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Compare Home Equity Loans and Lines of Credit #home #improvement #loans

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Compare Home Equity Loans and Lines of Credit

Which Home Equity Solution is right for you? With potential tax advantages 1 and lower rates than most types of credit, a home equity loan or home equity line of credit could be a smart financial resource.

To apply for one of our home equity loans, you must be:

  • 18 years of age or older
  • For Home Equity Loan: live within the following states: AK, CO, ID, IN, ME, MI, NY, OH, OR, UT, VT, or WA
  • For Home Equity Line of Credit: live within any one of the United States except the following: AL, AZ, CA, DC, NV, TX. For subject properties outside of AK, CO, ID, IN, ME, MI, NY, OH, OR, UT, VT or WA call 1-800-KEY2YOU (1-800-539-2968) for product information or to submit an application
  • 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

Please read our Disclosures. If you applied for your credit account online within the last 90 days, you may also review the original disclosures provided to you.

1 Consult your tax advisor regarding the deductibility of interest.

2 Up to three fixed rate options available. A fee of $50.00 applies for each fixed rate option advanced. Rates for the home equity line of credit are based on The Wall Street Journal Prime (Prime) and are as low as Prime plus 0.00% (3.25% APR

as of 12/08/2013.  Your actual rate will be determined by product and credit qualifications. An annual fee of up to $99.00 may apply. Rates may vary between a minimum of 3.99% APR and a maximum of 18.00% APR. Property and hazard insurance are required on collateral property. Certain collateral restrictions apply. All origination fees will be waived on line amounts up to $250,000.00 ($250,000.00 in NY). For lines above $250,000.00, title insurance may be required (cost ranges from $12.50 to $2,859.00). NY lines of credit over $250,000 pay mortgage tax ranging from $0.50 to $2.80 per $100 total line amount. All FL lines of credit pay documentary stamp tax of $0.35 per $100 total line amount.  Rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice.

3 Interest-only payment option is not available in CT.

4 Subject to credit approval. If you borrow $25,000 secured by an owner occupied home, for 360 months at 8.03% APR, the monthly payment would be $183.27. Rate published may not reflect Key package pricing or relationship discounts. The APR includes a $125.00 origination fee and assumes use of the bank’s optional automatic payment deduction plan with a KeyBank checking account. Normal checking account service charges apply. Please refer to specific checking account disclosures for details. Add 0.25% to stated rates when an automatic payment deduction plan is not established. Actual rates, APRs, fees, payment amounts and terms are based on loan to value (LTV), product, term, loan amount and credit qualifications. Rates are subject to change without notice and are determined from those offered as of the date of application.

Subject to credit approval.

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