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  First Horizon Bank Home Equity Line Of Credit

First Horizon Bank Home Equity Line Of Credit

in Home Equity Lines of Credit from First Horizon Bank

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First Horizon Bank Home Equity Line Of Credit

Unaffiliated

in Home Equity Lines of Credit from First Horizon Bank

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Highlights
Loan Amount N/A
APR  (Variable APR) N/A
Maximum LTV N/A

First Horizon Bank Home Equity Line Of Credit Review

First Horizon Bank Home Equity Line Of Credit is offered by First Horizon Bank, a bank founded in 1864 and based in Memphis, TN. First Horizon Bank Home Equity Line Of Credit is available in 6 states across the USA.

First Horizon Bank Home Equity Line Of Credit FAQ

What are the terms for a First Horizon Bank Home Equity Line Of Credit?

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. 

First Horizon Bank Home Equity Line Of Credit offers home equity loans with a draw period of up to 10 years

Is there a minimum draw requirement?

No, there isn't a minimum draw requirement.

What fees does First Horizon Bank Home Equity Line Of Credit charge for a HELOC?

First Horizon Bank Home Equity Line Of Credit may charge a loan origination fee . Another fee you should factor in is a cancellation fee of up to $500.

What types of property can you use as security for a HELOC with First Horizon Bank Home Equity Line Of Credit?

Lenders often have restrictions on the type of properties they will accept as security for a HELOC. First Horizon Bank Home Equity Line Of Credit will consider lines of credit secured by the following property types:

  • Primary homes.
  • Secondary homes and vacation properties

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Message From First Horizon Bank Home Equity Line Of Credit

Access the equity in your home via a line of credit that you can use as you need funds. Put your equity to work toward home improvements, debt consolidation, or other major purchases with a Home Equity Line of Credit (HELOC). Withdraw funds as you need them, and you can choose to pay interest only on that portion of the line you use during the draw period. In addition to using a HELOC for debt consolidation and home improvements, you may also use it to purchase a new home. You can use the Purchase HELOC for your primary residence.

Availability

  Available in 6 states
  • Florida
  • North Carolina
  • South Carolina
  • Tennessee
  • Texas
  • Virginia

Feature Breakdown

Cancellation Fee $500
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Minimum Age 18
Supported Income Types
  • Payroll Check or Prepaid Card
Verification Documents Required
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Draw Period 10 years
Interest Rate Types Offered Adjustable-Rate Mortgage (ARM)

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