Amerant: 2025 Home Equity Review

Home equity loan products offered

Amerant Bank offers a HELOC with a twist: the Fixed-Rate Choice HELOC (FRC HELOC). The first 10 years of the FRC HELOC will be a draw period, during which you can convert all or part of your balance to a Fixed-Rate Loan Option (FRLO) with a term of one, three, five, seven or 10 years. The draw period is followed by a 20-year repayment period.

The FRC HELOC doesn’t have any application or origination fees. There are no closing costs if the line of credit is under $350,000.

How Bankrate scored Amerant Bank 

Affordability: 5/5 

• APR: Amerant’s HELOC rates are below the Bankrate average.
• Fees: There are no application or origination fees on either of Amerant’s HELOCs, nor any closing costs on lines of up to $350,000. For lines over that amount, the bank will cover $2,500 in closing costs. Fixed-rate HELOCs to Florida borrowers also come with a $500 fee if you close the account within two years. As with most HELOCs from other lenders, you’ll also pay an annual fee after the first year: $75.

Amerant Bank scores a perfect 5 out of 5 for affordability because of minimal fees and the option to lock in the HELOC to a fixed-rate loan during the draw period.

Availability: 2.5/5 

• Loan products: A HELOC is the only home equity product Amerant offers. It can be switched from a variable rate to a fixed rate, however.
• Footprint: Amerant operates exclusively in Florida – more of a toe print than a footprint.
• Credit score: Amerant doesn’t list credit score minimums on its website, unlike many lenders, requiring borrowers to contact the lender for the information.
• Loan minimum: Amerant’s $1,000 HELOC minimum is a very low borrowing threshold among lenders.

Amerant Bank earns a low 2.5 out of 5 for availability because of its limited geographic footprint and product offerings, along with lack of listed credit score criteria.

Borrower experience: 3.6/5

• Rate transparency: Amerant’s website prominently lists the lowest APR available to borrowers and the ceiling the APRs can’t exceed–fairly standard among lenders.
• Convenience: You can start Amerant’s HELOC application process online. Another option is to visit one of the lender’s 19 banking centers in the state.
• Customer service: Amerant offers multiple contact methods, including phone, email, online or in-person at one of its branch offices in Florida.
• Fixed-rate options: You have the ability to lock the HELOC balance in at a fixed rate during the draw period, with a variety of term lengths.

Amerant gets a 3.6 out of 5 for borrower experience largely because of the limits to convenience: Only 19 branches in one state and no phone application option.

Amerant Bank’s reputation 

Amerant Bank gets a B- rating and isn’t accredited by the Better Business Bureau. Its parent company, Amerant Bancorp, has a higher A+ rating with the BBB.

How to qualify for a a home equity loan with Amerant Bank

To qualify for an Amerant HELOC, your property must be located in Florida. The company will verify your income and the value of your home. Your specific APR will depend on your credit history, property type, occupancy status, lien position and line amount. You will also be required to have hazard, liability and windstorm insurance.

While the bank doesn’t disclose credit score minimums online, scores starting in the mid- to high-600s are typically required for home equity products. Amerant also doesn’t indicate the debt-to-income ratio (DTI) needed to qualify for a loan, but lenders typically look for a DTI of 43 percent or lower.

How to apply for a home equity loan with Amerant Bank

You can apply for a HELOC by starting an application online or at one of Amerant’s locations in Florida. Once approved, you will receive funding in as little as 10 days. The bank’s call center is open Monday through Friday from 7 a.m. to 8 p.m. ET and Saturday from 8 a.m. to 5 p.m. ET. For information on its HELOCs, the bank’s authorized telephone service is available toll-free at 1-855-263-7268. You can also email Amerant at questions@amerantbank.com.