Home Equity Line of Credit

It’s your home, your equity—and with Webster’s Line of Credit, it’s your choice how and when you want to use it.

  • Fast Facts
  • Offers 10 yr draw/20 yr repayment
  • Enjoy low or no closing costs*
  • Access funds easily

Our Home Equity lines come with Webster’s renowned personal service and a guarantee that you’ll get your cash fast. In fact we guarantee to be ready to close your equity loan or line with 7 days or we’ll pay you up to $250.1

Home Equity Line of Credit

Choose a Home Equity Line of Credit and you’ll have access to a set amount of credit – known as a line of credit. You decide when and how much you want to withdrawal from your line. Up to your available limit. You only pay interest on what you actually borrow, not the entire line of credit. You’ll have 10 years to draw on your line and then up to 20 years to repay whatever you've used.

A line of credit provides:

  • Credit Lines from $10,000 to $500,000* with a competitive variable rate
  • Flexible access to money when you need it
  • Low to no closing costs on credit lines up to $500,000*
  • No annual fees with a Premier Checking Account*
  • The option of a fixed-interest rate, payment, and term for all or part of your Line of Credit balance
  • Constant access to your Line of Credit with Online Banking – easily transfer funds to your Webster checking account
  • Convenient Check access for amounts up to available credit limit
  • 0.25% rate discount with automatic payments from your personal Webster checking account*

Popular uses for Home Equity Lines of Credit:


All lines of credit are subject to credit approval.
1 Program Overview: Webster Bank guarantees to be ready to close a new Home Equity Line of Credit within 7 days, excluding Saturday, Sunday and Federal Holidays from the date of receiving a “completed application” by an applicant(s). Should 7 days be exceeded, Webster will pay the applicant $50 for every day beyond 7 up to a total maximum of $250. When an application includes more than one applicant, the total maximum is $250. Refer to additional important information contained below. Only closed and funded home equity lines and loans qualify for the Guarantee.
Completed Application: A 'completed application' is defined as an oral or written request for credit in which Webster received all "required information and documentation" to evaluate the application for the amount and type of credit requested.
Required Information and Documentation: In addition to the oral or written request for credit, required information and documentation from the applicant(s) includes but is not limited to: income pay stubs, W-2 statements, tax returns, any other type of verification necessary to substantiate income, asset verification, title verification and any other additional information requested by Webster. Failure to provide the required information and documentation with the initial completed application will cause a delay in the 7-Day Guarantee process. The applicant(s) is responsible for providing the required information and documentation to Webster for meeting the requirements of a completed application. Any delays due to an incomplete application are not covered in the 7-Day Guarantee. The 7-Day Guarantee does not cover delays caused by third parties delivering required documentation on behalf of the applicant(s).
Additional Important Eligibility Information: To be eligible for the 7-Day Guarantee, the application must be for a home equity line or loan owner-occupied one-to-two family and must be approved and closed. Additional exclusions include loan amounts over $250,000 in states except New York; loan amounts over $150,000 in New York; properties requiring a full appraisal report; loans closing in trusts; loans closing with a power of attorney; home equity loans or lines closed simultaneously with a first mortgage loan; equity line increases for existing Webster owned equity lines; refinancing a mortgage, equity loan or equity line owned by Webster in New York.
Ready to Close Notification: the applicant can be notified by phone or voice mail message of Webster’s readiness to close. When an application includes more than one applicant, only one applicant will be notified. Any delays after being notified are not covered in the 7-Day Guarantee.

This offer may be withdrawn at any time without notice.

* Lines over $500,000 are considered on a case-by-case basis. This is a variable rate product and rates are subject to change without notice. The final rate will be determined based on credit qualifications, loan amount, combined loan to value, state where property is located, and a Webster banking relationship. The maximum APR that can apply is 21%. No closing costs for home equity lines of credit up to $500,000 that are secured by 1-4 family, owner-occupied residences. Hazard insurance is required. Certain prepayment penalties may apply if the line is closed within the first three years.
Prepayment Fees
Year 1 – 2% of the Home Equity Line of Credit outstanding balance.
Year 2 – 2% of the Home Equity Line of Credit outstanding balance.
Year 3 – 1% of the Home Equity Line of Credit outstanding balance.
Customers have the option of buying out the prepayment fee for Home Equity Lines of Credit if they agree to an increase of .25% to their rate (.50% in NY).
There is no annual fee for borrowers with a Webster Premier Checking Account relationship. Annual fee for other account relationships is $50 per year. If you make interest only payments during the draw period, then at the start of the repayment period, your monthly payment will increase because you must now pay back the principal as well as interest. Customers who sign up for an Automatic Loan Payment (ACH) from their Webster Personal Checking Account are eligible to receive a rate discount on Home Equity Lines. If the ACH is terminated for any reason, Your rate will increase by the amount of the discount initially given. Offers may not be combined with any other promotional offer. This offer is subject to change without notice.
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