Home Equity Banner

Home Equity Access Line

Whether it's making those home improvements you've been dreaming about, investing in your child's future, or consolidating debt at a lower rate, with a Home Equity Access Line of Credit from Montecito Bank & Trust you'll have the peace of mind that comes with knowing you have a little extra help to handle whatever life brings your way.

Benefits Because the Home Equity Access Line is secured by real estate, the rate is usually more advantageous than other types of loans. And you can give yourself a rate discount by requesting automatic payments from your Montecito Bank & Trust checking account*. Credit approval is required.
Access to funds Check access, online banking transfer or in-branch transfer requests allow you to draw an amount when needed.
Maturity 15-year term
Payments The credit line is interest only during the 15-year term after which you will be required to pay the entire balance owing in a single balloon payment.
Annual Percentage Rate (APR) Rates as low as 3.5% APR*. This is a variable APR indexed to Wall Street Journal Prime plus a margin determined during the credit review process.
Fees No appraisal fees or third party fees on lines of $500,000 or less.  Other fees may apply.**
Fixed Rate Advance Options Available

Apply Now

* The advertised Annual Percentage Rate (APR) reflects a variable rate of The Wall Street Journal Prime Rate (Prime) as of Jun 27 2016, plus a margin of 0.00% for a new application for a Home Equity Access Line of Credit. This APR reflects a .50% rate discount for automatic payments from a Montecito Bank & Trust Access Checking, Private Access Checking, or eChecking account. The APR will be based on Prime plus a margin determined during the credit review process and will vary with Prime but will not exceed 17% or the maximum amount permitted by law, whichever is lower. Margins range from 0.50% to 1.50%. APRs range from 3.50%, which includes a discount of .50% for automatic payments, to 5.00%, which has no automatic payment discount applied. Margin, rate and payment amount may vary based on property value, loan amount and other factors. Subject to credit and property approval, your APR may be higher. Rates and APRs subject to change without notice. Line amounts range from $25,000 to $2,000,000. Property Insurance is always required and flood insurance is required where necessary..

** There is a $25 fee for transactions that exceed the credit limit. If the credit line is closed within 36 months of opening, a $500 early closure fee may be assessed. Third party fees generally total between $0.00 and $5,350.00 and will be charged to the borrower for credit lines above $500,000.00 with a $1,000 bank credit to be applied towards the total third party fees incurred in connection with the opening of the Home Equity Access Line of Credit.