Home Equity Line of Credit (HELOC)

You have big plans for your future. Commonwealth Bank & Trust is here to help them come to life.

With a Home Equity Line of Credit (HELOC), the equity in your home can be used to borrow money, so you can get the funds you need for the plans you’re making now. For qualified applicants, a HELOC from Commonwealth Bank comes with a quick turnaround – courtesy of local decision-makers – and you have easy access to your funds with a debit card, if you so choose.With a competitive introductory rate of 2.49% APR* for the first 12 months and rates as low as 3.25% APR* after 12 months, your ideas can come to life.

HELOC dollars can be used for so many different things. What life event or project do you need funding for?


Contact your banker to take advantage of our Summer HELOC Promotion!


*Subject to credit approval. Offer available for a limited time on our 10 year home equity line and may be canceled without notice. The promotional Annual Percentage Rate (APR) will be fixed at 2.49% and will not increase until the thirteenth month after the date of the loan closing. After the introductory period, the loan will become a variable rate loan. The subsequent APR may vary from prime rate to Prime plus 3.00% (margin is dependent on the amount of the line and credit score). The Prime rate is based on the Wall Street Journal and published in the Money Rates table. On April 21, 2021 that rate was 3.25% Floor of 3.25% Maximum rate of 24.00%. For this example, based on $1,000 at a rate of 3.25% the payment will be $2.76 for every $1,000 borrowed. $50 minimum monthly interest payment required. Balloon payment required of any balance remaining at end of term. Property insurance is required. Minimum line amount of $5,000. $199 line origination and renewal fee; $50 annual fee; prepayment penalty of $300 or 2% of the loan amount (whichever is less) if paid off within first 3 years (excludes renewals). New home equity lines of credit secured by primary residence only. Applicants must successfully meet our Home Equity Line credit standards. Alternative rates and terms are available.