Special Low Rates on HELOCs
Prime + 0.45% or better*
for the life of the line
(currently 3.70% variable APR)
(Alabama and Florida)
Accessing the equity in your home can be a smart way to pay for major expenses like home improvement projects, medical bills, a dream vacation or to consolidate debt, typically at rates lower than credit cards and other loans.
HELOC Benefits and Features
- Flexibility to access funds now or in the future.
- As the balance owed is paid down, it becomes available again.
- Funds can be accessed through a VISA Platinum Credit Card, convenience checks, advances at a branch or by phone. (Visa Platinum Card is not available for Texas borrowers)
- Plus, using your home’s equity can generate potential tax savings. Consult your tax adviser for further information regarding the deductibility of interest and charges.
Call or visit us today to learn more and to get started.
*Special rate offer applies for all advances taken during the life of the line and is available for customers that meet minimum underwriting standards. Borrowers may get a lower rate, if they qualify for BBVA Compass relationship discounts and the resulting regular rate after applying mentioned discounts is lower than the promotional rate listed above. Call us today to learn more. Draw requirement of $25,000 is not applicable in Texas due to Texas law. HELOC: All home equity loans and lines of credit are subject to program eligibility, underwriting and collateral requirements and approval, including credit approval. BBVA Compass must receive a valid first or second real estate lien on a primary residence occupied by the borrower. Offer does not include manufactured homes. Property insurance required including flood insurance, where applicable. Home Equity Line of Credit: Minimum line amount for HELOCs is $10,000. Minimum line amount to qualify for Special Rate Offer: $25,000. Minimum periodic payment of $75 or total amount outstanding whichever is less. $50 annual fee charged on the first anniversary of the line and every year thereafter (not applicable in Texas). $75 fee for each fixed rate option, waived for the first transaction. Interest rate will vary based on the Wall Street Journal U.S. Prime Rate (as of 03/04/15 Prime Rate was 3.25%) plus a designated margin. In no event will the APR be less than 3.50%. The maximum APR will not exceed 18%. Home Equity Line of Credit Special Rate Offer: When certain conditions are met, the Special Rate Offer of Prime + 0.55% for the life of the line is valid for Arizona, California, Colorado, New Mexico, and Texas residents, Special Rate Offer of Prime + 0.45% for the life of the line is available for Alabama and Florida residents only. To qualify for the Special Rate Offer in the above states, you must have a valid BBVA Compass consumer checking account and set up recurring auto-debit loan payments at or prior to HELOC origination and take draws totaling at least $25,000 with at least $25,000 remaining outstanding on the 15th calendar day following the line’s closing date. Special Rate Offer available only on HELOC applications received between 4/01/15 through 6/30/15 that close on 04/20/15 or before 8/15/15. Special Rate Offer valid for new HELOCs only with credit line amounts of $25,000 up to $1,000,000, LTVs of 85% and below (except Texas), and meet other credit underwriting standards. Important: To qualify for the Special Rate Offer the borrower must take advances totaling at least $25,000 within 15 days of loan origination and after any rescission period required by law, with at least $25,000 remaining outstanding on the 15th calendar day after loan closing. Texas HELOC Terms: Special Rate offer valid for new HELOCs with LTVs of 80% and below. Maximum credit line cannot exceed 50% of appraised value of property, BBVA Compass must receive a valid first or second real estate lien under Article XVL, Section 50(a)(6) of the Texas Constitution on a primary residence occupied by the borrower. All other Special Rate Offer terms apply. 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 $500,000. Credit requests for less than $10,000 or more than $500,000 shall be subject to actual closing costs incurred and permitted by law. Closing cost offer not available with refinance of a first mortgage. Bank-paid closing costs are subject to recoupment from borrower(s) if loan is paid off within 2 years (not applicable in Texas). The Special Rate Offer may not be combined with any other promotional discount, but may be combined with Bank-paid closing costs.
BBVA Compass is a trade name of Compass Bank, a member of the BBVA Group. Compass Bank, Member FDIC and Equal Housing Lender.