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Republic Bank: 2023 Home Equity Review

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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

At a glance

Rating: 3.9 stars out of 5
Bankrate Score
  • Availability
    Rating: 3 stars out of 5
  • Affordability
    Rating: 4.2 stars out of 5
  • Customer Experience
    Rating: 4.5 stars out of 5

About Republic Bank

  • Moneybag

    Loan amount

    Up to $500,000

  • Credit Good

    Min. credit score

    Not specified

  • Rates

    Repayment terms

    Not specified

  • Funds available in

    Not specified

Republic Bank features

Here's a breakdown of some of the benefits and drawbacks of Republic Bank home equity loans.

Republic Bank overview

Republic Bank was founded in 1982 in Louisville, Kentucky, and now operates in five states: Kentucky, Florida, Indiana, Ohio and Tennessee.  The bank offers various financial products and services, including home equity lines of credit, or HELOCs.

Republic Bank snapshot

Home equity loan types Home equity line of credit (HELOC)
Loan amounts Up to $500,000
Credit score minimum Undisclosed
Repayment terms Undisclosed
Average time to approval Undisclosed

How Bankrate rates Republic Bank

Bankrate Score 3.9
Affordability 4.2/5
Availability 3/5
Borrower experience 4.5/5


To create our Bankrate Scores, we evaluated lenders based on availability, affordability and customer experience. Availability was assessed based on the minimum loan amount required, time to approval, days to close, minimum draw requirements, minimum credit score requirements and loan types offered. Affordability was assessed based on minimum APR, discounts and promotions offered and associated fees. Customer experience was assessed based on online application and account availability, customer support, auto payment availability and mobile app availability and ratings.


  • Republic Bank’s HELOC comes with a competitive introductory rate for six months.
  • You can borrow up to $500,000 or a loan-to-value ratio (LTV) of 90 percent — a fairly standard amount for a HELOC.


  • Republic Bank doesn’t disclose a lot of information about its HELOC online. If you want to avoid having to call or visit a branch while shopping around, consider a different lender.
  • The bank charges a $50 annual fee after the first year, and there might be a prepayment penalty if you pay off your HELOC early.

Types of fees charged

You might not have to pay closing costs on a HELOC from Republic Bank if you have your primary checking account with the bank. It charges a $50 annual fee on the HELOC after the first year, and there might be a prepayment penalty (but you’ll need to call to find out if that applies to you).

Home equity loan products offered

Republic Bank offers HELOCs up to $500,000, with a maximum combined loan-to-value (CLTV) ratio of 90 percent. The minimum monthly payment is $50 or the amount of accrued interest, whichever is greater. If you just make the minimum payment, however, it might not be enough to pay down the balance, which can lead to you needing to make a balloon payment.

How to qualify for a HELOC with Republic Bank

A caveat if you decide to get a HELOC with Republic Bank: There are some geographic restrictions. You can enter your ZIP code on the bank’s website to find out if its HELOCs are available in your area.

How to get started

To apply for a HELOC with Republic Bank, you can start by creating an account online or calling a loan officer at 866-758-3970, Monday through Friday from 7 a.m. to 7 p.m. ET and Saturday and Sunday from 8 a.m. to 5 p.m. ET.