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Home equity is the difference between what you currently owe on your home and its appraised value in the current market. For example, if your home appraised for $150,000 and you owe $65,000, you would have $85,000 in home equity. A portion of your equity may be available for you to borrow with a home equity line of credit (we call that portion, Lendable Equity).
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How Does It Work?

Quail Creek Bank’s 1% HELOC Product is secured by your personal residence and gives you a 7-year draw period that allows you to use as much as you need, up to your approved credit limit. As you repay the principal balance, your available credit is replenished, and you can borrow against it again, as needed.
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Interest Rate

The Periodic Rate and Corresponding Annual Percentage Rate is determined as follows: We use an independent index known as the Wall Street Prime Rate as published in the Wall Street Journal. Adjustments to the Periodic Rate and the corresponding Annual Percentage Rate resulting from changes in the Index will adjust annually. The floor rate is 4.50% on the 1% HELOC Product.
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How Long Does It Take?

The turn-around time from application to closing is typically two weeks, one of the quickest times among our bank peers.

How Much Can I Borrow? (1% HELOC Product)

Combined 1st and 2nd Mortgage Loan Amount Max LTV
Up to $500,000 80%
$500,001 - $1,000,000 70%
$1,000,001 & Greater 60%


Appraised Value $150,000 x 80% = $120,000.00
Less 1st Mortgage Balance $65,000.00
Available Lendable Equity $55,000.00
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Stephanie Mills

Vice President
Consumer Lending
Apply Online Now!

Call Stephanie for more details! 405.242.2843