Home Equity Line of Credit

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Home Equity Line of Credit


Equity lines allow homeowners flexible access to cash based on the equity in a primary or second home. This can be especially useful when cash is needed for large purchases, renovations, short-term cash flow needs, or emergencies. Having the line of credit available on a moment’s notice is a significant convenience: borrow what you need, pay it back over time, and borrow again when needed.

Paragon Bank clients have access to several Home Equity Line of Credit benefits:

  • Up to 90% Financing
    Qualified clients are eligible for 90% loan to value financing with a primary residence.
  • No Surprises or Hassles
    Straightforward simplicity without “strings” attached:
    –   No minimum draw requirement
    –   No draw period limitations
    –   No “special offer” pricing increases
  • Relationship Pricing1 (available on lines of $150,000 or more)
    Clients who have a Paragon Crystal Checking account with a minimum $10,000 balance benefit from:
    –   Preferred rates 
    –   Up to $500 closing cost allowance
    –   No origination fee
    –   No minimum “floor” rate




1Relationship Pricing requires a Paragon Bank Crystal Checking account relationship with $10,000 minimum balance prior to loan closing, from which equity line payments will be automatically drafted.

The Annual Percentage Rate (APR) for this line is based on Prime Rate as published in The Wall Street Journal (3.50% as of 03/14/2016). The variable rate will not exceed 16.00% APR. Equity loans and lines are subject to credit and property approval. You must pay certain fees to third parties such as appraisers, credit reporting firms, title search firms, and government agencies. Third party fees generally total between $64 and $3,500. Appropriate property insurance is required. Rates, terms, and conditions are subject to change without notice.