Unlock Your Home's Value

Fund a home improvement project, cover an unexpected expense, pay for school, and more with a customized home equity loan from BayFirst. Discover the power of your home's equity and take advantage of flexible spending options.

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Your Equity. Your Choice.

Explore our suite of home equity loan options,
tailored to fit your unique financial needs and goals.

Home Equity Loan

Enjoy predictability and convenience.

Borrow against the equity you’ve built in your property and receive a lump sum amount. Expect a fixed interest rate and longer repayment terms when compared to a Home Equity Line of Credit (HELOC).

BayFirst Home Equity Loan Features:

  • Fixed interest rates as low as 6.5% Annual Percentage Rate (APR)1 for creditworthy borrowers
  • No closing costs fees up to $2,5002
  • Borrow up to 100% of your home's value
  • Flexible repayment periods: 5-year, 10-year, 15-year, and 20-year options
  • Potential tax benefits (consult with a tax advisor for eligibility)

Apply Today

Home Equity Line of Credit (HELOC)

Enjoy flexible spending options on your terms.

Borrow against the equity in your home with a revolving line of credit. Access funds as needed, up to a predetermined limit, and repay the borrowed amount with variable interest rates – just like a credit card.

BayFirst HELOC Loan Features:

  • Rates as low as 8.5% APR3 for creditworthy borrowers
  • Option to lock a portion of the balance into a fixed-rate loan5 
  • No closing costs fees up to $2,5002
  • Borrow up to 100% of your home's value
  • 10-year draw with up to 20-year repayment period

Apply Today

Home Improvement Loan

Take on a big project that adds permanent value to your home.

Borrow up to 133%* of what your home is worth to fund a major renovation, such as a kitchen or bathroom remodel, built-in patio, inground pool, or new addition. Enhance your living space and increase your property's value.


BayFirst Home Improvement Loan Features:

  • Rates as low as 6.25% APR4 for creditworthy borrowers
  • No closing costs fees up to $2,5002
  • Borrow up to 133% of your home's value
  • Payment terms up to 20 years
  • No private mortgage insurance required

Apply Today Learn More

Home Equity Loan FAQ

Home equity loans and HELOCs can be used for various purposes, including home renovations, debt consolidation, education expenses, or other major purchases.

A home equity loan provides a lump sum amount with a fixed interest rate, while a HELOC offers a revolving line of credit with variable interest rates. Home equity loans are typically used for one-time expenses, while HELOCs provide ongoing access to funds for various needs.

The main difference between a HELOC draw and a home equity loan payment lies in how you access and repay the borrowed funds. With a HELOC draw, you can access funds (or a portion of your funds) as needed, similar to using a credit card, and only pay interest on the amount you've withdrawn. In contrast, a home equity loan provides a lump sum upfront, and you make regular payments on the entire borrowed amount, typically at a fixed interest rate, until the loan is paid off.

Home equity loans and HELOCs offer several benefits, including lower interest rates compared to other types of loans, the ability to borrow larger amounts, and potential tax deductions on interest payments (consult with a tax advisor for eligibility).

You can apply online at Apply Now link above or stop into a local BayFirst banking center (locations below) to complete an application in-person. Once we receive your completed application, we'll determine your eligibility before discussing loan terms.

The average time from application to approval is typically around 2 to 6 weeks, depending on how quickly the borrower can supply the required information and documentation. A motivated and responsive borrow can cut that time down significantly.

While BayFirst covers closing costs up to the first $2,5002, there may be additional fees involved, such as application fees, appraisal fees, and annual maintenance fees for HELOCs. Appraisal fees are not covered by BayFirst.

Still Have Questions?

Not sure which option is best for you or need more information? Our team of dedicated lenders are here to help.  Contact us today to explore your options and take the next step.

Give Us a Call
1The monthly payment for a loan amount of $50,000.00 for a 5–year term with a fixed rate of 6.25% APR will be $972.46, with a finance charge of $8,347.79.  Payment is principal and interest only and does not include taxes and insurance.

2No closing costs up to $2,500. Borrower will be responsible for anything over $2,500 at closing.

3Rates will vary with the market based on the Prime Rate + margin. Standard APRs are variable during the 10-year draw period and 20-year repayment period and apply only to the variable rate option and are based on your collateral property location, credit line amount, combined Loan-To-Value (CLTV) ratio and other factors. APR will continue to be calculated at a variable rate and your minimum monthly payment will be 1/240th of the total balance at the end of the draw period, plus interest and any applicable fees/charges. Offer subject to credit approval.

4The monthly payment for a loan amount of $100,000.00 for a 5–year term with a fixed rate of 6.25% APR will be $1,944.93, with a finance charge of $16,695.56.  Payment is principal and interest only and does not include taxes and insurance.

5You may have up to 5 fixed rate draws outstanding at any given time.  The minimum draw amount required is $5,000.00.  The maximum allowable draw amount is the outstanding line of credit at the time of request

*Proof of improvement required. The maximum amount of the loan is determined by subtracting the amount of any outstanding liens from 133% of the home value.

All loans subject to approval, including credit approval. Income, credit and property restrictions may apply. Other programs available. Programs subject to change or termination without notice. BayFirst National Bank is not affiliated with the Federal Housing Administration, U.S. Department of Veterans Affairs, or any other government agency.