No closing costs2 and no annual fee.

Limited Time Offer

Introductory rate


for six months1

Rates as low as


after promotional period


A home equity line of credit from The Summit puts your home’s equity to work for you. Use it for…

Unexpected Emergencies

Refinancing Debt

Home Improvement

Want to expedite your application process? Here are the documents you’ll need:

  • Most Recent W2 (2021)
  • 30 Days Paystubs
  • Most Recent Mortgage Statement
  • Homeowner’s Insurance Declaration Page

Home Equity Line of Credit Calculator

Use this calculator to determine the HELOC amount you may qualify to receive. The line of credit is based on a percentage of the value of your home. The more your home is worth, the larger the line of credit. Of course, the final line of credit you receive will take into account any outstanding mortgages you might have. This includes first mortgages, second mortgages and any other debt you have secured by your home.

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Home Equity Line of Credit 85% Loan Value Rates

Loan Amount
6 Month Promotional Introductory APR
Index + Margin
Resulting APR*
Payment per $1,000
$15,000 or less
Prime + .50%
$15,000.01 – $50,000
Prime + 0.25%
over $50,000
Prime – 0.25%

View our current Home Equity Rate Sheet for a full list of rates. Looking for other home equity line of credit options? Check out other options.

We’d Love to Help You Get Started

    Want to talk to someone right away?

    Contact our Mortgage Department at (800) 836-7000 extension 7010.

    THE SUMMIT IS AN EQUAL HOUSING LENDER. Membership eligibility required. Limited time offer. Subject to change without notice.

    1. APR as low as 6.00% available for line limits greater than $50,000. For line limits between $15,000 and $50,000, the APR as of 09/23/2022 was 6.50% and for line limits of $15,000 or less was 6.75%. The introductory APR used during the first 6 months after the open date is not based on the index and margin used to make later adjustments. After the introductory rate expires, account subject to a variable rate based on the highest Prime Rate as published in the Wall Street Journal’s Money Rates Section in effect on the day that any introductory period expires and subsequently on the last Tuesday of the calendar month immediately preceding each change date plus a margin. As of 09/23/2022, on a minimum of $50,000.01 HELOC, the fully-indexed APR was 6.00%, based on a Prime Rate of 6.25% minus 0.250%. Thereafter, variable rate subject to change based on the highest Prime Rate and a margin of minus 0.250% to plus 0.50% depending on the line limit. Maximum 18% APR.

    2. Loans subject to credit approval and certain limitations may apply. Closing costs (when applicable) include a title search, mortgage tax, filing fees, flood certification fee, and title insurance and are estimated to range from $495 to $1,500 (usually 3.0% to 5.0% of the amount borrowed). Property insurance required. If you opt not to pay the closing costs associated with your home equity line of credit (HELOC), you must reimburse us for all costs we paid to third parties to open your HELOC unless you keep account open for at least 3 years from the HELOC open date.