Personal » Lending Solutions » Personal Loans » Home Equity Home Equity It's easier than you think! Put your home to work for you with a Home Equity Term Loan or Home Equity Line of Credit from Gulf Coast Bank. Call one of our local lenders today for more information. Home Equity Term Loans Gulf Coast Bank's Home Equity Term Loan provides customers with more cash on hand rather than using credit cards or other personal loans that may have a higher interest rate. Customers typically use a home equity term loan for long-term, single costs such as debt consolidation, home renovations, or even an unexpected medical bill. A few of the features include: Fixed rate term loan secured by either primary or secondary residence Flexible terms to fit into your budget Quick Closings Possible tax deduction – consult your tax advisor Home Equity Line Of Credit Gulf Coast Bank's Home Equity Line of Credit provides customers with an increased cash flow or spending limit, much like a credit card but usually with a lower interest rate. Customers typically use a home equity line of credit for short term, recurring costs such as college tuition, auto and credit card payments, or even home improvements. A few of the features include: Variable rates as low as 3.25% APR* Borrow up to 90% of your home’s value** Closing cost assistance*** on lines 250,000 or less Quick Closings Possible tax deduction – consult your tax advisor *The Home Equity Line of Credit is a variable rate plan based on the Wall Street Journal prime (the “Index”) plus a margin ranging between 0% and 2.25%. The APR of 3.25% is based on the index value as of 5/01/2015 and is only available for borrowers with a credit score of 750 or higher. The annual percentage rate (APR) is based on your credit worthiness and other credit criteria. The annual percentage rate will vary but will not exceed the maximum possible APR of 18%. **Up to maximum 90% loan to value available for line of credit of $250,000 or less secured by the primary residence (1–4 family owner occupied). The minimum line available is $25,000. Up to maximum 80% loan to value available for line of credit greater than $250,000, secured by the primary residence (1–4 family owner occupied) with a maximum line amount of $1,500,000 on first mortgages or $750,000 on second mortgages. Up to maximum 75% loan to value available for secondary residence (must be single family residence, occupied minimum of 14 days annually by borrower) with a minimum line amount of $25,000 and maximum line amount of $1,500,000 on first mortgages and $750,000 on second mortgages. ***Gulf Coast Bank will pay Closing Cost in excess of $299.00 for home equity lines of credit of $250,000 or less. Closing costs will include attorney fees, title services cost, recordation fees (excluding New Orleans Documentary tax), tax service fee, credit bureau fee and flood certification fee. Unless otherwise stated all other costs including Property Evaluations will be the responsibility of the borrower. If you close your line within 36 months from the opening date, any third party closing costs paid by Gulf Coast Bank will be charged back to your line. Normal closing costs apply, which typically range from $0 to $9,500 depending on the circumstances of your line of credit for home equity lines of credit greater than $250,000. No origination fee or annual fee. Lines of credit are subject to satisfactory appraisal, title search and proof of ownership. Property insurance required. Valid only for owner-occupied single family residence or 1–4 family (co-ops and mobile homes are excluded). The Gulf Coast Bank Home Equity Line of Credit allows you to advance on the line (minimum of $100.00) and will have a 5 year draw period. After the draw period has expired, the outstanding balance will be amortized over a 15 year period and will be payable in 180 monthly installments. Please see a Gulf Coast Bank banker today for additional details. Normal credit qualifications and other terms and conditions apply. Program terms and conditions are subject to change without notice.