8.25% APR is based on a 180 month equity loan with 80.0% or less loan-to-value, 720+ FICO score, a $50,000 minimum loan amount and monthly payments of $9.70 per $1,000 borrowed. Rates subject to change, which also could affect the amount of your monthly payments. For all products, some restrictions apply based on loan amount, credit, loan-to-value, and additional factors. Ask your loan officer about our other rates and terms for loan amounts from $15,000 to $250,000. All loans subject to credit approval. Consult your tax advisor regarding the deductibility of interest and charges. Property insurance and flood insurance (if required) must be in effect on the property securing the loan.
Costs of Consolidation
By using a Home Equity Line of Credit or Home Equity Loan to consolidate your debt ("Debt Consolidation Loan"), generally your monthly payments will be reduced. In some cases, the Debt Consolidation Loan may result in an increase in the total amount paid by you over the term of the Debt Consolidation Loan. The monthly payment savings represents an initial monthly payment savings that will reduce over time if the loan term on any of the consolidated debt is shorter than the loan term of the debt consolidation loan. Before refinancing any debt, you should consider all factors, including the costs of refinancing as compared to the benefits.
APRs
The annual percentage rate (APR) is the cost of credit over the term of the line or loan expressed as an annual rate. The APRs shown here are based on interest rates only and do not take into account other line- or loan- specific finance charges you may be required to pay. APRs on other First Horizon Home Equity Lines of Credit and Home Equity Loans will vary based on creditworthiness, property type, loan-to-value ratio, and additional factors. The rates and terms described herein are for home equity lines and loans initiated through this website as rates and terms may be different if you choose to apply in person.
8.00% variable APR is based on an 80.0% or less loan-to-value Home Equity Line of Credit, with FICO score of 750+, and a minimum loan amount of $50,000. Your Annual Percentage Rate can adjust monthly and is based on the Prime Rate published in the "Money Rates" section of The Wall Street Journal. Your interest rate would be Prime +.25%. Prime is currently 7.75% as of 09/21/07. Your rate can never exceed 21% APR (18% in Texas). Ask your loan officer about our rates and terms for loan amounts less than $50,000 and about the low rates and terms available with our other credit line options. All credit lines subject to credit approval. Some restrictions apply. Rates subject to change. All lines subject to a $50 annual fee and mortgage tax and attorney's closing fees ranging from $0 to $500, depending on the size of your loan, the state in which the property is located, and other factors. A $250 early account closure fee may be collected from borrowers who pay and terminate their lines within 24 months after opening for reasons other than casualty loss or refinance with First Horizon. Consult your tax advisor regarding the deductibility of interest and charges. Property insurance and flood insurance (if required) must be in effect on the property securing the line of credit. Credit card access not available in Texas, Connecticut, or New York. Home Equity Line of Credit proceeds may not be used for home improvement/renovation projects requiring a construction permit in New York. Home Equity Line of Credit products are not available in Alaska and cannot be applied for online for properties in Hawaii or Texas. To apply for a Home Equity Line of Credit for a property located in Hawaii or Texas, please visit a financial center in one of those states or call (808) 599-2870 for Hawaii or (866) 849-8111 for Texas.
Texas homestead properties only
Maximum combined loan-to-value must be 80% or less with a maximum credit limit of 50% of your home's value. Max APR is 18%. Minimum advance on Texas Home Equity Line of Credit is $4,000. All lines subject to up to 4% discount points. Closing costs are limited by Texas law to 3% of line amount.