Wachovia Bank's Home Equity Loan is for those who want to borrow a specific dollar amount against the equity in your home. In Texas, it is available for both homestead and non-homestead properties, and you may borrow up to 80% of the value of your homestead property. In all other states, there is a fixed rate for the life of the loan. For both, there are loan terms of up to 30 years with a $10,000 minimum loan amount.
The home equity loan application and servicing process are fairly good. The rates offered through Wachovia's home equity program are competitive. My home equity loan was priced substantially below the average as reported by bankrate.
The servicing is great. But, since I am a wachovia checking account holder too, it would be nice to have better integration between the checking account and loan products.
| Type | Today | Week Ago |
|---|---|---|
| 15 Year Fixed | 4.62%  |
4.67% |
| 30 Year Fixed | 5.15% | 5.15% |
| 1 Year ARM | 3.48% |
3.51% |
| 5/1 Year ARM | 3.62% |
3.68% |
| Type | Today | Week Ago |
|---|---|---|
| Line of Credit | 4.89%  |
4.88% |
| 10 Year Loan | 7.47% | 7.47% |
| 15 Year Loan | 7.61% |
7.60% |
| Type | Today | Week Ago |
|---|---|---|
| Interest Checking | 0.28% | 0.28% |
| Money Market/Savings | 0.38% | 0.38% |
| 12 Month CD | 1.13%  |
1.15% |
| 60 Month IRA CD | 2.40% |
2.41% |
| Type | Today | Week Ago |
|---|---|---|
| Cash Back Cards | 12.66% |
12.68% |
| No Annual Fee Cards | 12.08% |
11.97% |
| Reward Cards | 12.75% |
12.61% |
| Small Business Cards | 11.01% |
10.94% |
| Student Cards | 13.77% |
13.49% |
| Platinum Cards | 12.26% |
12.11% |
