HOME EQUITY LINE OF CREDIT (HELOC)
Take advantage of our limited time offer for all new Home Equity Line of Credit (HELOC) account.
for the first 12 months1.
Variable rates can be this low after 12 months2.
a great introductory rate plus
- No closing cost for lines between $20,000 and $150,000 3
- No annual fee of $50 by having or opening a personal checking account with American Trust Bank
why get a home equity line of credit (heloc)?
Let the equity of your home work for you. With a HELOC, you can borrow the money you need to make home improvements or purchase any other items. Plus you may be eligible to receive tax-deductible incentives4.
home equity line of credit (heloc) benefits
Here are just a few benefits of having a HELOC
- Money can be used on anything you need
- Funds are available all at once or in increments
- Interest may be tax-deductible
- Funds can be accessed at any American Trust Bank locations in Knoxville, LaFollette or Lenoir City; through Online Banking or with Equichecks
- American Trust Bank pays all closing cost on lines between $20,000 and $150,000 3
- Annual fee can be waived by having or opening a personal checking account with American Trust Bank
Use our convenient calculators to determine your payments, how much to borrow and more.
interested in a new home equity line of credit?
1. All lines of credit are subject to credit and collateral approval.
2. After the twelve month introductory period, the variable Annual Percentage Rate (APR) may be as low as Prime plus a margin of .70% to Prime plus a margin of 4.50% (3.95% APR to 7.75% APR). Your APR can vary monthly based on the Prime Rate as published in The Wall Street Journal (the “index”). As of March 1, 2013, the Prime Rate is 3.25%. Your APR can never exceed 18%. The APR after the introductory period will be based on several factors which include credit history, collateral approval, loan to value (LTV), property type and lien status at the time of account opening. This is an interest only line with a Draw Period of 10 years. All lines may be subject to a $50 annual fee.
3. Closing costs are estimated to range between $150 and $2,000. If you terminate your line within 36 months from account opening for reasons other than refinance with American Trust, the closing cost paid by American Trust will be charged back to your line.
4. Consult a tax advisor regarding interest deductibility.
Rates, program terms and conditions are subject to change without notice. Other restrictions and limitations apply.
Other Requirements: To obtain a line you must provide an enforceable security interest in your primary residence. Property insurance is required and flood insurance where necessary.