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Apply for a Home Equity Line of Credit or Loan

Better banking is getting our lowest rate to renovate, consolidate and make life better. Our home equity lines of credit and loans make it possible for you to add long-term value to your home, consolidate your bills to keep you moving on your financial journey or refinance and save money in the long run. Start your online application now or use our debt consolidation calculator.

Special Home Equity Line of Credit Offer1

6 months 0.99% APR

Adjusts to as low as 2.99% APR

No closing costs or processing fees2
Special Home Equity Installment Loan First or Second Lien Up to 15 Years
Term APR as low as: monthly payment/$1,000
     
5 years 2.99%3 $17.97
10 Years 2.99%3 $9.65
15 Years 2.99%3 $6.90
No closing costs or processing fees4

 

With a home equity line of credit, you have the flexibility to borrow up to 85% of your home equity as a first or second lien and make additional payments to your principal without penalty.

We'd love to connect with you about our limited-time offer which is available without closing costs or processing fees.2 We also have additional home equity loan rates, available without closing costs or processing fees.4 Learn more.

Home Equity Line of Credit vs. Home Equity Loans

Unsure of the difference between home equity loans and lines of credit? Check out this quick explanation:

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1 After the 0.99% Annual Percentage Rate (APR) 6-month introductory period, the APR on a home equity line of credit will be a variable rate based on Wall Street Journal Prime Rate (3.25% current as of March 16, 2020) plus or minus a margin (currently as low as Prime Rate – 0.26% or 2.99%). The maximum rate is 18% and the product floor rate is 2.99%. Prime may change at any time and is subject to change without notice. The introductory period begins on the date of account opening. After the introductory period ends, any and all remaining balances will automatically convert to the variable APR per the terms of the Home Equity Line of Credit agreement.  In order to receive the offered rate, a minimum of $10,000 in new money and direct debit of loan payment from a First Commonwealth Bank checking account is required, otherwise the rate will be 0.25% higher.  An early termination fee of $500 or 2% of the line amount, whichever is less, may apply if the line is closed within 36 months of account opening. An Annual Fee of $50 will be charged to your credit line.  A $75 rate lock or unlock fee may be charged if you use the rate lock feature to convert a portion of your balance between a variable rate and a fixed rate. If a deed transfer is necessary, title insurance and attorney's fees may be required.  Taxes and property insurance are always required and flood insurance is required where necessary.  Consult your tax advisor about the deductibility of interest. Other rates and terms are available.  Offer valid for applications March 1, 2021 through April 30, 2021.  Offer subject to change or withdrawal at any time. For home equity lines of credit with principal and interest payments, offer is based upon loans $10,000 to $500,000, a loan to value up to 85% on an owner-occupied primary residence, subject to credit approval, and cannot be a purchase money mortgage. For home equity lines of credit with interest only payments, offer is based upon loans $10,000 to $500,000, a loan to value up to 80% on an owner-occupied primary residence, subject to credit approval, and cannot be a purchase money mortgage.  Interest only payments will convert to principal and interest payments at the end of the 10 year draw period.

2 Processing and Third Party Fees ranging from $475 to $915 will not be assessed. If a deed transfer is necessary, title insurance and attorney’s fees may be required.

3 Offer is based upon first and second lien loans of $25,000 to $500,000, a loan to value up to 80% on an owner-occupied primary residence subject to credit approval, and cannot be a purchase money mortgage. Your actual Annual Percentage Rate (APR) may be higher based on a review of your credit application.  In order to receive the offered rate, a minimum of $25,000 in new money and a direct debit of loan payment from a First Commonwealth Bank checking account are required.  Otherwise, your rate will be higher. Processing and Third Party fees ranging from $475 to $915 will be paid by Lender. Flood insurance is required where necessary on collateral property.  If a deed transfer is necessary, title insurance and attorney’s fees may be required. Typical loan payment examples are as follows: if you borrow $25,000 secured by an owner-occupied home for 60 months at 2.99% APR, the monthly payment would be $449.11; or if you borrow $25,000 secured by an owner-occupied home for 120 months at 2.99% APR, the monthly payment would be $241.29; or if you borrow $25,000 secured by an owner-occupied home for 180 months at 2.99/% APR, the monthly payment would be $172.53. Taxes and property insurance are required on collateral property and the actual payment obligation may be greater.  Consult your tax advisor about the deductibility of interest.  Other rates and terms are available.  Offer valid for applications March 1, 2021 through April 30, 2021.  Offer subject to change or withdrawal at any time.

4 Offer is based upon first and second lien loans of $25,000 to $500,000, a loan to value up to 80% on an owner-occupied primary residence, subject to credit approval, and cannot be a purchase money mortgage. A minimum of $25,000 in new money and a direct debit of loan payment from a First Commonwealth Bank checking account are required in order for Processing and Third Party fees, ranging from $475 to $915, to be paid by Lender.  Flood insurance is required where necessary on collateral property.  If a deed transfer is necessary, title insurance and attorney’s fees may be required.   Typical loan payment examples are as follows:  If you borrow $25,000 secured by an owner-occupied home for 144 months at 3.25% APR, the monthly payment would be $209.89 or if you borrow $25,000 secured by an owner-occupied home for 240 months at 3.30% APR, the monthly payment would be $142.43.  Taxes and property insurance on collateral property are required and the actual payment obligation may be greater.  Consult your tax advisor about the deductibility of interest.  Offer valid for applications March 1, 2021 through April 30, 2021.  Offer subject to change or withdrawal at any time.