Why wait? Unlock the possibilities today.
12 Month Introductory Rate
Current Standard Rate
Minimum of $10,000 and a required $10,000 draw at closing
Uncertain what the future holds? Gain the flexibility of locking in any portion of your HELOC to a fixed rate.1
Speak with a Home Equity Specialist
A branch representative will contact you and answer any questions you may have to unlock your possibilities.
Request a conversation
Call 1-877-678-6622 or visit one of our convenient locations
APR is the Annual Percentage Rate. The introductory rate is valid for 12 months on lines of $10,000 or more. After the introductory rate, the rate is variable and based on the published Wall Street Journal (WSJ) prime rate plus 0.25%. The APR cannot be less than 5.00% and no greater than 18.00%. This offer is not valid on existing Merchants Bank lines of credit or term loans. No refinances. There is no origination fee or closing costs to open the HELOC. If required, an appraisal fee of up to $500 may apply. Approved applicants are required to initiate a draw of $10,000 at closing. APR is effective as of September 20, 2019. Rates and terms are subject to change.
Line of credit is subject to credit approval and secured by the primary residence with the loan to value not to exceed 80%. A mortgage satisfaction fee is required at loan termination. This fee is established by the county where the mortgage is recorded. Property insurance is required.
1Locking in allows you to convert all or a portion of your HELOC (available and outstanding amounts) to a fixed rate term loan. Fixed-rate conversion is optional. If you choose to fix the rate, the rate will be determined at our sole discretion based on our current corresponding and published rates at the time you choose this option; exclusive of any promotional rate. The minimum lock in amount is $10,000. You may have up to three lock in fixed-rate conversions open at any one time. A $50 rate lock fee applies. The fee is waived if the rate is locked at closing.
From time to time, we provide links to other websites for the use of our visitors, which have been compiled from internal and
external sources. By clicking on the "Continue" button below, you will be leaving our website. Although we have reviewed
the websites prior to creating the link, we are not responsible for the content of the sites. Information on linked website
pages may become dated or change without notice, and we do not represent or warrant that information contained on these
linked pages is complete or accurate. We suggest that you always verify information obtained from linked websites before
you act upon such information.
This page is provided solely for your convenience. We are NOT responsible for
the accuracy and completeness of information, typographical errors, or errors of omission. We do not assume any liability
as a result of the use or misuse of the information. By your use of this information, you recognize and agree to hold us, our
employees, agents, successors, and/or assignees harmless from any liability as a result of using this information, materials,
products or services listed at this website.