Your home equity can work for you - on your terms, when you need it.
How it works
Interest-Only HELOC vs Home Equity Loan Calculator
*Calculator results are estimates only and are based on the example terms and disclosures provided. They are not a commitment to lend. Actual loan terms, interest rates, fees, and payments are subject to change and will be determined based on a full credit evaluation and lender requirements. Contact us directly for accurate payment estimates for loans with short-term promotional rates.
Flexible Uses
Remodels or Upgrades
Whether you’re updating your old kitchen, creating a spa‑like bathroom or opening up your living space, having access to funds lets you move forward when inspiration strikes and handle costs as they come up.
Home Repairs
When you own a home, wear and tear is inevitable, and things can break unexpectedly. Having accessible funds makes it easier to handle repairs like fixing a leaky roof, replacing a burned‑out air conditioning unit or addressing plumbing and electrical issues without delay.
Debt Consolidation
Help simplify your finances and reduce monthly stress by combining higher‑interest debts into one manageable payment. You can stay organized, save on interest over time and focus on making steady progress toward being debt‑free.
Emergency Funds
Sometimes life throws you a curveball. Having readily available funds can make those moments easier to handle, helping you cover critical costs quickly and reduce stress when it matters most.
Large Expenses
Whether it’s a wedding, a family vacation or a down payment on a car, having available funds gives you the flexibility to move forward with confidence and focus on the moments and purchases that matter most.
Home Equity Term Loan
Disclosures
1Interest-Only Home Equity Line of Credit - The promotional rate of 3.99% is valid for the first six (6) months of the loan only. After the six-month promotional period, the Annual Percentage Rate (APR) during the revolving period will be variable and will range from 0.25% below the Wall Street Journal (WSJ) Prime Rate to 1.25% above the WSJ Prime Rate, subject to a minimum APR (floor) of 3.99% and a maximum APR of 21%. The APR offered is based on the client’s credit characteristics, Loan-To-Value (LTV), and collateral. The term is 10 years, and the loan amount must be $10,000 or greater. Available to owner-occupied primary residences only. Current appraisal and property insurance are required, including flood insurance when applicable. The client pays all fees and costs. A one-time $199 loan documentation fee applies, and all fees may be financed. The maximum loan amount ranges from 70% to 85% of the home’s value based on the amount borrowed. There is no down payment required. The minimum monthly payment is the interest accrued each month. Interest-only payments will result in a balloon payment of the remaining loan balance at the end of the loan term. Loan example: A $40,000 loan balance with a 10-year term (120 months) and an APR of 6.50% has a minimum monthly payment of $213.90. Credit and collateral are subject to approval. Other terms and conditions may apply. This is not a commitment to lend. All rates, terms, and conditions are subject to change without notice. The Introductory Period begins on the date of account opening. No other discounts are available during the Introductory Period. Offer available only in Arizona, Colorado, and Oklahoma. This offer starts on April 1, 2026, and ends on August 28, 2026.
2Home Equity Loan - The promotional rate of 3.99% is valid for the first six (6) months of the loan only. After the six-month promotional period, the Annual Percentage Rate (APR) is fixed. The APR offered is based on the client’s credit characteristics, loan term, and Loan-To-Value (LTV). The loan amount must be $10,000 or greater. Current appraisal and property insurance are required, including flood insurance when applicable. The client pays all fees and costs. A one-time $199 loan documentation fee applies, and all fees may be financed. The maximum loan amount is 85% of the home’s value based on the amount borrowed. There is no down payment required. The minimum monthly payment varies by loan term and APR. Loan example: A $25,000 original loan balance with a 10-year term (120 months) and an APR of 9.579% has a minimum monthly payment of $324.58. Credit and collateral are subject to approval. Other terms and conditions may apply. This is not a commitment to lend. All rates, terms, and conditions are subject to change without notice. The Introductory Period begins on the date of account opening. No other discounts are available during the Introductory Period. Offer available only in Arizona, Colorado, and Oklahoma. The offer starts on April 1, 2026, and ends on August 28, 2026
Frequently Asked Questions
What is equity?
Equity is the difference between what a customer’s home is worth and what they still owe on their mortgage. Equity builds over time as the mortgage balance is paid down and home values increase.
What is an Interest-Only HELOC?
An Interest‑Only HELOC is a revolving line of credit where the required monthly payment during the draw period is based on interest only. Customers may choose to pay more than the minimum at any time.
How much can I borrow?
The loan amount must be $10,000 or greater. Maximum loan amounts range from 60%-85% of the home’s value based on the amount borrowed.
What are Interest-Only HELOCs best used for?
Interest‑Only HELOCs work best for customers who:
- Want flexible access to funds over time
- Do not need all funds at once
- Prefer not to refinance their current mortgage
- Have owned and lived in their home for 5+ years
Common uses include:
- Home improvements or repairs
- Projects completed in phases
- Debt consolidation
- Planned or ongoing expenses
How does a HELOC compare to a Home Equity Term Loan?
Both products use home equity, but they serve different needs:
- A HELOC provides ongoing, reusable access to funds as needed.
- A Home Equity Term Loan provides a one‑time lump sum with a fixed repayment schedule.
A HELOC is typically a better fit when flexibility is needed, while a term loan may be better for a single, defined expense.
What makes FFB’s HELOC different?
- Personal guidance from local bankers
- Flexible access to your equity
- A trusted community bank relationship
When does interest start?
Interest begins only when you use funds from your line of credit.
How do I apply for a HELOC at FFB?
You can get started by completing the short contact form above or visiting a local FFB branch, where a banker will guide you through next steps.
Who will contact me after I submit the form?
A local FFB banker will reach out to answer questions, review eligibility and help you move forward.
Why can’t I apply fully online yet?
We’re continuing to enhance our digital experience. For now, working directly with a banker helps ensure accuracy and personalized guidance.