FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Comerica Logo
  1. Home
  2. Personal
  3. Banking
  4. Home Lending
  5. Comerica Home Equity FlexLine®

Home Equity Line of Credit

Turn your home into a sweet opportunity.

Put your home equity to work.

Unlock financial flexibility with a home equity loan that lets you borrow what you need, when you need it. No matter what your current goals are, a Comerica Home Equity FlexLine® can make them happen, for less.

Home repairs
Home repairs & renovations1

Finance repairs and improvements to reinvest money back into your home.

Education Tuition
Education & tuition1

Fund educational expenses, including tuition for higher education.

Debt consolidation
Debt consolidation1

Leverage your home equity to pay off debt at a lower interest rate.

Vehicle purchase
Vehicle purchase1

Get a cash advance for a vehicle or other large, one-time expense.

Already started an Application? Log in here for details.

Open the door to financial flexibility.

Borrow as little or as much as you need. Compared to most personal loans or credit cards, a home equity line of credit provides much more flexibility, often at much lower interest rates.

Get a low, competitive rate.

A secured line of credit lets you borrow money at a competitive rate lower than almost any other type of loan.

Control how you borrow.

Borrow as you need2 on a revolving basis, and only pay interest on the amount you use.3

Your interest payments may also be tax-deductible.1

Manage how you pay.

You can transfer any or part of your variable-rate loan into a fixed-payment option at any time during your draw period.

Easily access your funds.

Use your equity line by writing checks2 or using your Comerica Premier Equity Access Card anywhere Mastercard® credit cards are accepted.
(Not available in TX)

Explore more full-service banking solutions.

icon for the personal finance mortgage lending page link
Home Mortgages
icon for the personal finance mortgage refinancing page link
Mortgage Refinancing
icon for the personal finance education savings page link
Education Savings Accounts
icon for the personal finance cds page link
CDs

Tools & Resources

Home Equity Insights

1 All loans are subject to credit approval. Consult your tax adviser for further information regarding the deductibility of interest and charges.

2 The minimum Comerica Home Equity FlexLine draw by check is:

Michigan draw: No minimum
Arizona draw: No minimum
Florida draw: No minimum
California draw: No minimum
Texas draw: $4,000

3 Home Equity Lines of Credit Interest-Only Payment Feature – Is It for You?

What is an Interest-Only Payment Feature?  
An interest-only payment feature allows you to pay only the interest for a specified number of years. After that, you must repay both the principal and the interest.

When Might an Interest-Only Payment Feature be Right for You?
Interest-only payments may be risky if you won’t be able to afford the higher monthly payments in the future. However, if you have modest current income but are reasonably certain that your income will go up in the future (for example, if you’re finishing your degree or training program), interest-only payments may be right for you. Be sure you understand the loan terms and the risk you face. And be realistic about whether you can handle future payment increases. If you’re not comfortable with these risks, ask about another loan product.

Interest-Only Payment Changes
Your payment amount could increase significantly during the draw period if the Annual Percentage Rate increases to a maximum of 18%. In addition, your monthly payments will increase when your account goes into repayment.

Payment Shock
Your payments may go up a lot — as much as double or triple — after the interest-only period or when the payments adjust.

Prepayment Penalty
Extra fees may be due if you pay off the line of credit early. Ask us if there is a prepayment penalty. 

Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.