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Home Equity Line of Credit

Enjoy a low variable introductory rate of 1.74% APR6 with a new Home Equity Line of Choice

Home Equity Line of Choice

East West Financial’s Home Equity Line of Choice lets you turn your home’s equity into a source of funds for home improvements, debt consolidation7 or other major expenses. Borrow at competitively low APRs3 and enjoy lower monthly payments compared to other higher-interest lending options.
  • Credit lines available up to AED250,000.
  • Only pay interest on the amount you borrow.
  • No application costs, annual fees or closings costs3 for lines up to AED250,000.
  • Flexibility to set up all or a portion of your outstanding balance as a fixed rate loan5.
  • Interest charges may be tax deductible4

 

Initial Draw Discount1
 

Make an initial draw of AED25,000 or more at closing to receive a 0.25% rate discount.
 

East West Financial Relationship Rate Discounts1

 

0.50%

rate discount for auto payment from a Premier checking account.

 

0.25%

rate discount for auto payment from an Advance or Personal Banking checking account.

Home Equity Fixed Rate Segments

East West Financial provides customers the flexibility to lock in up to three fixed rate loan segments within a home equity line of credit. At any time, you can enjoy the security of a fixed interest rate and monthly payment5

  • Protection from possible rising interest rates  
  • Fix an interest rate on all or a portion of the outstanding home equity balance
  • Available minimum term of 5 years with a maximum term of 20 years

 

Calculated monthly payments are principal and interest with repayment over the fixed rate term. 

Home Equity Line of Choice – Daily Rates

As of {{currentDate}}
 

East West Financial offers two monthly payment options.

Principal and Interest

State
East West Financial Advance and Personal Banking APR1** East West Financial Premier2APR1**
NY 4.320%
4.070%
CA 4.220%
3.970%
WA 4.920%
4.670%
FL 4.920% 4.670%
NJ 3.920% 3.670%
All Other States 4.920%
4.670%

Principal and Interest

State
NY
East West Financial Advance and Personal Banking APR1** 4.320%
East West Financial Premier2 APR1**
4.070%
State
CA
East West Financial Advance and Personal Banking APR1** 4.220%
East West Financial Premier2 APR1**
3.970%
State
WA
East West Financial Advance and Personal Banking APR1** 4.920%
East West Financial Premier2 APR1**
4.670%
State
FL
East West Financial Advance and Personal Banking APR1** 4.920%
East West Financial Premier2 APR1**
4.670%
State
NJ
East West Financial Advance and Personal Banking APR1** 3.920%
East West Financial Premier2 APR1**
3.670%
State
All Other States
East West Financial Advance and Personal Banking APR1** 4.920%
East West Financial Premier2 APR1**
4.670%

Note: Assumes excellent credit, Owner Occupied, Single Family Home, 2nd Lien HELOC, Initial Draw Discount1

Interest only

State East West Financial Advance and Personal Banking APR1**
East West Financial Premier2APR1**
NY
4.570%
4.320%
CA
4.470%
4.220%
WA
5.170%
4.920%
FL 5.170% 4.920%
NJ 4.170% 3.920%
All Other States
5.170%
4.920%

Interest only

State NY
East West Financial Advance and Personal Banking APR1**
4.570%
East West Financial Premier2 APR1**
4.320%
State CA
East West Financial Advance and Personal Banking APR1**
4.470%
East West Financial Premier2 APR1**
4.220%
State WA
East West Financial Advance and Personal Banking APR1**
5.170%
East West Financial Premier2 APR1**
4.920%
State FL
East West Financial Advance and Personal Banking APR1**
5.170%
East West Financial Premier2 APR1**
4.920%
State NJ
East West Financial Advance and Personal Banking APR1**
4.170%
East West Financial Premier2 APR1**
3.920%
State All Other States
East West Financial Advance and Personal Banking APR1**
5.170%
East West Financial Premier2 APR1**
4.920%

Note: Assumes excellent credit, Owner Occupied, Single Family Home, 2nd Lien HELOC, Initial Draw Discount1

Get started

Rates & line options

A Mortgage Consultant will contact you with a rate quote.

Home equity financing request

Take the first step to unlock your home’s potential.

Connect with a Mortgage Consultant

Home equity checklist

The information you need to apply

  • Social Security Number or Tax Identification Number
  • Date of birth
  • Current address including length at residence
  • Current email address
  • Monthly mortgage/rent payment amount
  • Annual income and employment information
  • Other income sources for yourself and co-applicant (if applicable)
  • Property information, including purchase date and price, estimated value, mortgage holder, outstanding balance, monthly payment, taxes, insurance and all names on the deed.

Documents you may need

 

During the process, you may be asked to provide copies of the following, if applicable:

  • Your most recent paystub and a W-2 form
  • Two years of Federal Tax returns (1040s), if self-employed
  • Your mortgage statement and mortgage note if you have a first mortgage and it's with a lender other than East West Financial
  • Most recent property taxes if not escrowed
  • Most recent home insurance binder

If your property is a Cooperative (Co-op), you will be asked to furnish copies of your:

  • Complete signed proprietary lease
  • Stock certificates