KeyBank: 2026 Home Equity Review

How Bankrate scored KeyBank

Affordability: 1 star

KeyBank charges rates much higher than the national average and doesn't offer a lower introductory HELOC rate, so it earned 1 out of 5 stars for affordability.

• APR: KeyBank’s APR varies based on several factors, including your location and the amount you’re looking to borrow. In general, however, its APRs skew several percentage points higher than national average HELOC rates, making KeyBank an expensive borrowing option.
• Fees: KeyBank charges a $50 annual fee for HELOCs.

Availability: 3.3 stars

While KeyBank earns some points for lower loan minimums and widespread HELOC availability, it lacks transparency on borrower eligibility requirements. That's why this lender earns a 3.3 out of 5 stars for availability.

• Loan products: KeyBank offers one home equity product: a standard variable-rate HELOC. In the past, it offered fixed-rate home equity loans, but when we called the institution, a representative from KeyBank told us that it currently only offers lines of credit.
• Footprint: KeyBank’s HELOCs are available in most parts of the country, except for Alabama, Arizona, California, Nevada, Texas and Washington, D.C. But if you want in-person service, KeyBank only has physical branch locations in 15 states.
• Credit score: KeyBank does not list credit score minimums online, unlike many lenders. 
• Loan minimum: KeyBank’s require a minimum of $10,000, which is on the low side.

Borrower experience: 4.3 stars

Because of KeyBank’s easy-to-view APRs and variety of options for contact and transactions, we gave it a 4.3 out of 5 for an above-average borrower experience.

• Rate transparency: KeyBank provides a full breakdown of its lowest available APRs by ZIP code and loan size, unlike many lenders that require you to apply to get a sense of customized borrowing costs.
• Convenience: In addition to offering online applications via the KeyBank website, you can schedule an appointment to speak with a loan officer at a physical branch. You can also monitor your loan application and make credit line payments via the bank’s mobile app or by phone.
• Customer service: KeyBank's mortgage department offers phone-based customer service six days a week. You can reach the home loans team at 888-KEY-0018 from 8 a.m. to 8 p.m. ET (Monday to Friday) or 9 a.m. to 3 p.m. ET (Saturdays). 
• Fixed-rate options: KeyBank does not offer the ability to convert a portion of your HELOC into a fixed-rate loan — a feature that you can find at many other lenders.

KeyBank’s reputation

KeyBank is accredited by the Better Business Bureau (with an A+ rating), but performs poorly in customer reviews. KeyBank’s Trustpilot reviews aren’t great, either — a 1.4 out of 5 stars with numerous complaints about poor customer service.

• Methodology

  To determine a home equity lender’s Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender’s products and services. To assign our ratings, we assessed each mortgage lender across three core areas:

  • Affordability: Annual percentage rate (APR) - 80%; introductory APR - 20%
  • Availability: Licensing - 50%; credit score - 20%; loan minimum - 10%; draw requirement - 10%; loan products - 10% 
  • Borrower experience: Rate transparency - 35%; customer service - 35%; convenience - 20%; rate locks - 10%; reputation (if applicable)

  Learn more about our methodology.