Home Equity Rates

Home equity loan rates are an aspect of home ownership that generate most questions from borrowers! As a homeowner looking for extra cash to improve your home, pay for your children's college tuition, or any number of other purposes, you will likely be eager to get the best rate – and with good reason!

Because home equity loans are secured loans, they generally feature rates that are significantly lower than those of non-secured personal loans and lines of credit. Another factor in determining rate is the borrower's financial situation. At Countrywide Bank’s Full Spectrum Lending Division, with our years of experience in home loans and home equity lending, we can cater to a wide range of lending needs, ranging from the homeowner with flawless credit to first time mortgage applicants to loan options for borrowers with less than perfect credit.

Although home equity rates are determined based on each potential borrower's unique situation, we are committed to helping you find the best home equity loan to suit your requirements – at a home equity loan rate that is perfect for your credit profile!

How Do We Determine Home Equity Line of Credit Rates?

To maximize affordability and minimize up-front costs, some of our loan options offer an initial reduced loan rate for a predetermined starting period. Once this period is finished, the home equity line of credit typically moves to a variable rate that is linked to the prime rate, plus a margin. What is a prime rate? You can see the rate in various financial publications such as The Wall Street Journal.

This margin is determined by the borrower's situation-- income, credit history and many other factors. If the prime rate drops, the interest rate will drop too. Such a drop may translate into a lower monthly payment on the loan. If the prime rate is increased, the interest rate will reflect this change too. It is important to note that the historical performance of the prime rate or any other loan index is not a guarantee of future performance. It is also just one of the many factors to consider when deciding what type of loan to get.

Want Stability? Consider Fixed Home Equity Loan Rates!

Our home equity loans are available with fixed interest rate options for 10 years or 15 years, as well as a 30 year loan that's due in 15 (balloon loan). Alternatively, interest only options are also available.

Talk to one of our Home Loan Consultants at 1-800-909-8217 to get a free customized rate quote! There's no obligation, and it'll only take a few minutes, so why not call right now?