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Last Updated: 04/18/2025

Fremont Bank HELOC

from Fremont Bank

Last Updated: 04/18/2025

Rating not yet determined2 total votes

2 users recommend

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Highlights

Credit Score Range

660 - 850

Amount Range

$20,000 - $250,000

Maximum LTV

80%

Minimum Draw

Starting at $300

Loan Term (Years)

25 - 30

Fremont Bank HELOC Review

Fremont Bank HELOC is offered by Fremont Bank (NMLS #478471), a bank founded in 1964 and based in Fremont, CA. Fremont Bank HELOC are available in 4 states.

Key Takeaways

Fair credit accepted. Borrowers with a credit score as low as 660 may qualify for Fremont Bank HELOC.
Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, Fremont Bank HELOC does offer financing for primary and secondary homes (e.g. vacation properties).
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Maximum LTV. Fremont Bank HELOC has a maximum loan to value ratio of 80%.

Fremont Bank HELOC Pros & Cons

Pros

Cons

Considers applicants with fair credit.

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.
Only available in 4 states.

Fremont Bank HELOC FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.

Borrowers can apply for lines of credit of up to $250,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

The maximum loan-to-value (LTV) ratio goes up to 80%. This means total debt secured by the property cannot exceed this percentage of its value. For example, on a $100,000 home with a $20,000 mortgage balance, you may qualify for up to $60k in credit.

What are the terms for Fremont Bank HELOC?

HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.

Fremont Bank HELOC offers home equity loans with terms ranging from 25 to 30 years.

Is there a minimum draw requirement?

Yes. The minimum draw requirement is $300.

What fees does Fremont Bank HELOC charge for a HELOC?

Fremont Bank HELOC may charge an origination fee.

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

Fremont Bank may consider HELOCs secured by the following property types:

Primary residences
Secondary or vacation homes

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Message from Fremont Bank HELOC

Tap into your home’s available equity and get funds for renovations and more. Our industry-leading digital application streamlines the application process. We also offer two Home Equity Lines of Credit (HELOC) options so you can get the right loan for your needs. Call us to learn more! A Home Equity Line of Credit (HELOC) is a great tool for unplanned expenses or consolidating high interest rate debt like credit cards or auto loans. It’s also ideal for financing a home remodel or repairs. Draw on the equity line now, or whenever you need it. Find out why you should choose Fremont Bank.

Contact

Headquarters

39150 Fremont Blvd

Fremont, CA 94538

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Hours of Operation

SundayClosedMonday9:00AM - 6:00PMTuesday9:00AM - 6:00PMWednesday9:00AM - 6:00PMThursday9:00AM - 6:00PMFriday9:00AM - 6:00PMSaturday9:00AM - 1:00PM

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