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BBVA Compass

Home Equity Line of Credit (HELOC)

Tap into your home equity when you need it.

  • Benefits
  • Features
  • Rates & Fees

Whether you are making home improvements, paying for major expenses or consolidating debt, the Compass Equity Optimizer® Home Equity Line of Credit puts you in control of life's unexpected challenges with access to funds now or in the future. Some of the benefits include:

  • Potentially tax-deductible interest (Consult a tax adviser for more information about the deductibility of interest)
  • Multiple advances as needed during the draw period
  • Special closing costs options available*
  • Flexibility of locking in up to three portions of your line balance at a fixed low rate
  • Low monthly interest-only payments during the draw period

*Closing costs: You can choose between bank-paid or borrower-paid closing costs on new home equity products with amounts ranging from $10,000 to $250,000. Credit requests for less than $10,000 or more than $250,000 shall be subject to actual closing costs incurred and permitted by law. Closing cost offer not available with refinance of a first mortgage. Rates advertised are based on the borrower paying all applicable closing costs. A higher rate will apply to your loan/line of credit if you choose to have the bank pay your closing costs. Bank-paid closing costs are subject to recoupment from borrower(s) if loan is paid off within 2 years (not applicable in Texas).

Enjoy all the advantages of a revolving home equity line of credit with our Equity Optimizerᆴ Line of Credit.

Uses

You can choose how much to advance when you need it.*
Use it for any purpose: debt consolidation, home improvements, major purchases (appliances, cars, RVs, boats, etc.) or other major expenses, refinancing of existing mortgage and any other miscellaneous purposes like vacations, medical expenses, etc.

Ways to Access

VISA Platinum Credit Card*, Convenience Checks, Advances at the Branch or by phone

Minimum Line Amount

$10,000

Term

Draw Period: Up to 20 years
Repayment Period:
Up to 15 yrs if the balance owed is > $20,000
Up to 10 yrs if the balance owed is < $20,000

Closing Costs

Special closing costs options available**

Tax Deduction

Potentially tax-deductible interest for year-end taxes (consult with a tax adviser regarding the deductibility of interest)

Fixed Rate Option

Flexibility of being able to lock in up to three portions of your line balance at a fixed low rate

Want to learn more? Get our Rate & Fees

* Texas Residents Only: State law prohibits credit card access to your line of credit and requires a $4,000 minimum per advance.

** Closing costs: You can choose between bank-paid or borrower-paid closing costs on new home equity products with amounts ranging from $10,000 to $250,000. Credit requests for less than $10,000 or more than $250,000 shall be subject to actual closing costs incurred and permitted by law. Closing cost offer not available with refinance of a first mortgage. Rates advertised are based on the borrower paying all applicable closing costs. A higher rate will apply to your loan/line of credit if you choose to have the bank pay your closing costs.

To see available rates, please:
Choose your region.

All loans and lines of credit are subject to approval, including credit approval.

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Apply By Phone 1-800-COMPASS

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