Flexible Access to Money
Draw money as needed, offering flexibility for ongoing projects or expenses.
Home Equity Line of Credit
Use the equity in your home to get the money you need.
Rates as low as
7.10
%
APR 31
APR 31
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Achieve your financial goals.
Unlock the potential of your home equity in North Carolina..
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High Loan-to-Value Ratio:
Borrow up to 100% of your home's combined loan-to-value, offering you more accessible funds.32
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Get up to Half-Percent Off Rate Discount
Enjoy a 0.25% rate discount if you have a Coastal first mortgage. And a 0.25% rate discount if you draw $15,000 from your HELOC at closing.
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No Servicing Fees
Benefit from no annual fees, no draw fees, and no prepayment penalties.31
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Closing Cost Coverage
Coastal pays all standard closing costs on new home equity lines of credit.
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Convenient Access
Manage and access your line of credit 24/7 through Digital Banking, our Mobile Banking App, and special checks.
Home Equity Line of Credit Rates
Home Equity Line of Credit Rates
Enjoy a 0.25% rate discount if you have a Coastal First Mortgage. And a 0.25% rate discount if you draw $15,000 from your HELOC at closing.
| Product | Annual Percentage Rate Variable as low as (Primary Residence) |
|---|---|
| Up to 70% of your home's combined loan-to-value 32 | 7.10% APR 31 |
| Up to 80% of your home's combined loan-to-value 32 | 7.15% APR 31 |
| Up to 90% of your home's combined loan-to-value 32 | 7.24% APR 31 |
| Up to 100% of your home's combined loan-to-value 32 | 10.05% APR 31 |
How It Works
Line of Credit Limits
Available from $10,000 up to $250,000 for qualified borrowers.
Application Process
Apply online or in a branch to start the process. Once approved, you can draw from the line of credit as needed.
Flexible Use
Use your HELOC for home renovations, funding education, debt consolidation, and more.
Frequently asked questions about a Home Equity Line of Credit.
Yes! You can use a home equity for a variety of purposes, such as debt consolidation or large purchases.
Your loan may be eligible for a 0.25% discount on your rate if you have your first mortgage with Coastal. And, if you take a minimum advance of $15,000 at closing, you may qualify for an additional 0.25% rate discount.
To access your Home Equity Line of Credit, you can make a transfer from your HELOC via Digital Banking to your checking/savings account. You can also visit your local branch to make a withdrawal or transfer, as well as order HELOC checks to use at your convenience.
There are no annual fees, minimum draw fees, or prepayment penalties for your HELOC.
To increase your limit on your Home Equity Line of Credit, you would need to submit a new application and meet current approval requirements to request a higher credit limit.
Yes! You can apply for a Home Equity Loan or Line of Credit if you have an existing mortgage with another lender.
Your Home Equity Line of Credit has a draw period of 10 years to make advances. After that, you will have a 10-year repayment period to pay off the balance owed.