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 Lines 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.
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You can upload copies of your income verification (recent paystub, pension or social security statement, etc), last two years of W2s, a copy of your Homeowners Insurance Policy and a recent Mortgage Statement directly to your application.
Learn more about the differences in a closed-end loan or an open-end line of credit.
You can 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.
You will receive checks when you open your line of credit to access the funds. You can also transfer funds from your HELOC into one of your accounts via online or phone banking, or by visiting a financial center.
Already submitted an application? Need to check the status or upload documents?
| Term | Loan to Value1 | 1st Lien Position - APR (as low as)2 | 2nd Lien Position - APR (as low as)2 |
|---|---|---|---|
| 5 Years | up to 80% | 3.24% | 3.99% |
| up to 90% | 3.99% | 4.74% | |
| 10 Years | up to 80% | 3.49% | 4.24% |
| up to 90% | 4.24% | 5.74% | |
| 15 Years | up to 80% | 3.99% | 4.74% |
| up to 90% | 4.49% | 5.99% | |
| 20 Years | up to 80% | 4.24% | 5.24% |
| up to 90% | 4.49% | 6.24% | |
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| Term | Loan to Value | APR (as low as) | After introductory period (as low as) |
|---|---|---|---|
| 1-Year Fixed-Rate Introductory Period1 | up to 80% | 2.99% | 4.75% |
| 3-Year Fixed-Rate Introductory Period1 | up to 80% | 4.25% | 4.75% |
| 1-Year Fixed-Rate Introductory Period with Interest Only Payments2 | up to 80% | 2.99% | 4.75% |
| 3-Year Fixed-Rate Introductory Period with Interest Only Payments2 | up to 80% | 4.25% | 4.75% |
| 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 3.50% APR and a maximum ceiling of 15% APR. The rate for this loan type after the introductory period is variable and based on the applicant’s credit score at time of application. | |||
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Home equity loan calculator with payment protection options.
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*Annual Percentage Rate (APR) effective 01-25-2020 and subject to change. All rates are based on an evaluation of applicant credit. The rates for this loan type, after the introductory period, are based on the applicant’s credit score at the time of application, currently as low as 4.75% APR. The minimum interest rate, after the introductory period, is Prime Rate and a margin, with a floor of 3.50% and maximum ceiling of 15%. Other rates and terms available.
