Home Equity Loan
Borrow against your home equity for debt consolidation, home improvements or other major expenses.
Our home equity loans have a fixed interest rate for the life of the loan, so you’ll have predictable monthly payments for easier budgeting.
Apply now for a Commerce Home Equity Loan Need more answers?
Home Equity Loan Fixed Rates
What is a home equity loan?
A home equity loan is tied to the equity you've built into your home through mortgage payments.
Apply nowHome Equity Loan terms
Take advantage of flexible terms – long, short or somewhere in the middle. Let’s find a financing plan that works for your unique needs.
Home Equity Loan Features
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Enjoy a rate discount of 0.25% just for having your payment automatically deducted from your Commerce Bank checking or savings account.1
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Receive an additional rate discount of 0.25% when $7,000 or more of the loan is used to pay off debt from another lender.1
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Borrow up to 90% of your home’s available equity, with a minimum loan amount of $10,000.
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No application fees, no bank fees at closing and no early payoff fees.
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Interest may be tax deductible — check with your tax advisor.
Get a home equity loan in 3 easy steps.
Application
Start by submitting your application in 20 minutes or less.
Documentation
Work with your home equity specialist to provide frequently required information and documentation.
Closing
Set up closing after submitting the application and documentation to receive your funding.
Home Equity Line of Credit
Tap into the equity in your home when you need to with a reusable line of credit.
Home Equity Loan FAQs
How large of a home equity loan can I get?
How long are home equity loans?
What is the difference between a home equity loan and mortgage refinance?
Mortgage Refinance: A mortgage refinance loan pays off the remaining balance of your existing home loan and replaces it with a new mortgage loan. This is different from a home equity loan because it replaces your existing mortgage with another mortgage instead of being an additional lien on your home. You may refinance your home to borrow additional money for expenses or to receive a lower interest rate. Unlike a home equity loan, there are generally bank fees associated with refinancing.
For more information consult our home equity specialists.
How long does it take to get a home equity loan?
Disclosures:
1 Rate discount of 0.25% discount requires automatic loan payment from a Commerce Bank checking or saving account. Mortgages and dealer loans are not eligible to receive the discounts. Additional 0.25% rate discount when $7,000 or more of the loan is refinanced from another lender. Additional refinancing option is limited to one discount per loan and is not applicable to Commerce credit card or loan account payoffs. Subject to credit approval.
* Rates are subject to change. These rates are available only for home equity loans. Your APR will be determined based on creditworthiness, customer relationship, loan-to-value ratio and loan term. Must be 18 years or older to apply.
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