Banner Bank is based in Walla Walla, WA. The company was founded in 1890 and offers home equity lines of credit (HELOCs) to borrowers in 4 states across the USA.
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.
Banner Bank offers home equity loans with a draw period of up to 10 years and a repayment period of 20 years.
No, there isn't a minimum draw requirement
Banner Bank offers home equity loans with APRs starting at 3.74% 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.
Banner Bank may charge a loan origination fee. There is also an annual fee of $75.
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