Per Equity

Home Equity Loans & Lines

Whether you want to create your dream kitchen, or pay off debts, the equity you have built in your home can provide you with possible tax-saving financing solutions. Let a Hancock Banker help show you the way.

Home Equity Line¹

If flexibility is your priority, then a credit line is your best option. This powerful financial tool is ready when you are with fast and easy access to the cash you need at a rate you can afford.

Ongoing accessibility: Access available funds now and in the future to pay for home improvements, education expenses, and other recurring needs without reapplying.

Flexibility: Adapt to changing interest rates without refinancing, simply convert all or part of your balance into a fixed-rate for predictable monthly payments.

Potential tax benefits: Unlike personal loans or credit cards, the interest on your home equity line may be fully tax deductible. Consult your tax advisor for details.

  • Little to no closing costs for lines of $250,000 or less*
  • Borrow up to 90% loan-to-value
  • Convenient access in person or by check
  • Link to your Hancock personal checking account for overdraft protection

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Fixed Rate Home Equity Loan²

The perfect solution for a purchase you've been planning or to consolidate high-interest debt. Lock in a low rate and get a fixed, predictable payment.

  • Little to no closing costs for loans of $250,000 or less*
  • Borrow up to 90% loan-to-value
  • Fixed-rate terms and equal payments
  • Interest may be fully tax deductible. Consult your tax advisor.

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Easy Online Application
Easy Online Application.

Contact Us
Contact Us

Visit an office near you
Visit an office near you

Our bankers are registered Mortgage Loan Originators and ready to assist you with all your borrowing needs.
To acquire your Banker's unique identifier (MLO ID), please call 1-800-448-8812 or view Safe Act Registry.

 

Normal credit qualifications apply. Information is subject to change without notice.

*Home Equity Lines and Loans require a mortgage on an owner-occupied 1-4 family dwelling with a minimum lendable equity of $10,000. Property insurance is required. Rescission rights may temporarily restrict availability of funds. Subject to credit approval; other terms and conditions apply.

*The bank will pay most closing costs on loans of $250,000 or less and up to $500 in closing costs for lines over $250,000. Closing costs typically range between $261 and $2,150. Waived closing costs exclude: AL-Mortgage Recording Tax; FL-Documentation Stamp Tax and Intangible Tax. If you voluntarily cancel your Home Equity Line of Credit within 12 months of opening, you will reimburse to us the closing costs that we have paid. Reimbursement is limited to 2% of the unpaid principal balance.

¹ The Home Equity Line annual percentage rate (APR) is based on Wall Street Journal Prime Rate (the "Index") plus a margin ranging between 0% and 1.25%. The APR will vary but will not exceed 21% in AL/MS or 18% in FL and will never be less than the 3.99% floor rate. Based on the 2/11/14 Index value of 3.25% and a typical margin of 0.50%, the formula that will be used for subsequent monthly rate adjustments would result in a current APR of 3.75%. However, due to the floor rate, the APR will never be less than 3.99%. Repayment options vary based on creditworthiness. See a banker for details.

² The Home Equity Loan offers a fixed rate for up to 15 years. APRs vary and currently range from 5.24 to 8.49%. For example, a typical loan of $50,000 at a 5.49% APR for 15 years would result in a monthly payment of $417. Your APR may differ based on your term and creditworthiness. See a banker for details.