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finder.com’s rating: 2.8 / 5.0
★★★★★
With 700 locations across seven states, BBVA is among the nation’s 25 largest banks. If you live in an area it services, BBVA could be an option to fund home improvements, go on that trip you’ve been eyeing or pull together your debts at a lower rate using your home’s equity.
| Name | BBVA |
|---|---|
| Description | BBVA is among the 25 largest banks in the US but they are only licensed to offer mortgages in Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Kansas, Louisiana, Massachusetts, Nevada, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia and Washington. |
| Minimum credit | 620 |
| Origination fee | N/A |
| Other fees | N/A |
With BBVA Compass home equity loan, you could borrow from $10,000 to upward of $500,000 based on how much you own in your home, which is used as collateral. Pay it back at competitive fixed rates of 3.74% to 6.49% over five to 30 years, depending on your location and loan amount.
| Product name | BBVA Compass Home Equity Loan |
|---|---|
| Interest rate | 4.09%–7.09%, depending on terms and residence area |
| Repayment type | Fixed rate |
| Minimum loan | $10,000 |
| Maximum loan | $500,000 |
| Maximum term | 30 years |
| Application fee | $0 |
| States available | Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas |
Compare home equity loans vs. personal loans
To be approved for home equity loan with BBVA, you must:
To apply for a BBVA Compass home equity loan, be ready to supply:
1. Visit BBVA online and click the Lending tab.
2. Click Home Equity Loans to customize the rates by your state of residence. Click Apply Now to get started with your application.
Once you have your BBVA Compass home equity loan, keep up with monthly payments to avoid unnecessary penalties.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.
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Review by
Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.
BBVA is big-name bank, offering a range of banking products and is for those who like to keep their banking all in one place. But its home equity loans are only available in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas. If you’re outside of this service area, compare lenders that offer home equity loans.