Turn Your Home Projects from Possibilities to Reality
Put your home’s equity to work with a flexible HELOC from AB&T.
Whether you’re planning upgrades, tackling a to-do list, or preparing for what’s next, a HELOC gives you a simple way to access the equity you’ve built in your home.
With an AB&T HELOC, you can draw funds as you need them and pay interest only on what you use, during the drawn period.
With variable APRs starting at 6.75% for customers with a qualifying checking account and autopay, you’ll have the flexibility to move forward with confidence.
From small updates to big plans, your equity can help you get there—without the complexity.
Not Sure if a HELOC is Right For You?
HELOC FAQs
Do I have to use the full amount of my HELOC right away?
No. You can draw funds as you need them and only pay interest on the amount you use, not your full credit line.
What do homeowners typically use a HELOC for?
A HELOC can be used for a variety of needs, including:
- Home improvements or renovations
- Major expenses like repairs or HVAC replacement
- Debt consolidation
Emergency or planned future expenses
What makes a HELOC different from a traditional loan?
A HELOC lets you borrow as needed instead of taking a lump sum. You can draw from your line of credit, pay it down, and reuse it over time, while only paying interest on what you use.
Can I get a HELOC from a different bank than where I have my mortgage?
Yes, you’re not limited to applying for a HELOC with the lender that holds your current mortgage.
Current APR is 7.250%. Eligible borrowers may receive a 0.50% rate discount, resulting in a 6.750% APR, when monthly HELOC payments are automatically deducted from a qualifying American Bank & Trust checking account. An American Bank & Trust checking account and enrollment in automatic payments are required to receive the discount. If automatic payments are discontinued or the qualifying checking account is closed, the discount will be removed and the interest rate will increase. The discount is subject to the loan’s minimum APR floor of 5.000%; therefore, not all borrowers may receive the full 0.50% rate reduction.
Balloon payment may be applicable to this loan. Balloon payment may result if only the minimum monthly payments are made. Example: $75,000 HELOC – balloon payment of $75,421.88 due at the end of 5 years. Finance charge of $500 processing fee. $25.00 annual fee applies. Other fees imposed for opening the HELOC include appraisal, title examination and search, and recording fees. This line has a variable-rate feature, and the Annual Percentage Rate (APR) and minimum payment can change as a result of this feature. The minimum APR that can apply under the variable-rate feature is 5.000%. The maximum APR that can apply under the variable-rate feature is 19.00%. The APR includes only interest and no other costs. The variable APR is based on the Prime Rate published in The Wall Street Journal plus a margin. Subject to credit approval and acceptable collateral. Property insurance required. Consult your tax advisor regarding potential tax benefits. Rates, terms, and fees are subject to change without notice. NMLS #774689
