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Home Equity Lines of Credit - Popular Bank
Unlock the value of your home.
Whether you wish to consolidate a high-rate debt, make updates to your home or plan for a major expense, we’re here to help.
Popular Equity Advantage Line of Credit1
We provide lines of credit in New York, New Jersey and Florida, for single-family homes, townhouses, condos and two- to four-unit residential properties.
New York & New Jersey
Florida
Borrow up to 75% of your primary home’s value
Borrow up to 70% of your primary home’s value
Minimum line of credit: $10,000
Why Choose a Popular Home Equity Line of Credit?
Revolving Credit Line
Use your HELOC to cover large expenses such as home renovations or medical bills.
No Closing Costs2
No additional cost at closing equals more money to use for your expenses.
10-Year Draw Period
Followed by a convenient repayment term.
Flexible Access
Access your line by check, a transfer through online banking or a cash advance at a branch.
Free to Apply
No application fees and no points required.
Tax Deductible
The interest you pay may be 100% tax deductible. Consult your tax advisor.
Fixed Rate Lock Option3 Available
Lock up to three portions of your balance at one time. Repaid principal becomes part of your available line again.
Auto-Debit
Ask a Banker about our Auto-Debit service.
Learn how to use the equity in your home today. Contact your local branch or call our Customer Care Center at 1.888.317.9062.
1All loans subject to credit and property approval. Rates are variable, terms and conditions vary by state and product features, and criteria are subject to change without notice. Please contact a banker or Customer Care Center representative for updated information and current rates.
2Popular will pay all third-party fees for home equity lines of credit of $500,000 or less. For lines of credit $500,000 or less, if you choose to pay off and close your line of credit within three years, a single payment will be charged to recapture any third-party fees paid by the bank. If you refinance your line of credit with Popular, we will waive this single payment to recapture the third-party fees. Third-party fees, other fees and taxes apply to lines of credit over $500,000.
3Rate lock feature offers fixed-interest rate loans with a minimum lock amount of $5,000 per request, maximum 3 locked amounts at one time. The first rate lock is free, additional rate locks are $50, are treated as a finance charge and are assessed against the line. As it applies to applicable rate locks, loan payments consist of both principal and interest to fully repay the locked portion over the course of the term selected. See a banker for more details.
Popular Bank, PO Box 4503, Oak Park, IL 60303-4503. Customer Service Phone: 1-888-500-2612
For New York Borrowers: Popular Bank is regulated by the New York Department of Financial Services (NYDFS). To file a complaint contact New York State Department of Financial Services Consumer Assistance Unit at 1-800-342-3736 or by visiting the Department’s website at
www.dfs.ny.gov. Popular Bank may utilize third party service providers to service your loan but remains responsible for all actions taken by the third party.
For more information regarding fees for mortgages and home equities serviced by Popular Bank, please see our Residential Mortgage and Home Equity Product Servicing Fees
here.
Does not apply to mortgages serviced by Popular Mortgage Services. For information regarding fees for Popular Mortgage Services accounts, please
sign in
to your account.
NYC Residents: Popular Bank provides language access services in Spanish. Please note that Popular Bank has customer service options to speak with an agent in Spanish. Popular Bank’s language access services are limited to verbal communications with an agent in Spanish. Popular Bank does NOT provide any other language access services in Spanish (or any other language) and, specifically, does not provide translations of any documents in Spanish (or any other language).
A translation and description of commonly-used debt collection terms is available in multiple languages on the NY Department of Consumer Affair’s website, www.nyc.gov/dca
Please never share your Popular account details with anyone. Popular will never ask you for your password through email, social media or a third-party website. Learn more.
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