A home equity line of credit provides flexible funding options for when you need to start a new home improvement project, consolidate debt or pay for an unplanned expense.
A home equity line of credit — or HELOC — allows you to tap into your home's equity with a reusable line of credit you can access whenever you need the money, such as to pay off debt, make home improvements, and cover other expenses.Apply now for a home equity loan
Reusable line of credit
2.99% APR for 6 months then 9.50% – 11.00% variable APR1
Variable rates that follow the market
Receive an additional rate discount of 0.25% if $7,000 or more of a refinanced loan is used to pay off debt from another lender.2
No application fees, no bank fees at closing and no early payoff fees
Interest may be tax deductible — check with your tax advisor
|Amount Drawn||Monthly Interest-Only Payment @ 2.99% APR1,2||Monthly Interest-Only Payment @ 9.50% APR1||Monthly Interest-Only Payment @ 9.75% APR1||Balance due at the end of 10-year term if only interest is paid each month|
Start by submitting your application in 20 minutes or less.
Provide frequently required information and documentation.
Set up closing after submitting the application and documentation to receive your funding.
Cash out and make the most of your home's value with a single large loan.
Limited time offer. Subject to credit approval. Introductory Annual Percentage Rate (APR) of 2.99% available on new lines of credit only with combined loan-to-value (LTV) ratio (including prior mortgages or liens) of 90% or less. Initial rate is fixed for 6 months following account opening date, and is not based on index and margin used for later rate adjustments. Introductory rate offer not available for refinances of existing Commerce Bank Home Equity Lines of Credit. After the 6-month introductory period, the rate is a variable rate subject to change with the changes in the Prime Rate. Rate offer of 9.50% APR available only on new lines of credit with combined LTV ratio (including prior mortgages or liens) of 80% or less, and reflects the rate discount of 0.25% for automatic payments from a Commerce checking or savings account. An additional 0.25% rate discount can be applied after the intro rate period, when $7,000 or more of the loan is refinanced from another financial institution. Refinancing discount is limited to one discount per new loan and does not apply to Commerce credit card or loan account payoffs. The APR may range from Prime Rate plus 1.00% to Prime Rate plus 2.50% depending on LTV and customer relationship. The Prime Rate used is the U.S. Prime Rate quoted in the “Money Rates” column of The Wall Street Journal on the last business day of the month. As of August 27, 2022, the APR can range from 9.50% to 11.00%. The APR may change monthly, but will not be lower than 3.99% APR, nor exceed 17.65% or 20.04%, depending on LTV. Maximum combined LTV is 90% (including prior mortgages or liens). Interest only option available only on lines of credit with combined LTV ratio (including prior mortgages and liens) of 80% or less. At maturity, entire balance payment is required in a single “balloon payment.” Insurance must be carried on property securing this loan. Missouri, Kansas, Illinois, and Colorado residents incur no fees or closing costs. Oklahoma residents are required to pay state mortgage tax of no more than $.10 per $100 of mortgage filed; no other fees or closing costs apply. Rate discounts cannot be combined with any other offer. Mortgages and dealer loans are not eligible to receive these rate discounts. Refinancing discount is limited to one discount per new loan, and does not apply to Commerce credit card or loan account payoffs.
Monthly payment examples are based on the sample amounts drawn against a line with combined LTV ratio (including prior mortgages or liens) of 80% or less. Rates shown are with and without the 0.25% rate discount for automatic payments from a Commerce checking or savings account. Payments will vary based upon balance amount and interest charges.