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Home Equity Loans and Lines of Credit

Use the equity in your home to your advantage. With a home equity loan or line of credit (HELOC), you can leverage the investment you have in your home as collateral to start projects that add value to your home, consolidate debt into a more manageable monthly payment, refinance your mortgage or finance major expenses such as college tuition.

We offer Home Equity Loans and FlexChoice Home Equity Line of credit. A home equity loan vs a line of credit is a personal decision, based on your financial situation. With a home equity loan, you receive the entire amount requested with a fixed rate. With a line of credit, you have access to borrow a portion of the amount now and into the future, with a variable rate.

What you'll need to apply:

Home Equity Loan Rates & Features:

  • Available for loan amounts from $10,000 to $500,000 with a fixed rate, term and monthly payment
  • Borrow up to 80% of your home equity as a first or second lien
  • Make additional payments to your principal without penalty
  • Enjoy a rate discount when you select automatic payments from your First Commonwealth checking account.
  • Credit Life Insurance and Credit Disability Insurance are available for Pennsylvania borrowers

FlexChoice Home Equity Line of Credit (HELOC) Rates & Features:

  • No processing fee or closing costs1
  • Available for credit lines from $10,000 to $500,000
  • 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
  • Borrow up to 85% of your home equity as a first or second lien
  • Access your funds by check, phone, online, or at a First Commonwealth office
  • Set up automatic payments from your First Commonwealth checking account
  • Credit Life Insurance is available for Pennsylvania and Ohio borrowers

To make sure you're borrowing at a rate you can afford, use our calculators.

Interest paid may be deductible from your federal income tax. Consult your tax advisor for details specifically related to your tax situation.

1 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.

subject to change or withdrawal at any time.