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Home Equity Line of Credit

Ready to tap your home’s equity? Faster?

You’ll like

a Santander
Home Equity Line of Credit

If you’re looking for

easy access to funds for planned or unplanned expenses.

Favorite features

  • Flexibility to borrow any time.
  • Low payments and low rates, variable or fixed.
  • No up-front costs like application or appraisal fees.
  • Fixed-Rate lock option to lock-in your outstanding balance at a fixed rate.
  • Dedicated Home Equity specialists to help you along the way.

EZApply® from Santander®

Ready when you are with the fastest and simplest way to apply and close on a Santander Home Equity Line of Credit.

  • Apply fast and paperless any time, anywhere.
  • Track your application status from start to finish.
  • Work with a loan specialist assigned to you
  • Close the loan at your convenience.

Talk to a Home Equity Specialist.


Santander Home Equity Line of Credit benefits:

  • Borrow any time. Different than a traditional loan, you do not have to start paying immediately. Only when you use your line.
  • Use and reuse your line as you re-pay for up to 10 years.
  • Choose between Interest only or Principal & Interest payment options during the 10-year draw period. After that, 20 years to repay.
  • Access funds through mobile, online banking, or checks.
  • Apply easily online or over the phone.
  • 0.25% off your rate with automatic payment from a Santander checking account. Other discount rates may be available based on your deposit accounts.2
  • No minimum-draw requirement to receive the best rate unlike most banks.
  • Normally a cheaper lending option than a personal loan or a credit card.

Unlike most Mortgages & Fixed rate loans, a Santander Home Equity Line of Credit comes with:

  • No application fee.
  • No appraisal fees.
  • No closing costs.2
  • Opt for a fixed rate with a predictable payment.
  • Allows you to lock in all or a portion of your outstanding balance to a fixed rate up to your available credit limit.
  • Access additional funds up to your available credit limit that you don’t choose to convert.

What Can a Home Equity Line of Credit (HELOC) Be Used For?



Sprucing up your home with improvements or renovations.



Financing higher education costs.

Debt Consolidation

Consolidating your higher-interest-rate debt into one monthly payment.

Major expenses


Medical expenses, buying a new car, etc.

HELOC tools and resources.

Check current variable-rate payment chart.

State First-Lien (HELOC),
line amount of
Draw Amount Principal and
Interest Payment


$200,000 $25,000 $171.88 $67.71 3.25%

NY, FL and MD

$200,000 $25,000 $177.08 $72.92 3.50%


$200,000 $50,000 $343.75 $135.42 3.25%
NY, FL and MD $200,000 $50,000 $354.17 $145.83 3.50%

Above rates are valid with automatic payment from any Santander Bank checking account and a maximum 70% Loan-To-Value ratio. Other rates available for Loan-To-Value ratios from 70% to 80%.
Payment examples do not include real estate taxes, homeowners insurance, or other amounts. Santander does not escrow (or charge borrowers for escrow waiver) on home equity lines of credit.

Have questions?


Talk to a dedicated HELOC specialist.

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Frequently Asked Questions

1 Check with your tax advisor

2 Rates: The Home Equity Line of Credit (Line) Variable Annual Percentage Rate (APR), is based on the U.S. Prime Rate published in The Wall Street Journal (Prime)(3.25% as of 4/5/2021). We offer variable APRs with automatic payments from a Santander consumer checking account from Prime (currently 3.25% APR) to Prime plus 3.75 percentage points (currently 7.00% APR), but if your property is located in NY, FL or MD, the available variable APRs range from Prime plus 0.25 percentage points (currently 3.50% APR) to Prime plus 4.00 percentage points (currently 7.25%). The variable APR you receive will depend on the following factors: amount of credit limit received, lien position, state of the pledged property, your credit score and ePay election. If ePay is discontinued, the APR will increase by 0.25 percentage points. Variable APRs may change each billing cycle if Prime changes. The Line must be a first or second lien, secured by your 1-4 family primary residence (excluding mobile homes and co-ops) located in MA, RI, CT, NH, NJ, NY, PA, DE, ME, VT, MD, DC, or FL and total mortgage loans to be secured by the property must not exceed 80% (75% maximum in FL) of the property’s value. Line amount must be between $10,000 and $750,000. The APR will never be higher than 18.00% or less than 2.24%. Fees: There is a $450 termination fee if you close the Line within the first 36 months of account opening. If your property is located in NY, FL or MD, the Bank will pay the mortgage tax at closing on your behalf; however, it must be reimbursed if the Line is closed within 36 months of account opening. Any annual fee will be charged in the 13th month after you open the Account and in the same billing cycle of each following year during the Draw Period. The amount of the annual fee will be $50, which may be discounted or waived based on the type of deposit account you have with Santander Bank at the time the fee is assessed. Fixed-Rate Lock: Balances you choose to lock in with the Fixed-Rate Lock option must be repaid in equal monthly payments of both principal and interest. Fixed rate and repayment terms will be determined at the time the fixed-rate lock is established. General Information: A $175 fee applies if your property is held in trust. Property insurance is required. Flood insurance may be required. Rates and terms are accurate as of 4/5/2021 and are subject to change without notice. Lines subject to approval.