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The AIG Bank Home Equity Line of Credit

AIG Bank makes it easy to get the cash you need for home improvements, big-ticket items, or major life events - whenever you need it.

The AIG Bank Home Equity Line of Credit features some of the most competitive rates in the nation and a no closing cost option2. In many cases, the interest you pay is tax deductible.* And unlike many other home equity loans and mortgages, you pay no application fee.

A home equity line of credit, also called a HELOC, is a smart way to pay for important expenses large and small. Some homeowners use a home equity line of credit instead of a traditional first mortgage to give them flexibility and control over how they pay down their home loan. You can even use it to pay off your high-interest credit cards or other high interest loans.

The AIG Bank Home Equity Line of Credit allows you to borrow as much or as little as you need up to your available credit line. You may draw money at closing to pay off existing loans or deposit into your bank account and shortly after closing you will receive a book of checks that you can use. Simply write a check for the amount you need, when you need it. If you prefer, you can transfer cash directly into your bank account. Either way you will only make payments on your outstanding balance.

A home equity line of credit from AIG Bank with no closing costs is easy to use…and easy to open. To learn more, speak with one of our dedicated loan specialists or complete an online rate request form.


*Consult your tax advisor regarding the deductibility of interest.

2No Closing Cost Option:  AIG Bank will provide a credit for all closing costs for a Home Equity Line of Credit when the qualified borrower selects the No Closing Cost Option.  The maximum Home Equity line amount to qualify for the No Closing Cost Option is $200,000 for first liens and $100,000 for second liens.  The maximum combined-loan-to-value ratio to quality for the No Closing Cost Option is 70%.  Borrowers must draw or transfer a balance of $25,000 or more at closing for the No Closing Cost Option to apply.  The No Closing Cost Option is not available for purchase transactions.  AIG Bank will provide the appraisal company, title company, and any other third parties needed to close the loan.  All other terms and conditions of AIG Bank Home Equity Lines of Credit apply.  Program may change at any time without notice.  The No Closing Cost Option may not be used with any other AIG Bank closing cost credit or promotion and is not available in the following States: AK, FL, HI, MI, NY, OH, and TX.

3HELOC Closing Cost Credit Option:  For qualified borrowers who do not select  or do not qualify for the No Closing Cost Option2, AIG Bank will provide a credit up to $1,000 at closing to offset closing costs for a Home Equity Line of Credit in second lien position or up to a $2,000 credit for first liens. An appraisal fee and credit report fee will be collected at time of application.  The appraisal fee and credit report fee are non-refundable if a borrower does not close their Home Equity Line of Credit with AIG Bank.  All other terms and conditions of AIG Bank Home Equity Lines of Credit apply.  Program may change at any time without notice.  The HELOC Closing Cost Credit Option may not be used with any other AIG Bank closing cost credit or promotion.