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  Academy Bank HELOC
Academy Bank HELOC
in Home Equity Lines of Credit from Academy Bank, N.A. · NMLS ID #716627
Unaffiliated

Academy Bank HELOC

Unaffiliated
in Home Equity Lines of Credit from Academy Bank, N.A. · NMLS ID #716627
Net Recommendation Score +50  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +50, equating to 4 on a 5 point rating scale.

+50

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Rating not yet determined  

3 users recommend
0 users are unsure
1 user doesn't recommend
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Highlights
Community Rating

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Loan Amount $10,000 - $350,000
APR  (Variable APR) 5.49% - 18%
Maximum LTV 85%

Academy Bank HELOC Review

Academy Bank HELOC is offered by Academy Bank, N.A. (NMLS #716627), a bank founded in 1966 and based in Kansas City, MO. Academy Bank HELOC is available in 50 states (and Washington, DC).

Academy Bank HELOC FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit that are secured by your home. Once you get approved for a certain amount, you can access your funds by check, phone, credit card, or online up to your HELOC amount.

Academy Bank HELOC allows borrowers to apply for lines of credit of up to $350,000. Note that the maximum loan amount you can borrow will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

This lender's maximum loan to value rate is 85% for qualified borrowers. That means the total debt secured by the property cannot exceed 85% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have excellent credit, you may qualify for a line of credit of up to $65k.

What are the terms for a Academy Bank HELOC?

HELOCs have a draw and a repayment period. During the draw period you can borrow as much as you need up to your credit limit. After the draw period, you are responsible for repaying the loan. 

Academy Bank HELOC offers home equity loans with a draw period of up to 10 years and a repayment period of 15 years.

Is there a minimum draw requirement?

No, there isn't a minimum draw requirement.

What range of rates does Academy Bank HELOC offer?

Academy Bank HELOC offers APRs as low as 5.49% and up to 18%.

Remember the APRs of HELOCs do not include points and financing charges, just the interest rate. Most home equity lines of credit have a variable interest rate. Fixed interest rates -- if available -- typically have higher APRs, but your monthly payments don't change over the life of the line of credit.

What fees does Academy Bank HELOC charge for a HELOC?

Academy Bank HELOC may charge a loan origination fee . There is also an annual fee of $50. Another fee you should factor in is a cancellation fee of up to $250.

What types of property can you use as security for a HELOC with Academy Bank HELOC?

Lenders often have restrictions on the type of properties they will accept as security for a HELOC. Academy Bank HELOC will consider lines of credit secured by the following property types:

  • Primary homes.

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Message From Academy Bank, N.A.

Get the cash you need when you need it.  A home equity line of credit, or HELOC, is a type of loan where a lender agrees to lend a maximum amount of funds within a determined period, where the collateral is the borrower's home equity.  With a home equity line of credit, you can access as little or as much of your credit line as you like and use the funds for whatever you need—a kitchen remodel, debt consolidation, education expenses, major purchase, a financial reserve for unexpected expenses, and more.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 7:00pm
  • Tuesday 8:00am - 7:00pm
  • Wednesday 8:00am - 7:00pm
  • Thursday 8:00am - 7:00pm
  • Friday 8:00am - 7:00pm
  • Saturday 9:00am - 5:00pm

Other Services by Academy Bank, N.A.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Introductory Rate 1.99%
Purchase Intro APR Period (Variable APR) 6 months
Annual Fee $50
Cancellation Fee $250
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use Primary Home
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Income
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • U.S. Tax Identification Number
  • Social Security Number
Maximum LTV 85%
Draw Period 10 years
Repayment Period 15 years
Loan Amount $10,000 - $350,000
APR (Variable APR) 5.49% - 18%

Academy Bank HELOC Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +50, equating to 4 on a 5 point rating scale.

+50

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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