Compare Home Equity Loans & Lines

  Home Equity Loan Home Equity Reserve Line of Credit


A Home Equity Loan1 is an installment loan with a fixed rate and term. It is a great choice if you want set payments and need money for a one-time expense. A home equity loan is great for debt consolidation and large expenses.

An Equity Reserve is a line of credit2 that you can draw on as needed up to your limit. It is great choice if you want access to funds now and ongoing. And, it is a perfect choice for home improvement, education, debt consolidation and for emergencies.

Key Features

The Home Equity Loan comes with a fixed rate loan and equal monthly payments over a specific length of time.

With an Equity Reserve Line of Credit, you have access to available credit now and in the future without having to reapply.

Interest Rate

A fixed annual percentage rate over the term of the loan.

Line of Credit - variable annual percentage rate.

You may also select a fixed rate with a special loan rate lock feature. You can lock in up to three loan segments within your approved credit limit at a fixed rate and fixed term. No additional approvals are necessary.



A .25% discount is available when payments are automatically deducted from your Sandy Spring Bank checking or savings account.

A .25% discount is available when payments are automatically deducted from your Sandy Spring Bank checking or savings account.


Terms available from 5 to 20 years

Line of Credit portion

– 10 year draw period

– 30 year repayment period

Fixed rate option terms vary.

Minimum Loan Amount

No Minimum

No Minimum

Maximum Loan Amount

No Maximum


Maximum Loan To Value



Payment Option

Fixed payments of Principal and Interest. Additional payments can be made to pay down principal without penalty.

Minimum payment during the draw period is interest only. During the repayment period, the minimum payment is 2% of the outstanding balance.


Primary Residence

Primary Residence


Coupon Book

Monthly statement with one monthly payment

Closing Costs3



Annual Fee



Access to Funds

One time, lump sum

By check, online transfer, or transfer by


Balance Transfer Fees



Overdraft Protection


Yes, linked to a Sandy Spring Bank checking Account

Our Fair Lending Policy Statement is available to view online.

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

    1 Annual Percentage Rate (APR) of 5.04% as of 08/01/2019. 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.

    2 To open an account, you must pay certain fees (closing costs) to third parties such as appraisers, credit reporting firms, and government agencies. 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 $5,000.00. You must pay any and all closing costs that exceed $5,000.00. You will reimburse us for ALL closing costs that we paid on your behalf to third parties if the Plan is terminated by you or us during its first 3 years. Upon request, we will provide you with an itemization of these closing costs.

    3 Introductory rate of 3.49% APR applies to accounts signed up for automatic payment from a Sandy Spring Bank checking account. An initial draw of at least $20,000 is required to activate the introductory rate. After the 12-month introductory period a Standard Rate applies. Standard Rates may vary and are based on changes in Prime, the highest rate published in The Wall Street Journal’s “Money Rates” section on the first business day of every month. Currently standard rates range from 5.00% APR to 9.25% 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 8/19/2019. 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.

    4 Closing costs are not waived for purchase transactions.