Home Equity Line of Credit

100% Bank-Paid Closing Costs Options Available

With a HELOC1, you can use the equity you've built in your home for major purchases, repairs or renovations. Ask your banker if you qualify for 100% Bank-paid closing costs.2

Leverage the Equity in Your Home

As you pay down your mortgage, a Home Equity Line of Credit (HELOC) becomes a valuable loan option for you. Using the equity you’ve built in your home, we can provide you with a revolving line of credit to help you finance important purchases or consolidate high-interest debt.

Whether you’re funding home renovations, sending a child to college, or helping pay for a wedding – we’ll work alongside you to find a lending option that works best for your needs. And as an added bonus, if you meet certain IRS conditions, the interest you pay may be tax deductible.2
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Benefits of a Home Equity Line of Credit

HELOCs can be helpful tools to maximize cash flow when you need it most. Although your home serves as collateral for your HELOC, you aren’t required to use the funds on home improvements. We make it easy to access your HELOC through convenience checks and online or mobile transfers2. Here are a few key benefits to a HELOC:

Few Restrictions on the Funds

Low Interest Rates

Flexible Repayment Options

Potential to Raise Your Credit Score

Interest May Be Tax Deductible If You Meet Certain IRS Conditions2

Fixed and Variable Rate HELOC Options

Fixed and Variable Rate HELOC Options

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How It Works

How It Works

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Icon for How It Works
  • You may draw or borrow against your HELOC as often or as little as you need during the term of your HELOC.
  • Depending on your payment option, minimum payments will equal interest only or 1% of the outstanding balance ($100 minimum), with a final balloon payment at maturity.
  • Prior to maturity, you may apply to renew the term of your HELOC. Contact us today to discuss  available options.
HELOC Options Variable Rate Fixed Rate
Terms 120 months 60 months, 120 months 
Monthly Payments Interest only or 1% of outstanding balance ($100 minimum) with a final balloon payment. Interest only with a final balloon payment.
Loan to Value (LTV)  85% maximum LTV  85% maximum LTV
Collateral Requirements Primary Residence Primary Residence
Terms
Variable Rate 120 months
Fixed Rate 60 months, 120 months 
Monthly Payments
Variable Rate Interest only or 1% of outstanding balance ($100 minimum) with a final balloon payment.
Fixed Rate Interest only with a final balloon payment.
Loan to Value (LTV)
Variable Rate  85% maximum LTV
Fixed Rate  85% maximum LTV
Collateral Requirements
Variable Rate Primary Residence
Fixed Rate Primary Residence
The Loan Process

The Loan Process

APPLY ONLINE:
You can apply for a Home Equity Line of Credit online or by visiting a SouthState branch. Closing is generally in 30 to 45 days.

SUBMIT YOUR DOCUMENTS:
You may receive an email requesting additional financial information once your application has been received.

SIGN YOUR DOCUMENTS
Once approved, you will need to sign the loan documents with an attorney or at your nearest SouthState branch. We can arrange a time that works best with your schedule.

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How Much Equity Do You Have In Your Home?

Try Our Home Equity Calculator

Stories and Insights


  1. Primary residences only. Minimum loan amount $10,000. Minimum advance of $10,000 required at closing. Hazard insurance is required; flood insurance may apply. Other exclusions and limitations apply. All loans are subject to credit approval. Not all applicants will qualify for the advertised Annual Percentage Rate (APR) or maximum loan to Value (LTV). Borrowers may be subject to $170 in lender fees at closing based on creditworthiness. APRs and product terms are subject to change or cancellation without notice.
  2. We may pay some or all of the third party fees you must pay in connection with opening a Credit Line (collectively “Closing Costs”) based on rate option (not available for Promo Rate offer), creditworthiness, the amount and term of the Credit Line, and the property location. Closing costs vary by state. In Georgia, for Credit Lines of $250,000 or less with a 35 month term, we will pay all Closing Costs; otherwise, we will pay Closing Costs up to $750. For Credit Lines of $250,000 or less in AL, FL, NC, SC and VA, we will pay all Closing Costs. However, for all Credit Lines of $250,000 or less, if the appraisal cost exceeds $133, you are responsible for paying all amounts over $133 for the appraisal.  For Credit Lines greater than $250,000, we will pay Closing Costs up to $1,800 in Florida, up to $1,300 in Virginia, up to $800 in Alabama, and up to $750 in Georgia, North Carolina and South Carolina. Should you close your Credit Line within 30 months from the anniversary date of the Credit Line closing, you must reimburse us for all Closing Costs paid by us on your behalf. The requirement to reimburse us for any Closing Costs paid by us on your behalf shall be waived if you keep your Credit Line opened for at least 30 months. The reimbursement of Closing Costs provision does not apply to Credit Lines originated by North Carolina residents. We will not pay any amounts towards Closing Costs for any renewal, extension or refinance of the Credit Line.
  3. Please consult your tax advisor about the deductibility of interest.
  4. Third party message, data, or internet service provider fees may apply.
  5. 4.74% APR will be fixed for the first 12 months (introductory period). After the introductory period, the interest rate will be variable and based on the Wall Street Journal U.S. Prime Rate (WSJ Prime) which is 7.00% as of November 3, 2022. The minimum APR is 3.25% and maximum APR is 16.00%. Maximum term 120 Months (35 Month maturity option available in the state of Georgia). Payment options include interest only, or 1.00% of the outstanding balance or $100, whichever is greater; with outstanding interest, principal and any applicable fees due as a final balloon payment at maturity. Estimated closing costs range from $450 to $3693, which includes, but not limited to, appraisal, flood determination and settlement fees. Additional fees may apply and vary based on collateral location and loan amount. 
     
  6. 7.50% APR is variable, includes a .50% margin, and subject to change based on the Wall Street Journal U.S. Prime Rate (WSJ Prime) which is 7.00% as of November 3, 2022. The minimum APR is 3.25% and maximum APR is 16.00%. Maximum term 120 Months (35 Month maturity option available in the state of Georgia). Payment options include interest only, or 1.00% of the outstanding balance or $100, whichever is greater; with outstanding interest, principal and any applicable fees due as a final balloon payment at maturity. Estimated closing costs range from $450 to $3693, which includes, but not limited to, appraisal, flood determination and settlement fees. Additional fees may apply and vary based on collateral location and loan amount. 
  7. 6.75% APR is fixed rate for 60 month term. Maximum term 120 months (35 month maturity option available in the state of Georgia). APR quoted is accurate as of October 31, 2022 and is subject to change at any time. Interest only payments with outstanding interest, principal and any applicable fees due as a final balloon payment at maturity. Estimated closing costs range from $450 to $3693, which includes, but not limited to, appraisal, flood determination and settlement fees. Additional fees may apply and vary based on collateral location and loan amount.

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