Home Equity Loans

A woman drinking coffee in a bright new kitchen with large windows. A home-equity loan or line of credit can help you save money, improve cash flow or even prepare you for the unexpected.Your Home Equity Loan. Sandy Spring Bank Home Equity Loans.

Use the equity in your home to make home improvements, pay college tuition, consolidate your debts, go on a dream vacation, or purchase a new car. Whatever your need, our Personal Bankers can help you select the best Sandy Spring home equity product to meet your borrowing needs.

Home Equity Loan 

A Home Equity Loanis a fixed term loan secured by your primary residence designed to help with one time needs, such as a home renovation, debt consolidation, or any other major purchase.

Benefits include:

  • Minimal costs and fees2
  • Fixed monthly payments
  • Terms up to 20 years
  • A 0.25% interest rate discount is available for automated payments set up from a Sandy Spring checking at loan origination.
  • Compare Home Equity Lines and Loans

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Equity Reserve Line of Credit 

A Sandy Spring Bank Home-Equity Reserve Line of Credit3 is flexible with great rates and allows you to borrow funds at any time, up to your available credit limit. Secured by your primary residence, it’s great for home improvements, tuition or education costs, or unplanned expenses.

Benefits include:

  • Convenient and easy access to available funds
  • Lower interest rates than many other types of credit
  • No origination or annual fees4
  • Low, interest-only payments can make monthly payments more affordable for qualified borrowers
  • Overdraft protection, linked to your home equity line of credit, helps to avoid overdraft fees
  • Compare Home Equity Lines and Loans

Apply Now

View our Fair Lending Policy statement.

Rates and Terms subject to change without notice. Other rates and terms available. Adequate property insurance required. All lines/loans subject to credit approval. Please consult your tax advisor regarding tax deductibility.

  • Disclosure

    Home Equity Loan
    1Annual Percentage Rate (APR) of 5.04% as of 3/23/2020. Rate quoted is for 1-4 family, owner-occupied residence. Rate assumes a 0.25% discount for automatic debit from a Sandy Spring Bank checking account on a loan of $20,000 or more with an LTV of 70% or less and a 1- to 5-year term. Monthly payment per $1,000 borrowed for 5 years is $18.89.

    2To open an account, you must pay certain fees to third parties such as appraisers, credit reporting firms, and government agencies (closing costs).These third party fees generally total between $540.00 and $1,400.00 for a $50,000 line of credit. We will pay all closing costs on your behalf at closing WITH THE EXCEPTION OF ANY APPLICABLE TRANSFER TAXES AT CLOSING. You will reimburse us for the closing costs we pay if the loan is terminated (by you or us) during the first 3 years.

    Home Equity Reserve Line of Credit
    3Introductory rate of 2.49% Annual Percentage Rate (APR) applies to accounts signed up for automatic payment from a Sandy Spring Bank checking account. The introductory rate is only available to new borrowers on qualified new home equity lines of credit. Only one introductory rate offer is available per customer. Prior Sandy Spring Bank home equity line customers, increases to existing home equity lines and refinances of existing Sandy Spring Bank debt are not eligible for this offer. After the 12-month introductory period a Standard Rate applies for the remaining life of the line.  Standard Rates may vary and are based on changes in, the highest prime rate published in The Wall Street Journal’s “Money Rates” section on the first business day of every month. Currently standard rates range from 3.25% APR to 7.50% APR (Prime plus 4.25%) and are based upon credit qualifications, loan-to-value ratio and approved credit limit. The featured Standard Rate is available to well qualified borrowers with an approved credit line of $125,000 or more, a loan-to-value ratio of 70% or less, and having monthly payments automatically deducted from a Sandy Spring Bank checking account. Maximum APR is 24%. Subject to credit approval. Other rates and terms are available. APR as of 3/23/2020. Offer subject to change and cancellation without notice. Adequate property insurance is required. Rates quoted are for 1-4 family, owner-occupied residences. Closing costs are not waived for purchase transactions.

    4To open an account, you must pay certain fees to third parties such as appraisers, credit reporting firms, and government agencies (closing costs). These third party fees generally total between $540.00 and $1,400.00 for a $50,000 line of credit. Closing Cost Payment (Security Interest Charges). We will pay your closing costs, up to $5,000. You must pay any and all closing costs, including transfer tax that exceed $5,000. You will reimburse us for ALL closing costs that we paid on your behalf to third parties if the Line is terminated by you or us during its first 3 years. Upon request, we will provide you with an itemization of these closing costs.