Financial terms: view below
the definition for terms used on this search results page.
Product: A home equity line of credit (HELOC) is an open-ended loan paid as revolving debt that is backed by the portion of the home’s value that the borrower owns outright. Interest paid is usually deductible.
Lender: The organization lending the money. This survey group includes banks, thrifts and other representative institutions.
FICO range: The minimum to maximum FICO rate that the applicant can have to qualify for the quoted rates, points and fee combination.
Intro rate: The initial interest rate that is charged for a specified period of time.
Rate after Intro: Some lenders who limit the time of the initial interest rate have a new interest rate that is charged after the introductory rate expires.
Max loan to value: The maximum percentage of the home’s value that an institution will lend.
Required draw: The amount of money that the borrower must take then the loan is closed.
Fees and conditions: Any discounts or rate reductions for having payments automatically debited from another account.
Advertiser comments: Additional information given by the listed institutions.
Location: The state and city in which you are seeking a home equity line of credit. ZIP codes may also be used.
FICO score: The most commonly used credit score. The name comes from the Fair Isaac Corporation, which developed the credit report-based model that is used to predict the likelihood that a person will pay his or her debts.
Avg. intro rate: The average of all the introductory rates listed in the intro rate column.
Avg. rate after intro: The average of all the rates after introduction listed in the rate after intro column.
Show selected only: This reduces the number of listings in the rate table and compares the products you selected by clicking the check box.