Fulton Bank offering HELOC with 2.59% Introductory Interest Rate for 12 Months

Fulton Bank logoThe opportunity to borrow from equity built up in a home over time is a powerful financial tool. Using a home equity loan or line of credit is often more affordable than securing a personal loan or utilizing a credit card, and the funds can be used for any major purchase life throws into the mix. While a home equity line of credit offers low-cost borrowing and flexibility, not all products are created equal. It is important for homeowners to understand the total cost of borrowing through a home equity line of credit, and consider various lenders to make sure the most affordable interest rate is offered.

Promotional Offer Details

Currently, Fulton Bank is offering a home equity line of credit to well-qualified borrowers with an introductory interest rate as low as 2.59% for the first 12 months after account opening. Once the introductory period ends, the interest rate reverts to the standard rate of 4.25% which is variable. Fulton Bank’ OptionLine product offers home equity line borrowers the ability to set an interest rate lock on some or all of the balance, providing a fixed rate and a fixed repayment term at any time. Applications for a new home equity line of credit must be received by July 31, 2017, to qualify for the lowest advertised interest rate.

Fulton Bank requires a minimum credit line of $5,000, and the property used to secure the equity line must have a loan-to-value ratio of 80% or less. For properties located in Pennsylvania, Delaware, and Virginia, borrowers do not pay closing costs so long as the home is a single-family residence. If the line of credit is closed within 36 months after account opening, however, Fulton Bank may recoup any closing costs paid on behalf of the borrower.

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All borrowers listed on an application for a new home equity line of credit are evaluated based on their credit history and score. A higher interest rate may be available for those with less than ideal credit.

About Fulton Bank

Fulton Bank is an Equal Housing Lender and an affiliate of Fulton Financial. Serving Pennsylvania, Delaware, and Virginia, Fulton Bank offers customers an array of financial products and services including mortgage lending, personal and auto loans, deposit accounts, and some business banking services. The bank operates 115 branch locations and 136 fee-free ATMs within the region it serves.

Contact Information

Homeowners interested in the home equity line of credit offered through Fulton Bank may gather more information or apply by speaking with a lending specialist at any full-service branch location, by calling a customer service specialist at 1-800-385-8664, or by visiting the bank online.

Posted on July 17, 2017 by in Home Equity Line of Credit, Mortgages,

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