Bank of America Sign in Show/Hide Menu related links Home Equity Making some home improvements? We can help. Apply now for a home equity line of credit Get started for a home equity line of credit Talk to a lending specialist click to go to Mortgage details page click to go to Refinance details page Home Equity A home equity line of credit (HELOC) lets you borrow against available equity with your home as collateral. Today's low home equity rates † Click to go to home equity assumptions page Information for: Select State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Go and get state information You could enjoy a low variable introductory rate on a home equity line of credit Now: 1.990% Special Introductory variable APR Variable APR Disclosures † for 6 months Later: 4.400% Variable APR Variable APR Disclosures † after the introductory period (based on rates as of 11/24/2021 and can change) † Home equity assumptions (discount information plus disclosures and additional assumptions) based on a $100,000 line of credit Important rate and payment information expanded The Variable Intro Rate is calculated by subtracting 1.26% from the then-current Prime Rate; this currently results in the APR stated above, but can change periodically based on Prime. No customer or other discounts are available during the Variable-Rate Introductory Period. See "Home equity assumptions" link for important additional information. Rates are for illustrative purposes only, are subject to change without notice, and assume a borrower with excellent credit. Take advantage of these interest rate discounts 0.25% For automatic monthly payments Set up and maintain automatic monthly payments from your Bank of America checking or savings account and receive a 0.25% interest rate discount (does not apply to Bill Pay service) Footnote 1. Up to 0.75% For initial withdrawals Make an initial withdrawal when you open your account and receive a 0.05% interest rate discount for each $10,000 withdrawn (up to a maximum discount of 0.75%). See disclosure for California properties Footnote 1 Up to 0.375% For Bank of America Preferred Rewards members Preferred Rewards members get an interest rate discount Footnote 2 of 0.125% for Gold tier, 0.25% for Platinum tier and 0.375% for Platinum Honors tier. Learn more about Preferred Rewards Home equity calculator Estimate your payment and rate Estimate your home’s value See how much your home is worth Low competitive home equity rates — plus: No application fees, no closing costs and no annual fee Footnote 3 There's no fee to apply, no closing costs (on lines of credit up to $1,000,000) and no annual fee. There's also no fee to convert your variable-rate balance to a Fixed-Rate Loan Option. Footnote 4 Online application Submitting your application takes about 15 minutes. When you're done, we'll show you how to check your application status and securely upload documents. Convenient access to funds You have the flexibility to decide when and how much to use (up to your available credit limit) through Online Banking, by phone, at our financial centers or with no-access-fee checks. Mobile & Online Banking Manage your account, make payments and transfer funds using our top-rated Mobile Banking app Footnote 5 and Online Banking. Your home equity line of credit made easy Start online Submit your secure application online - there's no fee and no obligation, and it only takes about 15 minutes. Start your application now or Complete a saved application Work with a specialist Our experienced specialists will help you every step of the way – and if you decide that predictable monthly payments for a fixed term is best for you, they’ll help you with a Fixed-Rate Loan Option. Footnote 4 Complete the process Save time and securely upload documents online. If approved, you can enjoy the convenience of closing at a financial center of your choice. After that, you can easily access your new home equity line of credit as you need it. Manage your account and make payments using our top-rated Mobile Banking app Footnote 5 and Online Banking. What can a HELOC help you do? Learn about how a home equity line of credit works and how it may help you realize your goals – from covering unexpected expenses to paying for educational costs and funding home renovations. Footnote 6 0:00 / 0:00 View Transcript *This video is provided for educational purposes only and is not a commitment to lend. Please contact us so we can discuss your specific situation. Top home equity FAQs How can I access the money in my Bank of America HELOC? How do I make a payment to my HELOC? Can I fix the interest rate on all or part of my HELOC? See all home equity FAQs > Home equity basics The more equity you have, the more options will be available to you. Evaluating the equity in your home Learn about a HELOC, how a variable rate is calculated and how to get a Fixed-Rate Loan Option. What is a home equity line of credit (HELOC)? Consider a cash-out refinance loan to get the financing you need. Cash-out refinance or HELOC? Learn more about home equity > Connect with a lending specialist 866.290.4674 Monday to Friday 8 a.m. to 10 p.m. Eastern Time Mon-Fri 8 a.m.–10 p.m. ET Saturday 8 a.m. to 6:30 p.m. Eastern Time Sat 8 a.m.-6:30 p.m. ET Schedule an appointment Important Disclosures and Information The following discounts are available on a new home equity line of credit (HELOC): (1) an “auto pay” discount of 0.25% for setting up automatic payment (at or prior to HELOC account opening) and maintaining such automatic payments from an eligible Bank of America deposit account; (2) an "initial draw" discount of 0.05% for every $10,000 initially withdrawn at account opening (up to 0.75% for initial draws of $150,000 or more); California properties: receive a discount of 0.10% for every $10,000 initially withdrawn at account opening (up to 1.50% for initial draws of $150,000 or more). This initial draw minimum balance must be maintained for at least the first 3 billing cycles (less any required principal payments); and (3) a 0.25% discount for HELOCs in first lien position at account opening. Home Equity Line of Credit (HELOC) interest rate discounts are offered to clients who are enrolled or are eligible to enroll in Preferred Rewards, based on their asset tier at the submittal of home equity application (for co-borrowers, at least one applicant must be enrolled or eligible to enroll). Amount of discount (0.125% for Gold tier, 0.250% for Platinum tier, 0.375% for Platinum Honors tier, 0.625% for Diamond tier and 0.750% Diamond Honors tier) is based on the asset tier at the submittal of home equity application and is not subject to adjustment after the application is submitted. Eligibility will be determined three or more business days after the requirements are satisfied. For details on requirements, visit the Preferred Rewards section of the Personal Schedule of Fees. Benefit is non-transferable. Preferred Rewards home equity benefit can be combined with certain other home equity interest rate discounts. Home equity assumptions (discount information plus disclosures and additional assumptions) based on a $100,000 line of credit Fixed-Rate Loan Option at account opening: You may convert a withdrawal from your home equity line of credit (HELOC) account into a Fixed-Rate Loan Option, resulting in fixed monthly payments at a fixed interest rate. The minimum HELOC amount that can be converted at account opening into a Fixed-Rate Loan Option is $5,000 and the maximum amount that can be converted is limited to 90% of the maximum line amount. The minimum loan term is 1 year, and the maximum term will not exceed the account maturity date. Fixed-Rate Loan Option during loan term: You may convert all or a portion of your outstanding HELOC variable-rate balance to a Fixed-Rate Loan Option, resulting in fixed monthly payments at a fixed interest rate. The minimum outstanding balance that can be converted into a Fixed-Rate Loan Option is $5,000 from an existing HELOC account. The minimum loan term is 1 year, and the maximum term will not exceed the account maturity date. No more than three Fixed-Rate Loan Options may be open at one time. Rates for the Fixed-Rate Loan Option are typically higher than variable rates on the HELOC. Mobile Banking requires enrollment through the Mobile Banking app, Mobile website or Online Banking. Enrollment through the Mobile Banking app is not available on all devices. View the Online Banking Service Agreement for more information. Data connection required. Wireless carrier fees may apply. The Mobile Banking app is available on iPad, iPhone, Android and Windows 10 (except Xbox) devices. Not all Mobile Banking app features are available on all devices. Home equity assumptions (discount information plus disclosures and additional assumptions) based on a $100,000 line of credit. Bank of America Home Loans Home Equity Home Equity Line Increase & Transfers Home Equity Overview Home Equity Rates Home Equity Fixed-Rate Loan Option Home Equity Calculators Home Equity Calculator Home Value Estimator Learn About Home Equity What is a Home Equity Line of Credit? Evaluating Your Home's Equity HELOC or Cash-out Refinance? Home Equity Loan vs. Line of Credit Home Equity FAQs Manage Your Loan Apply Now Continue a Saved Application Check Your Application Status/Submit Documents Online Home Equity Funds Transfers & Refinancing Get Help with Payment Difficulties Contact Us About Your Home Loan Manage Your Loan Online HomePrivacySecurityCareersShare Your FeedbackSitemapAdvertising Practices layer Connect with us Bank of America, N.A. Member FDIC. 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