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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

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Highlights
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 borrow as much as you need by writing a check or a credit card attached to the account.

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

Feature Breakdown

Introductory Rate 1.99%
Purchase Intro APR Period (Variable APR) 6 months
Annual Fee $50
Cancellation Fee $250
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • 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
  • Proof of Income
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • U.S. Tax Identification Number
  • Social Security Number
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Maximum LTV 85%
Draw Period 10 years
Repayment Period 15 years
Loan Amount $10,000 - $350,000
APR (Variable APR) 5.49% - 18%

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