Home Equity

Unlock The Equity In Your Home.

Your home is more than an investment - it's a source of great financial security. Tap into your  home's equity with a line of credit or loan. Unlike personal loans or credit cards, the interest on your home equity line or loan may be fully tax deductible; consult your tax advisor. 

Loans and Lines

Our loans and lines of credit offer competitive rates, flexible terms, and your choice of monthly due dates.

 

Home Equity Line of Credit1,2

Introductory Rate Offer for our Home Equity Line:

2.99% introductory APR for the first 12 months after opening, then as low as 3.99% variable APR thereafter1,2

 

If you find yourself needing to borrow money often, a revolving line of credit can be a fast, convenient way to get the money you need. With a home equity line, you can borrow now and in the future without having to reapply. It’s a great option for home improvements, education expenses and other recurring needs.

Features include:

  • Borrow up to 80% loan-to-value in Mississippi, Alabama, Florida and Louisiana, and in Texas2
  • Little to no closing costs3 and no annual fee2.
  • Access to your line through Online Banking. Check your balance, available credit and transfer funds directly to your Hancock Whitney personal checking account4
  • Fixed-rate option5 available on all or a part of your line for a predictable monthly payment and protection from rising interest rates.
  • Your interest may be tax deductible. Please always consult a tax adviser for tax questions that pertain to your personal circumstances.

Home Equity Loan2

A fixed-rate home equity loan is the perfect solution for a major purchase, remodeling or to consolidate high-interest debt. Lock in a low rate and get a fixed, predictable payment that makes budgeting a breeze.

Features include:

  • Little to no closing costs for loans of $250,000 or less2
  • Fixed-rate terms and equal payments
  • Borrow up to 90% loan-to-value in Mississippi, Alabama, Florida, and Louisiana, and up to 80% in Texas2

Not sure which option is right for you?

Help me decide

1Offer limited to new Home Equity Lines, not available on refinancing of existing Hancock Whitney Bank home equity line of credit or home equity loan.  The introductory rate for the Home Equity Line of Credit is available for the first twelve (12) full calendar months after your line is established. The introductory offer may not be combined with any other discounts and may be wthdrawn at any time.

2Following the introductory period, the Home Equity Line annual percentage rate (APR) is based on The Wall Street Journal Prime Rate (the “Index”) plus a margin ranging between 0.25% and 3.85%. As of 6/8/2020, APRs range from 3.99% to 8.10%. The APR will vary but not result in an APR less than 3.99% or exceed 21% in AL, MS or LA or 18% in FL or TX. Based on the 6/8/2020 Index value of 3.25% and typical margin of 0.65%, the formula for subsequent monthly rate adjustments results in a current APR of 3.99%. Repayment options vary based on creditworthiness, loan-to-value percentages, whether the mortgage securing your line is a first or second mortgage and other factors. There is no annual fee.

The Home Equity Loan offers a fixed rate for up to 15 years. APRs vary and currently range from 4.74% to 9.74%. For example, a typical loan of $50,000 at a 6.64% APR for 15 years would result in a monthly payment of $439.36. Your APR may differ based on your term and creditworthiness. See a banker for details.

Home Equity Lines  require a mortgage on an owner-occupied 1-4 family dwelling with a minimum lendable equity of $10,000 and a maximum loan-to-value of up to 80% in Texas3, Mississippi, Alabama, Florida and Louisiana. Property insurance is required. Rescission rights may temporarily restrict availability of funds. See a banker for details.

Home Equity Loans  require a mortgage on an owner-occupied 1-4 family dwelling with a minimum lendable equity of $10,000 and a maximum loan-to-value of up to 80% in Texas3, and up to 90% in Mississippi, Alabama, Florida and Louisiana. Property insurance is required. Rescission rights may temporarily restrict availability of funds. See a banker for details.

3The Bank pays closing costs on home equity loans and home equity lines of $250,000 or less and up to $500 in closing costs for lines over $250,000.  Closing costs typically range between $0 and $3,600. We will not pay any portion of the Alabama Mortgage Recording Tax, the Florida Intangible Personal Property Tax, the Florida Documentary Stamp Tax, the Orleans Parish Documentary Tax (where those taxes may be applicable and vary with the loan amount), or the Survey Fee. Clients have the option to pay closing costs on lines under $250,000 and receive a 0.50% rate discount on the regular non-promotional rate.

If you voluntarily cancel your Home Equity Line of Credit within 12 months of opening, you will reimburse to us the non-affiliated third-party closing costs we paid, up to 2% of your credit limit. In Mississippi and Louisiana only, you will reimburse the lesser of (i) 2% of your credit limit or (ii) 5% of the unpaid principal balance of your line at the time you cancel. No obligation to repay closing costs will apply in Texas. Additionally, no obligation to repay closing costs will apply if the source of the prepayment funds is a refinancing by us or an affiliate of ours or if the prepayment occurs more than one year from the date the loan is made.

In Louisiana, Alabama, Mississippi and Florida, if you voluntarily repay your Home Equity Loan in full within one year from the date you make the loan, you will be required to reimburse to us any reasonable, bonafide third-party costs that were waived at consummation and paid by us on your behalf. However, in Louisiana and Mississippi, in no event will the amount of closing costs that you repay to us exceed 5% of the unpaid principal balance of the loan at the time of prepayment in full. No obligation to repay closing costs will apply if the source of the prepayment funds is a refinancing by us or an affiliate of ours or if the prepayment occurs more than one year from the date the loan is made.

Important Information for Texas Residents: Texas laws impose certain restrictions on loans and lines secured by a lien on your home. In Texas, each individual advance from your line of credit must be in an amount of at least $4,000. The maximum amount of your new home equity line or loan, when combined with the dollar amount of all other liens on your home, may not exceed 80% of the fair market value of your home on the date your home equity line or loan is made. Only one home equity line or loan is allowed on the home at a time and no more than one home equity line or loan may be made on the home within a 12-calendar month period. Other restrictions apply. See a banker for details.

Overdraft option and check access not available in Texas.

4Line of Credit transfers made in personal online banking require the SSN/TIN to match for both the Line of Credit Account and the Checking Account to which the money is being transferred, and limited to a maximum of 3 advances per day. All transfers are subject to certain terms and conditions, including, any requirements or limitations imposed by the Online Banking Agreement, your credit line agreement, and/or applicable law. See a banker for details.

5When using the fixed-rate option, there is a $5,000 minimum amount and $50 fee for each take down. You can have up to four take downs outstanding at any time. Other terms and conditions apply. See a banker for details.