Key Opportunities Home Equity Loan
As a homeowner, you’ve invested in your community and made it stronger. When you want to borrow from the equity you’ve gained, we want to help. Our Key Opportunities Home Equity Loan provides excellent, fixed rates for homeowners living in designated communities.
Overview
| Combined Loan to Value (CLTV) | Up to 80% CLTV1 |
|---|---|
| Eligible Collateral | Primary home in designated communities. |
| Loan Amount | $25,000 to $100,000 |
| Interest Rate |
Fixed |
| Term | One to 30 years2 |
| Manage in Online Banking | Yes |
Features
Key Opportunities Home Equity Loan provides a permanent interest rate discount available for owner-occupied homes in qualifying communities, selected for their economic and demographic makeup.3
- No origination fee
- Fixed rate, one-time distribution loan
- Borrow up to 80% of your home’s appraised value across the combined balances of all loans3
- Interest paid may be tax-deductible4
Home Equity Loan
Up to 80% Combined Loan-to-Value1
See if you qualify
To see if your home is in a community that may qualify for Key Opportunities Home Equity Loan, contact a KeyBank Mortgage Loan Officer near you.
NOTICE: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All home lending products, including mortgage, home equity loans and home equity lines of credit, are subject to credit and collateral approval. Not all home lending products are available in all states. Hazard insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice. Mortgage and Home Equity Lending products offered by KeyBank are not FDIC insured or guaranteed.
Key Opportunities Home Equity Loan is a rate discount program provided as a permanent rate reduction that will be reflected in the Promissory Note interest rate. Interest rate discount is not combinable with any other offers.
To apply for a home equity loan, you must:
- Be 18 years of age or older
- Live within the following states: AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA
- Agree to provide additional personal and business information, if requested, such as tax returns and financial statements
- Certify that all information submitted in the application is true and correct
- Authorize the bank and or a credit bureau to investigate the information on the application
Please read our Disclosures. If you applied for your credit account online within the last 90 days, you may also review the original disclosures provided to you.
Loan-to-value ratios apply only to loans secured by owner-occupied real estate.
Subject to credit approval. Certain loan amounts may require borrower to pay title insurance premiums. Please review your loan documentation for details. Loans in certain designated states pay mortgage tax and mortgage taxes and documentary stamps. Typical loan payment examples are as follows: If you borrow $25,000 secured by an owner-occupied home, for 120 months at 5.49% APR, the monthly payment would be $271.19 or if you borrow $50,000 secured by an owner-occupied home, for 240 months at 6.36% APR, the monthly payment would be $368.68. Actual rates, APRs, fees, payment amounts and terms are based on loan-to-value (LTV), product, term, loan amount and credit qualifications. Rates are subject to change without notice and are determined from those offered as of the date of application.
Not available in all states. To qualify for the Key Opportunities Home Equity Loan rate discount program, the collateral address for the loan must be in an eligible census tract within an eligible community. Ask us for details.
Reimbursement of Lender Paid Costs: If you voluntarily prepay your loan in full and terminate your account within 36 months after you sign the note, you will reimburse Key for bona fide fees it paid to third parties on your behalf in connection with the opening of your account. These fees may include costs of appraisal, title, and flood certification fee and, where applicable, mortgage tax. These fees are shown as itemized estimates on your loan estimate provided to you within three (3) days of your application, as final itemized amounts on your closing disclosure sent to you at the time of final loan approval and as itemized amounts in your fixed-rate note. This provision will not apply to the exercise of any applicable right to cancel or rescind under the Federal Truth in Lending Act or Regulation Z, or if the term of the loan is 36 months or less.
Consult your tax advisor regarding the deductibility of interest.
NMLS# 399797
