Equity Loans

ASB offers Home Equity Lines of Credit and Home Equity Loans as Solutions to access your home’s untapped equity

You’ve Got Choices with various introductory rates and repayment terms available.

Home Equity Loan*

With an ASB Home Equity Loan Solution, use the equity in your home to get the funds you need now. Get your entire sum of available credit distributed to you at closing.

  • No Annual Fee
  • Fixed Monthly Payments
  • Various Repayment Terms

Rate Effective Date: 02/22/2025

TermRate*APR*Monthly payment per $1,000
15 Year6.500%6.500%$8.71
10 Year6.375%6.375%$11.29
5 Year6.250%6.250%$19.45

* Annual Percentage Rate (APR): Rates quoted are for owner- occupied 1-4 family properties and owner-occupied residential condominiums. Additional fees will apply if the property is held in a trust. The maximum combined LTV (loan to value) is 80% of the property value. Minimum loan amount $10,000.00. Property insurance and flood insurance (if applicable) are required. Payments do not include taxes and insurance; actual payment obligation may be higher. Offer and rates are subject to change at any time and all loans are subject to credit approval. Consult a tax advisor on the deductibility of interest.

Apply Now for a Home Equity Loan*
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Home Equity Line of Credit

If your home is worth more than you owe, you have equity and chances are you can borrow from it to fund things like home upgrades, trips, or other large expenses. A HELOC allows you to use only what you need when you need it.

  • Revolving line of credit with a draw period followed by repayment period

Rate Effective Date: 02/22/2025

Introductory Rate PeriodAPRActions
6 Months4.99% for 6 months then Prime minus 0.50% for the life of the loan*

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12 Months5.49% for 12 months then Prime minus 0.50% for the life of the loan*

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24 Months6.50% for 24 months then Prime minus 0.50% for the life of the loan*

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36 Months6.50% for 36 months then Prime for the life of the loan**

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*Annual Percentage Rate (APR): Variable rate after the introductory period, is Prime rate, as published in the Wall Street Journal minus 0.50%. Currently 7.00% as of 1/7/25. After the introductory period, the minimum APR is 3.49% with a maximum APR of 12.00%. Rates quoted are for owner-occupied 1-4 family and owner-occupied residential condominiums. Additional fees will apply if the property is held in a trust. The maximum combined LTV (loan to value) is 80% of the property value, less any existing first mortgage liens. An appraisal is required. With each product there is a 10-year draw period with interest-only payments followed by a 10-year repayment period with interest and principal payments due. Minimum loan amount is $10,000.00. Property insurance and flood insurance (if applicable) are required. If the line is paid off and closed within 36 months, the Bank paid closing costs must be repaid and can range from $500-$1,500 depending on the final expenses incurred by the Bank. A $50 annual fee applies after the first year. Offer and rates are subject to change at any time and all loans are subject to credit approval and is available only on new home equity lines of credit. Consult a tax advisor on the deductibility of interest.

 

** Annual Percentage Rate (APR): Variable rate after the introductory period, is Prime rate, as published in the Wall Street Journal currently 7.50% as of 12/18/24. After the introductory period the minimum APR is 3.49% with a maximum APR of 12.00%. Rates quoted are for owner- occupied 1-4 family and owner-occupied residential condominiums. Additional fees will apply if the property is held in a trust. The maximum combined LTV (loan to value) is 80% of the property value. With each product there is a 10-year draw period with interest only payments followed by a 10-year repayment period with interest and principal payments due. Minimum loan amount is $10,000.00. Property insurance and flood insurance (if applicable) are required. If the line is paid off and closed within 36 months, the Bank paid closing costs must be repaid and can range from $500-$1,500 depending on the final expenses incurred by the Bank. A $50 annual fee applies. Offer and rates are subject to change at any time and all loans are subject to credit approval. Consult a tax advisor on the deductibility of interest.