Banner Bank HELOC Review

Banner Bank HELOC is offered by Banner Bank (NMLS #439266), a bank founded in 1890 and based in Walla Walla, WA. Banner Bank HELOC is available in 4 states across the USA.

What are the terms for a Banner 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. 

Banner Bank HELOC offers home equity loans with terms ranging from 2 to 10 years.

Is there a minimum draw requirement?

No, there isn't a minimum draw requirement.

What range of rates does Banner Bank HELOC offer?

Banner Bank HELOC offers APRs starting at 3.24% 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 Banner Bank HELOC charge for a HELOC?

Banner Bank HELOC may charge a loan origination fee. There is also an annual fee of $75.

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

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

• Primary homes.