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This estimate assumes the interest rate does not change during the term.
As a homeowner, you can tap into the equity you’ve built with a revolving line of credit. We provide easy access to your account online, through convenience checks and transfers, and automatic payments can be deducted from your checking account.
If you are working to pay off multiple debts, using the equity in your home could be a good option to help you consolidate your payments. Especially if your other debts – like student loans and credit cards – have a higher interest rate. Using a Home Equity Line of Credit to consolidate your debt could help you save on the amount of interest you pay and help you simplify your payments into one.Get Started
If you have built up equity in your home, you can use it to help you with life’s big purchases, like new cars, vacations, or an unexpected emergency. With a Home Equity Line of Credit, you can use the equity you’ve built in your home to help you.Get Started
What to expect when applying for a home equity line of credit.
Complete an application for a Home Equity Line of Credit. To get started, talk with a South State banker in one of three ways:
Provide additional documentation outlined here:
A local banker will review your completed application and contact you with any additional questions within two business days.
A HELOC is a revolving line of credit secured by your home, allowing you to access the available equity you have in your home.3 The amount you borrow is based on the difference between the debt secured by your home and its market value. With an equity line, you can borrow as much or as little as you need, whenever you need it, up to a credit limit established at closing. As you repay your outstanding balance, the amount of available credit is replenished, which means you can borrow against it again, if needed.
In addition local decision making and personalized service, you also receive:
1. APR means Annual Percentage Rate. Introductory rate is 1.99% APR for the first 12 Months and then reverts to Prime (3.50%) + 0.00% APR for the remaining term is the lowest rate available which includes a discount for auto debit from a South State Bank checking account. Floor of 3.50% APR. Prime Rate is The Wall Street Journal Prime Rate (3.50% effective December 17, 2015). Prime Rate is variable and subject to change. Maximum APR is 16%. This offer applies to loan amounts of at least $10,000, and not to exceed $750,000. A minimum advance of $10,000 is required at the time of closing. Estimated closing costs on a $10,000 home equity line of credit are $700.00 and are applied to appraisal and attorney fees. Property insurance required. Promotional rate effective as of December 17, 2015. 35 month maturity option available in the state of Georgia to avoid intangible taxes. Member FDIC.
2. Please consult your tax advisor about the deductibility of interest.
3. Loans are subject to credit approval