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Zero closing costs. Zero processing fees.

Limited-time home equity line of credit special 5.99% APR for 6 months which adjusts to as low as 7.01% APR1.

Better banking is getting our lowest rate to renovate, consolidate and make life better without paying closing costs or processing fees on your line of creditor your home equity loan2. Our home equity lines of credit 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. 

You can start your home equity application online, in person or by phone. If you prefer scheduling an appointment before coming in person, you can do that online.

Special Home Equity
Line of Credit Offer1

6 months5.99% APR1Adjusts to as low as 7.01% APR

With a home equity line of credit, you have the flexibility to borrow up to 89% 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 on your line of credit1.

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 and our comparison chart:

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Loan Comparison

 Home Equity LoanHome Equity Line of Credit
Amounts available$25,000 - $500,000$10,000 - $500,000
Terms available5 to 20 years10 year draw period
Loan to valueUp to 80%Up to 89%
Lien positionFirst or second lienFirst or second lien
Low Intro Rate

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Click here to see our great rate options

5.99% APR 6-month introductory period. Adjusts to as low as 7.01% APR1
Fixed RateCheckmark

A fixed interest rate lock payment option allows you to convert a portion of your balance to a fixed interest rate for a term of 3 to 20 years

Variable RateN/ACheckmark
Payment option – Pay the same amount every monthCheckmarkN/A
Payment option – Interest Only during the draw periodN/ACheckmark
Draw additional funds as needed

N/A

Receive entire loan amount as a lump sum

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Up to your credit limit during the draw period

One-time borrowing needCheckmarkN/A
Interest may be tax deductible3CheckmarkCheckmark
View balance and transactions in online/ mobile bankingCheckmarkCheckmark
Transfer funds during the draw period by check, phone, online or at a First Commonwealth officeN/ACheckmark
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1 After the 5.99% 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 (7.50% as of 12/19/24) plus or minus a margin (currently as low as Prime Rate – 0.49% or 7.01%). 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 may be 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 February 1, 2025 through March 31, 2025.  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 89% 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.

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.

2 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 60 months at 6.54% APR, the monthly payment would be $489.62; or if you borrow $25,000 secured by an owner-occupied home for 240 months at 6.96% APR, the monthly payment would be $193.22.  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 February 1, 2025 through March 31, 2025.  Offer subject to change or withdrawal at any time.

3 Consult your tax advisor about the deductibility of interest.