Home Equity

When making a major purchase, trust First Commonwealth to offer the most competitive rates and top-of-the-line protection. Plus, we make the lending process safe and easy. Our Home Equity Loans or Line of Credit provide an affordable source of funds to purchase a vehicle, consolidate debt, improve your home, or even go on a dream vacation. Our home equity lending options have low, monthly payments and flexible terms.

Check the status of your loan

Home Equity Loans - Fixed-Rate

Benefits of a Home Equity Loan

  • Borrow a large lump sum for important, long-term purchases
  • Paid interest is often tax-deductible (consult your tax advisor)
  • Pick the term that works best for your budget: Terms of 5 to 20 years available.

What Sets our Home Equity Loans Apart

  • No minimum loan amount
  • Borrow up to 90% of your home's value
  • Affordable Payment Protection options can cancel a debt due or a payment for a period of time due to death, disability, or involuntary unemployment
  • No processing or appraisal fees

Home Equity Line of Credit - Variable

Advantages of a Home Equity Line of Credit

  • A great way to finance large expenses
  • Borrow as little or as much as you need, when you need it.
  • Easy access: Take advances on our line of credit using HomeLink online banking, by writing a check or over the counter at any of our branches.
  • Lower interest rates than a Credit Card or Personal, Unsecured Loan
  • Distinct tax advantages, including deductible interest (please consult your tax advisor)
  • A fixed rate for the first year, variable thereafter.
  • Minimum Payments are 1.1% of the outstanding balance
  • You can borrow up to 85% of your home's equity
  • Maximum term of 15 years
  • No processing or appraisal fees

Information About Your HELOC

  • Draw any amount, up to your limit, on your line of credit at any time
  • You're only charged interest on the amount you owe not on the limit
  • Access your line of credit anytime during the 15-year term

How to Access Your HELOC

  • You receive checks when you open your line of credit to access the funds
  • You can transfer funds from your HELOC to your checking account via HomeLink, TellerPhone or by visiting a branch


Printable Rates

Home Equity Loan Rate

  •  01/01/2017
Term Loan to Value 1st Lien Position - APR (as low as) 2nd Lien Position - APR (as low as) Alert Me
5 Years up to 80% 3.24% 3.89%
up to 90% 4.24% 4.89%
10 Years up to 80% 3.94% 4.49%
up to 90% 4.50% 5.79%
15 Years up to 80% 4.50% 5.39%
up to 90% 4.50% 6.39%
20 Years up to 80% 4.75% 5.89%
up to 90% 4.75% 6.89%
APR denotes Annual Percentage Rate. All APR calculations on Home Equity Loans are based on a $20,000 loan amount. The rates for this loan type are based on an evaluation of applicant credit. Maximum LTV for loan amounts up to $150,00 is up to 90%. The Maximum LTV for any loan amounts over $150,00 and up to $500,000 is 80%.

Home Equity Line of Credit

  •  01-01-2017
Term Loan to Value APR (as low as) Non-Promo Rate Alert Me
1-Year fixed-rate introductory period up to 80% 1.99% 3.75%
up to 85% 2.49% 4.25%
3-Year fixed-rate introductory period up to 80% 3.75% 3.75%
up to 85% 4.25% 4.25%
APR denotes Annual Percentage Rate. The minimum interest rate for a Home Equity Line of Credit is the Prime Rate plus a margin with a minimum floor of 3.25% ARPR and a maximum ceiling of 15% APR. The rates for this loan type after the introductory period are based on the applicant’s credit score at time of application.


Free education and resources for our members.


Home equity loan calculator with payment protection options.


Determine the home equity line of credit amount you may qualify to receive.


Look at a variety of loans.  Change your monthly payment, loan amount, interest rate or term.

Verify Your Insurance

You will need to verify you have insurance for your home.  You can provide your insurance information online or via phone at 800.998.0762.