Home Equity Loans Washington DC

Local resource for home equity loans in Washington, DC. Includes helpful information including listings for lenders as well as information on closed end home equity loans, open end home equity loans, and home equity loan fees, as well as listings for commercial banking institutions and representatives.

Chase - Washington, D.C. Branch
(877) 682-4273
800 Connecticut Avenue
Washington, DC
ATM Fees
monthly fee: Monthly service fees range from $0 to $35.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. (Fee does not apply to all accounts.)
Services
Mobile & Text Banking, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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PNC Bank - National Place Branch
(800) 762-5684
1331 Pennsylvania Avenue Nw
Washington, DC
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. This fee can be waived on your first two withdrawals each month by maintaining an average balance of $2,000.00 between your 'Spend' and 'Reserve' Accounts.
ATM Fee Rebate Noe: Some accounts provide rebates of ATM Surcharge Fees. Contact PNC Bank for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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Wells Fargo - North Capitol And E Street Branch
(866) 245-3452
444 North Capitol Street, N.W.
Washington, DC
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

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PNC Bank - Washington Branch
(800) 762-5684
601 Penn Avenue, N.W.
Washington, DC
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. This fee can be waived on your first two withdrawals each month by maintaining an average balance of $2,000.00 between your 'Spend' and 'Reserve' Accounts.
ATM Fee Rebate Noe: Some accounts provide rebates of ATM Surcharge Fees. Contact PNC Bank for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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Capital One - Mt Vernon Triangle/City Vista Branch
(888) 655-2265
1075 5th St Nw
Washington, DC
ATM Fees
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Unlimited Checks

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Bank of America - Pentagon
(800) 432-1000
The Pentagon
Washington, DC
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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Capital One - New York Avenue Branch
(888) 655-2265
901 New York Avenue
Washington, DC
ATM Fees
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Unlimited Checks

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PNC Bank - Seventh Street Branch
(800) 762-5684
833 7th Street, N.W.
Washington, DC
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. This fee can be waived on your first two withdrawals each month by maintaining an average balance of $2,000.00 between your 'Spend' and 'Reserve' Accounts.
ATM Fee Rebate Noe: Some accounts provide rebates of ATM Surcharge Fees. Contact PNC Bank for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

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Citibank - 1101 Pennsylvania Avenue Branch
(800) 374-9700
1101 Pennsylvania Ave., N.W. 13th Floor
Washington, DC
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM. This fee is waived when you meet the account's minimum balance requirements.
Surcharge fee: Surcharge-free ATM access is available at all MoneyPass Network ATM locations.
ATM Fee Rebate Noe: Some accounts provide rebates of ATM Surcharge Fees. Contact Citibank for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

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Capital One - Columbia Square/12th & F St Branch
(888) 655-2265
1200 F Street Nw
Washington, DC
ATM Fees
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Unlimited Checks

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How to Access Home Equity without Interest or Monthly Payments

Many homeowners have home equity built up which they wish they could access, whether for an investment property, a new business venture or even a cruise to the Bahamas.

Unfortunately, home equity loans are expensive and—thanks to increasingly strict credit standards—difficult to secure. The thought of paying interest on a new loan and adding yet another bill to the stack keeps most homeowners from utilizing home equity. However, there are ways to access home equity, debt-free and interest-free.

How it works
 
Under debt-free home equity financing, homeowners share the future increase or decrease of the value of a home with third-party investors (program sponsors). The homeowner decides what percentage of the future value of the home is to be shared with the program sponsors. In return, the homeowner receives that same percentage of the home’s current value in two payments: an up-front cash payment of up to 13% and a second payment of the remainder paid at the time the home is sold or the agreement is terminated.

Example 1:
 
A home is worth $100,000 and the homeowner agrees to receive 25% of the home’s current value ($25,000) in exchange for 25% of the home’s future value. The owner qualifies for 10% in up-front cash and receives a check for $10,000. There are no monthly payments and no interest charges on this money. Seven years later, the home is valued and sold for $150,000. The equity sponsors pay the remainder of the 25% owed at the execution of the agreement, which is $15,000 ($25,000 less the $10,000 cash up-front). Per the agreement, the owners pay the program sponsors 25% of the home’s value at the time of sale or termination of the agreement: 25% of $150,000 = $37,500.
 
After the sale of the house, including the two payments from the finance sponsors, the homeowners walk away with $137,500. This is not only a profit of $27,500 at the sale of the home, but $10,000 was made available in cash seven years before the sale without any monthly payments or interest charges.

Example 2:

 A home is valued at $750,000 and the homeowner agrees to receive 35% of the home’s current value ($262,500) in exchange for 35% of the home’s future value. The owner qualifies for 13% in up-front cash and receives a check for $97,500. There are no monthly payments and no interest charges on this money. Ten years later, the home is valued and sold for $650,000, a decline in value by $100,000. Should the program sponsors choose to exercise their option, they will pay the remainder of the 35% owed at the execution of the agreement, which is $165,000 ($262,000 less the $97,500 cash up-front). Per the agreement, the owners pay the sponsors 35% of the home’s value at the time of sale or termination of the agreement: 35% of $650,000 = $227,500.
 
After the sale of the house, including the two payments from the finance sponsors, the homeowners walk away with $688,000...

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