Introductory rates as low as 5.99%* APR (6-months)

8.00%* APR (variable thereafter)

Home Equity Lines of Credit and Loans

The funds you need for your next big project could be hiding in plain sight.

A home equity line of credit or HELOC offers you a revolving credit line secured by the equity you’ve already built in your home. A HELOC works like a credit card, allowing you to access the funds you need, whenever you need them. You can use your money to help pay down high-interest debt, finance your child’s education, or fund home improvement projects that the whole family can enjoy.

With Fidelity’s LifeDesign Banking approach, we offer the clarity and confidence you need to make the best financial decisions for you and your family.

Take advantage of our lowest introductory HELOC rates right now!

5.99%* APR

6-month introductory rate

8.00%* APR

variable rate thereafter

In addition to Home Equity Lines of Credit, we also offer Home Equity Loans. For rates, please click here, our contact us for more information.

Have a Question?

Applying for a HELOC is fast and easy.

Step 1

Fill out an application online.

The application can be completed from a computer or mobile device.

Step 2

Provide any supporting documentation.

We may need you to provide materials such as W-2s, home appraisals, current mortgage statements, employment history verification, and/or a recent pay stub.

Step 3

Sign your closing paperwork.

If you’re approved for a HELOC, you’ll need to review and sign your closing paperwork. After this, your funds will be available within a few business days.

FAQs about Home Equity Lines of Credit (HELOCs)

A HELOC works similar to a credit card, offering you a line of credit when you need it. The difference is, a home equity line of credit allows you to borrow against your home’s value. The interest rate you receive on your HELOC will vary depending on your lender and credit report. 

The amount you can borrow with a home equity line of credit depends on the value of your home, how much you owe on your mortgage, and your lender’s HELOC requirements. Most lenders allow you to borrow up to 85% of your home equity with a HELOC. 

For example, let’s say you have a home valued at $450,000 and currently owe $250,000 on your mortgage. First, we’ll calculate 85% of your home’s value (0.85 x 450,000), which means the maximum amount you could borrow against your home would be $382,500. However, since you haven’t paid off your home in full, you’ll then need to subtract the amount owed ($250,000) from this amount and $132,500 is the total amount you can potentially borrow.

There are two phases to repaying HELOCS: a draw period and repayment period.

During your draw period, you can access your funds as often as you’d like. Minimum monthly payments are required for interest-only, but you can begin paying back the principal of the loan as soon as you’d like. The draw period for Fidelity Bank HELOCs is 10 years.

During the repayment period, you’ll no longer be able to access your funds and you’ll be required to start making monthly payments on the principal and interest. The length of a HELOC repayment period can vary, but it’s typically 20 years.

A home equity line of credit will approve you for a certain amount and allow you to withdraw those funds as needed. You’ll only be required to pay back the funds you withdrew (plus interest). You also won’t be required to begin repaying a HELOC until your draw period ends.

A home equity loan approves you for a certain amount and distributes your funds in one lump sum. You’ll be required to pay the entire amount back and repayment typically begins 30 days after your loan is distributed.

Since a HELOC uses your home as collateral, you can often secure a lower interest rate than you can with a personal loan. However, there are other factors worth considering before applying for a HELOC. 

The good news is Fidelity Bank’s LifeDesign approach is designed to provide you with the clarity and confidence to find the right solution for you and your family. If you’re not sure which loan option is right for you, reach out to Fidelity Bank’s Client Care Center online at or by phone at 800-581-5363.

If you don’t end up withdrawing your HELOC funds during the draw period or if you repay any funds removed (plus) interest, you won’t owe any money during the repayment period.

Home equity lines of credit can be used to accomplish many goals. Here are a few examples…

kid playing with the family dog at their HELOC improved home

The Kim family used their HELOC to improve their home.

closeup of man paying with a debit card online from Fidelity Bank

Alex used his HELOC to consolidate credit card debt and pay it off fast.

woman sowing

Instead of credit cards, Olivia grew her business with a low-rate HELOC.

man snapping his fingers

Jackson got prepared and used his HELOC to build an emergency fund.

*Annual Percentage Rates (APR) accurate as of 8/4/23. The introductory APR of 5.99% APR will be in effect for the first 6 months of your loan. After the introductory rate period, the subsequent Annual Percentage Rate (APR) will adjust monthly based on the highest Wall Street Journal published Prime Rate on the last business day of each month. Introductory APR only available to clients: without an existing Fidelity Bank home equity line or loan; with an existing or new CareChecking account; and with an automatic payment deduction from a Fidelity Bank Checking Account. Subsequent APR is prime minus .50%, prime minus .625 % with CareMore or SecureCare Checking, or prime minus .75% with CompleteCare Checking. Rate will never exceed 18% APR or drop below 4.00% APR. Available on 1-2 family owner-occupied homes and condominiums only. Loans available from $10,000 and up. You can borrow up to 100% of the equity you have in your home. Loans exceeding 75.01% Combined Loan to Value (CLTV) may have higher rates and require Private Mortgage Insurance (PMI). Property insurance required. There is an annual fee of $50.00. Interest begins to accrue when funds are advanced from line of credit. If the line is closed within 3 years, the Bank’s closing costs must be repaid. Interest may be tax-deductible. Please consult your tax advisor. All loans are subject to credit approval. Other restrictions may apply. Offers subject to change or termination at any time.

The Fidelity Bank LifeDesign HELOC examples are fictitious and not based on real people or stories. Any resemblance to actual events or locales or persons is entirely coincidental.