The Advantage Home Equity Line of Credit

Quickly and easily access the equity in your home.

Experience the Advantage

What is the Advantage Home Equity Line of Credit (HELOC)?

Designed for Fairfield County homeowners, Fairfield County Bank's Advantage HELOC is secured against the value of the equity you've worked so hard to build in your home.  It is a revolving line of credit that provides you the opportunity to use a portion of your home's equity now or when you need it.

Why choose Fairfield County Bank's Advantage HELOC?

Take Advantage of flexible & convenient benefits & an exclusive rate discount*

Designed for You

 

  • Borrow only what you need up to your credit limit    

  • $25,000 - $300,000 credit limits available

  • Up to 5 years to use funds

  • Interest-only payment option during your draw period

  • Up to 20 years to repay the amount you used

  • 75% Maximum Total Loan-to-Value (LTV)**

**The first mortgage cannot exceed the following:

Single Family Residences: $800,000.00

Condominiums: $500,000.00

*Competitive Rate

& Exclusive Rate Reduction Option

 

  • Variable rates starting at Prime (7.50%) +.50%

    • Current Interest Rate/APR: 8.00%

  • Take advantage of a .50% rate reduction as a valued Fairfield County Bank client! 

Condominium Acceptability

  • Financing available for minimum of 11 units or greater    

  • Owner Occupancy ratio of 75% of total units must be owner-occupied

  • Maximum Fairfield County Bank exposure to complex is 10% of total unit size

  • We may require a current Condominium Questionnaire from you, at your expense, to obtain from your Homeowners Association Management Group.  Please refer to the Important Notices & Credit Closing Fees for estimated costs.

Access Your Funds 

(Minimum Draw $500.00)

Transfer funds from your HELOC into your personal Fairfield County Bank checking account through online banking, mobile banking, at our ATMs or any Fairfield County Bank branch office location.

+What else should I know before applying?

Click or tap below to learn more

How do I apply for the Advantage HELOC?

Easily & securely complete your online application with the support of a local banker.

Resources

(click or tap below to learn more about HELOCs)

Access Fairfield County Bank's Financial Wellness Platform:

What is a HELOC?

HELOC Estimation Calculator

Advantage Home Equity Line of Credit (HELOC) is valid on lines of credit of $25,000 to $300,000.  The advertised rate is a variable rate equal to Prime (as published in the Wall Street Journal) plus a margin of .50%.  $500 minimum draw is required.  A 0.50% discount is available to borrowers who have an automatic loan payment set up from a checking account or savings account maintained at Fairfield County Bank.  The draw period is 5 years and the repayment period is 20 years.  All loan approvals are subject to Fairfield County Bank current lending guidelines; loan amount and property value; credit worthiness and underwriting.  Property must be a primary residence and is only available for properties in the Western Connecticut and Greater Bridgeport Connecticut Regions.  Property insurance is required.  For first mortgage HELOC, Settlement/Title charges $2,200 - $5,000 apply.  Processing fee is $150.00. Annual fee to maintain the HELOC is $75 per year and paid in the anniversary month of the agreement each year.  Early termination fee of $1,000 applies if the HELOC is closed within the first three years.  Annual Percentage Rate (APR) as of 1-9-2025 is 8.00%. Maximum lifetime APR is 18.00%.  An annual “non-usage fee” of $100 will be charged if the line of credit is not utilized in each twelve (12) month period measured from the date of the Agreement. Offer is subject to change and can be withdrawn without notice.