Borrow for whatever you want, all at once.
A Frost Home Equity Loan is a type of second mortgage. It allows you to borrow against the equity you have in your owner-occupied homestead property to gain faster access to cash. This kind of loan comes with lower interest rates than other kinds of personal loans, making it a good choice for managing a variety of financial needs.
Many people use a Home Equity Loan to:
Pay off medical bills
Finance a wedding
Take on a big home improvement project
Your Frost Home Equity Loan comes with:
- A 0.25% discount with automatic payment from a Frost Checking or Savings account (first liens do not qualify)
- A potential tax deduction on the interest you pay, if you use your loan for qualifying home improvements. Consult your tax advisor for details
- Competitive interest rates and terms
- The $15 monthly service charge waived on a new Frost Plus Account
View our list of Frost Registered Mortgage Loan Originators for Home Equity Loans, Home Equity Lines of Credit and Home Improvement Loan products.
Terms to know:
Equity: The difference between your home’s fair market value and the outstanding balance of all liens on that home.
Collateral: Something you’re pledging as security for repayment of a loan.
Amortizing loan: You’ll pay a consistent monthly payment over the life of the loan, with parts of each payment going towards principal and interest.
|LOAN AMOUNT/TERM||ANNUAL PERCENTAGE RATE (APR)|
|$2,000 - $49,999 / 7 years||4.74%|
|$50,000 or greater / 7 years||4.49%|
|$2,000 - $49,999 / 20 years||5.64%|
|$2,000 - $49,999 / 10 years||4.74%|
|$50,000 or greater / 10 years||4.49%|
|$2,000 - $49,999 / 15 years||5.24%|
|$50,000 or greater / 15 years||4.74%|
|$50,000 or greater / 20 years||5.14%|
Payment Example: A loan of $20,000 for 20 years at a simple interest rate of 5.64% would yield a payment amount of $139.16 per month and an annual percentage rate (APR) of 5.64%.†