-promotional rates as of 2/1/17 are 6.25% for a 7-year fixed rate loan and 7.00% for a 10-year fixed rate loan. Other FRELO terms and rates are available. FRELO may be added upon your request, provided that you and all named borrowers on the Equity Express account execute the Equity Express with Fixed Rate Equity Loan Options Addendum to the Equity Express Credit Agreement.