Wells Fargo, Bank of America, PNC Bank Home Equity Line of Credit Rates Today

Wells Fargo (NYSE:WFC) is offering a home equity line of credit (HELOC) of $50,000 for a fixed rate of 6.365%APR over 5 years with a monthly payment of $265.  They also are offering a variable rate line of credit at 4.74%APR over a 10 year term with monthly payments of $198.

Bank of America (NYSE:BAC) is offering an APR of 4.37% on the same loan of $50,000 over a 10 year draw period with monthly payments of $180.

An APR as low as 2.99% is offered by PNC Bank (NYSE:PNC)today for lines of over $100,000.

These rates are quoted for the State of Indiana on a home worth $200,000 with a remaining loan balance of $80,000 and excellent credit rating.

There are many banks willing to offer a line of credit so one should shop around.  Other possible banks in Indiana were Fifth Third Bank of 4.25%APR ($310/month), 1^st Source Bank at 4.5%APR ($351/month), Key Bank at 3.99%APR ($238/month) and M & I Bank at 4.5%APR ($518/month).

Nationwide has an APR of 4.25% and Pentagon Federal Credit Union is at 3.75%APR.

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3. Current Citibank and PNC Bank Mortgage Interest Rates Today