Home Equity FlexLine®

Ask your home what
it can do for you.

Home Equity FlexLine®

Ask your home what
it can do for you.

Get a great rate on a Comerica Home Equity FlexLine®.

Arizona

California

Florida

Michigan

Texas

Do more, pay less.

From home repairs to education, weddings to dream vacations, there’s so much your home equity can help you achieve with much lower rates than a credit card.

  • Low interest-only payments1, 2
  • Fixed-rate options: Transfer any or part of your variable-rate loan into a fixed-payment option at any time during your draw period.3
  • Tax benefits: Your interest payments may be tax-deductible. Consult your tax advisor.
  • Controlled payments: Borrow as you need, and only pay interest on the amount you use.

Your payment will increase if the APR increases (maximum rate is 18%) or at the end of your draw period when your account goes into repayment.

Benefits of a home equity line of credit

  • Compared to most personal loans or credit cards, a home equity line of credit provides much more flexibility and, often, much lower interest rates.
  • Control: Borrow as you need, and only pay interest on the amount you use.
  • Flexibility: You can transfer any or part of your variable-rate loan into a fixed-payment option at any time during your draw period.3
  • Convenience: Utilize your equity line by writing checks or using your Comerica Premier Equity Access Card anywhere Mastercard® debit cards are accepted.
  • Lower rates: Since it is a secured line of credit, a home equity line of credit is often several points lower than a traditional, unsecured loan.
  • Tax benefits: Your interest payments may be tax-deductible. Consult your tax advisor.

 

How it works


With a Comerica Home Equity FlexLine®, you can borrow against the available equity in your home (up to 80% of the value of your home, minus what is owed).

 

Revolving source of funds:
You can borrow against your line of credit.

 

Interest-only payment:
You're approved for a total line of credit, but you will only pay interest on the amount you have drawn.

 

Automatic payments:
Your monthly FlexLine payment can be deducted right from your Comerica checking or savings account.

 


Flexible terms:
Get up to 10 years to draw (draw period) on your credit line and up to 20 years to repay.

 

You can do it all.

Capitalize on your home equity with a Comerica Home Equity FlexLine®, and maximize your:

  • Home renovations and upgrades
  • Education and tuition
  • Vehicle purchase (including car, boat, RV)
  • Debt consolidation

Call

AZ/CA/TX: 800.589.1400
or MI/FL: 800.292.1300

Find a banking center

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Member FDIC. Equal Opportunity Lender.
Comerica Bank NMLS ID: 480990

ARIZONA:

1Variable APR as low as 3.75% for line amounts for line amounts $100,000 or greater. This rate includes a 0.25% discount for maintaining an automatic payment from a Comerica Bank deposit account. Non-discounted APRs as of 4/24/2020 range from 4.00% to 7.00% APR. Your margin, rate and payment may differ based upon loan amount, collateral value, credit history and additional banking relationships. Your rate will never be lower than 3.50% or higher than 18%. APR is a variable rate that will change based on the prime rate as published in The Wall Street Journal (currently 3.25% as of March 17, 2020) plus a margin. A security interest will be taken in your home. Comerica reserves the right to modify or end this offer at any time. Subject to credit approval.

2A cash advance fee of $2 to $15 applies.  Early termination fee of 2% of credit limit with a max of $350, if account is closed within the first two years for Arizona customers. $50 annual fee (waived the first year) for Arizona customers. No title fees and no cost for the initial property valuation conducted by Comerica for credit line amounts less than or equal to $500,000. Additional property valuations, when requested by you, are at the sole discretion of the bank at your cost. Property insurance is required and flood insurance may be required.

3 A transfer to an amortizing fixed rate requires a minimum amount of $2,500. There is a $100 fee per transfer. You cannot have more than three fixed-rate parts at a time. You cannot request a transfer if you are in default.  

Mastercard is a registered trademark of Mastercard International Incorporated.

 

CALIFORNIA:

1 Variable APR as low as 3.50% for line amounts for line amounts $100,000 or greater.  This rate includes a 0.25% discount for maintaining an automatic payment from a Comerica Bank deposit account. Non-discounted APRs as of 4/24/2020 range from 3.75% to 7.00% APR. Your margin, rate and payment may differ based upon loan amount, collateral value, credit history and additional banking relationships. Your rate will never be lower than 3.50% or higher than 18%. APR is a variable rate that will change based on the prime rate as published in The Wall Street Journal (currently 3.25% as of March 17, 2020) plus a margin. A security interest will be taken in your home. Comerica reserves the right to modify or end this offer at any time. Subject to credit approval.

2 A cash advance fee of $2 to $15 applies.  Early termination fee of 2% of credit limit iwth a max of $500, if account is closed within the first three years for California customers. $80 annual fee (waived the first year) for California customers. No title fees and no cost for the initial property valuation conducted by Comerica for credit line amounts less than or equal to $500,000. Additional property valuations, when requested by you, are at the sole discretion of the bank at your cost. Property insurance is required and flood insurance may be required.

3 A transfer to an amortizing fixed rate requires a minimum amount of $2,500. There is a $100 fee per transfer. You cannot have more than three fixed-rate parts at a time. You cannot request a transfer if you are in default.

Mastercard is a registered trademark of Mastercard International Incorporated. 

FLORIDA:

1 Variable APR as low as 3.50% for line amounts for line amounts $100,000 or greater. This rate includes a 0.25% discount for maintaining an automatic payment from a Comerica Bank deposit account. Non-discounted APRs as of 4/24/2020 range from 3.50% to 7.00% APR. Your margin, rate and payment may differ based upon loan amount, collateral value, credit history and additional banking relationships. Your rate will never be lower than 3.50% or higher than 18%. APR is a variable rate that will change based on the prime rate as published in The Wall Street Journal (currently 3.25% as of March 17, 2020) plus a margin. A security interest will be taken in your home. Comerica reserves the right to modify or end this offer at any time. Subject to credit approval.

2  A cash advance fee of $2 to $15 applies. Early termination fee of 2% of credit limit with a max of $350, if account is closed within the first two years for Florida customers. $50 annual fee (waived the first year) for Florida customers.  No title fees and no cost for the initial property valuation conducted by Comerica for credit line amounts less than or
equal to $500,000. Additional property valuations, when requested by you, are at the sole discretion of the bank at your cost. Property insurance is required
and flood insurance may be required.  Comerica to pay Document Stamp Fee and Intangibles Tax Fee applicable to loan amounts of
$500,000 and less.  

3 A transfer to an amortizing fixed rate requires a minimum amount of $2,500. There is a $100 fee per transfer. You cannot have more than three fixed-rate parts at a time. You cannot request a transfer if you are in default. 

Mastercard is a registered trademark of Mastercard International Incorporated. 

MICHIGAN:

1Variable APR as low as 3.50% for line amounts for line amounts $100,000 or greater.This rate includes a 0.25% discount for maintaining an automatic payment from a Comerica Bank deposit account. Non-discounted APRs as of 4/24/2020 range from 3.50% to 7.00% APR. Your margin, rate and payment may differ based upon loan amount, collateral value, credit history and additional banking relationships. Your rate will never be lower than 3.50% or higher than 18%. APR is a variable rate that will change based on the prime rate as published in The Wall Street Journal (currently 3.25% as of March 17, 2020) plus a margin. A security interest will be taken in your home. Comerica reserves the right to modify or end this offer at any time. Subject to credit approval.

2A cash advance fee of $2 to $15 applies. Early terminatino fee of 2% of credit limit with a max of $350, if account is closed within the first two years for Michigan customers. $50 annual fee (waived the first year) for Michigan customers. No title fees and no cost for the initial property valuation conducted by Comerica for credit line amounts less than or equal to $500,000. Additional property valuations, when requested by you, are at the sole discretion of the bank at your cost. Property insurance is required and flood insurance may be required.

3A transfer to an amortizing fixed rate requires a minimum amount of $2,500. There is a $100 fee per transfer. You cannot have more than three fixed-rate parts at a time. You cannot request a transfer if you are in default.  

Mastercard is a registered trademark of Mastercard International Incorporated. 

TEXAS:

1 Variable APR as low as 3.75% for line amounts for line amounts $100,000 or greater. This rate includes a 0.25% discount for maintaining an automatic payment from a Comerica Bank deposit account. Non-discounted APRs as of 4/24/2020 range from 4.00% to 7.00% APR. Your margin, rate and payment may differ based upon loan amount, collateral value, credit history and additional banking relationships. Your rate will never be lower than 3.50% or higher than 18%. APR is a variable rate that will change based on the prime rate as published in The Wall Street Journal (currently 3.25% as of March 17, 2020) plus a margin. A security interest will be taken in your home. Comerica reserves the right to modify or end this offer at any time. Subject to credit approval.

2No annual fee for Texas customers. No title fees and no cost for the initial property valuation conducted by Comerica for credit line amounts less than or equal to $500,000. Additional property valuations, when requested by you, are at the sole discretion of the bank at your cost. Property insurance is required and flood insurance may be required.

3A transfer to an amortizing fixed rate requires a minimum amount of $2,500. You cannot have more than three fixed-rate parts at a time. You cannot request a transfer if you are in default.