Taylor Bank HELOC

Our Home Equity Line of Credit (HELOC) offers a low variable rate, a quick approval process, closing costs up to $2,500* covered, and the confidence of working with a local bank you can trust. Use a HELOC to:
  • Consolidate high-interest debt
  • Fund home improvements or renovations
  • Pay for education or major life events
  • Cover unexpected expenses
 

Flexible funds, right when you need them.

Apply online today to receive the current competitive rate of 7.07% APR*

15-Year Revolving Line of Credit
Taylor Bank pays your closing costs - up to $2,500*
Quick and easy approval process

Apply online

























































































































How a Taylor Bank HELOC Helps You Save

A Taylor Bank HELOC helps you manage big expenses at a fraction of the cost of high-interest credit cards — and with flexible access to funds as you need them. For example:
  • Outstanding balance: $50,000
  • Est. monthly payment with a HELOC: $456
  • Est. monthly payment with a credit card (20% APR): $878


How a HELOC Works

Think of a HELOC as a revolving line of credit. Unlike a traditional loan, you don’t receive a lump sum. Instead, you borrow only what you need, when you need it — and as you pay it back, those funds become available again. It’s a simple, cost-effective way to turn your home’s equity into lasting opportunity.






















































Ready to get started?

  • Apply online through our secure portal
  • Or connect directly with a Taylor Bank lender for personalized guidance:
 

FAQs

 HELOC is a revolving line of credit that uses the equity in your home as collateral, giving you access to funds whenever you need them.
 You can draw funds as needed, up to your credit limit, and only pay on the amount you borrow. 
3 Ways to Access Your HELOC Funds:
  • Transfer funds online: Conveniently and quickly transfer funds to your checking and savings accounts at any time through Taylor Bank personal digital banking.
  • HELOC checks: Use pre-printed checks we will supply you.
  • In-person request: Request a credit advance at any of our branches.
 After the draw period, your balance switches to a 15-year repayment plan with regular, predictable monthly payments.
 Taylor Bank covers up to $2,500* in closing costs, saving you money from the start.
















 
All loans are subject to credit and property approval. 
AVAILABILITY OF TERMS. All of the terms of the Plan described herein are subject to change.
SECURITY INTEREST. We will take a security interest in your home. You could lose your home If you do not meet the obligations in your agreement with us.
FEES AND CHARGES. In order to open and maintain an account, you must pay certain fees and charges. Third Party Fees. You must pay certain fees to third parties such as appraisers, credit reporting firms, and government agencies. These third-party fees generally total between $15.00 and $5,100.
RECORDATION TAX. You will pay any fees and taxes imposed on the recording of the Deed of Trust or on credit advances made to you under the Plan, whether due at the time the Deed of Trust is recorded or at any time after the Deed of Trust is recorded. If you have elected to pay the Maryland recordation tax on the Deed of Trust based upon the amount of each credit advance as and when a credit advance is made, you agree to pay the amount of the tax which is payable on each such credit advance. If these taxes are not paid by you when in our sole determinations such taxes are due, we may, at our option, and without notice to you, determine the amount due, pay such taxes and charge the amount paid to your Credit Line Account.
*CLOSING COSTS. The bank has agreed to pay these closing costs on your behalf, provided you keep the HELOC open for a period of at least thirty-six calendar months. If you terminate this HELOC within the first thirty-six months from the loan date, you agree to reimburse Lender for all bank closing costs.
PROPERTY INSURANCE. You must carry insurance on the property that secures the Plan.
MINIMUM PAYMENT REQUIREMENTS. You can obtain advances of credit during the following period: 180 Months (the “Draw Period•). After the Draw Period ends, the repayment period will begin. You will no longer be able to obtain credit advances. The length of the repayment period is as follows: 180 Months.
TAX DEDUCTIBILITY. You should consult a tax advisor regarding the deductibility of interest and charges for the Plan.
VARIABLE RATE FEATURE. The Plan has a variable rate feature. The ANNUAL PERCENTAGE RATE (corresponding to the periodic rate), and the minimum payment amount can change as a result. The ANNUAL PERCENTAGE RATE does not include costs other than interest.
THE INDEX. The annual percentage rate is based on the value of an index (referred to in this disclosure as the “Index”). The Index Is the One(1) Month Nominal Constant Maturity Treasury Series Rate published daily by the Board of Governors of the Federal Reserve System in Statistical Release H.15. Information about the Index is available or published at www.federalreserve.gov/releases/h15. We will use the most recent Index value available to us as of two business days prior to the end of the previous month for any annual percentage rate adjustment.
ANNUAL PERCENTAGE RATE. To determine the Periodic Rate that will apply to your First Payment Stream, we add a margin to the value of the Index, then divide the value by 365 days. To obtain the ANNUAL PERCENTAGE RATE we multiply the Periodic Rate by the number of days in a year (366 during leap years). This result is the ANNUAL PERCENTAGE RATE for your First Payment Stream. To determine the Periodic Rate that will apply to your Second Payment Stream, we add a margin to the value of the Index, then divide the value by 365 days. To obtain the ANNUAL PERCENTAGE RATE we multiply the Periodic Rate by the number of days in a year (366 during leap years). This result is the ANNUAL PERCENTAGE RATE for your Second Payment Stream. A change in the Index rate generally will result in a change in the ANNUAL PERCENTAGE RATE. The amount that your ANNUAL PERCENTAGE RATE may change also may be affected by periodic annual percentage rate change limitations and the lifetime annual percentage rate limits. Please ask us for the current Index value, margin and annual percentage rate. After you open a credit line, rate information will be provided on periodic statements that we send you.
FREQUENCY OF ANNUAL PERCENTAGE RATE ADJUSTMENTS. Your ANNUAL PERCENTAGE RATE can change Monthly. Your ANNUAL PERCENTAGE RATE cannot increase or decrease more than 2.000 percentage points at each adjustment. However, under no circumstances will your ANNUAL PERCENTAGE RATE exceed 18.000% per annum or, go below 4.000% per annum at any time during the term of the Plan.
PREPAYMENT. You may prepay all or any amount owing under the Plan at any time without penalty. PAYMENT DATE. All HELOC payments are due on the first of each month