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Santander Home Equity Loans Review

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Santander is a multinational banking group that was founded in Spain in 1857. Now with over 650 global branches, Santander Bank provides a range of financial services including home equity loans, mortgages and auto finance, personal loans, credit cards, as well as life insurance products. The bank features a free application and quotation process, and low variable APRs.
 
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How is Santander rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Santander has an impressive banking history since its 1902 founding in Spain. Their foray into the U.S. market is more recent, and they are mostly concentrated in the Northeast, so their availability is quite limited. Their home equity lines of credit offer fairly standard terms and qualifying requirements, but their lack of resources and small geographical coverage are drawbacks.

Santander Features

Lender Type
Bank
Loan Types Available
Home Equity Line of Credit
Minimum HELOC
$10,000
Max HELOC Draw Period
20 years
HELOC Fixed Rates Starting At
2.49%
HELOC Annual Fees
$50
Waived Fees
Closing Fee
Application Fee

Santander Qualifications

Loan Qualifications
Property Appraisal
Proof of Employment
Primary Residence
Minimum Home Equity
80%

Santander Customer Experience

Total Consumer Financial Protection Bureau Complaints
172
Site Features & Technology
Home Equity Calculator
Mobile App
Online Application
Memberships & Accreditations
Equal Opportunity Lender
Insured by Federal Housing Administration
Federal Home Loan Bank Member
Nationwide Mortgage Licensing System ID
86128
Trust Pilot Rating
6.4 out of 5
BBB Rating
A-
Date Collected
2017-08-17

Contact & Additional Information

Homepage URL
https://www.santanderbank.com
Company Phone
(877) 768-2265
Headquarters Address
P.O. Box 961245, Reading, PA, 19612
Mailing Address
P.O. Box 961245, Reading, PA, 19612
Year Founded
1902

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Customer Comments & Reviews

Loading Reviews ...
Ron M
1/25/2018
Why am I paying a "Satisfaction" fee 0f $53 to close my home equity load that I haven't used in over 30 years. Is this a scam or what? How can I be charged for something I haven't used?

Adam C
8/3/2017
Very friendly people, but their systems are so ancient it is painful. We completed a HELOC and then learned that through their online banking there is absolutely NO VISIBILITY into what you're spending. When you look at the HELOC account it shows you the balance - that is it. NO TRANSACTIONS. The statement you get in the mail doesn't show check images or any details whatsoever. You need to keep track of every expenditure with paper and pencil like in the stone age. Completely unacceptable for this day in age.

M
Michelle Z
6/12/2017
We decided to go with Santander for a HELOC for 3 reasons, my fiance was a long time customer, they were offering good rates and they advertised no in-home appraisal necessary as long there were available comps in the neighborhood and they could do a driveby. This last reason was very important to us as my fiance, a CBP officer was working a lot of overtime and I was going into Boston every 2 weeks for medical treatments so we needed this process to be as stress free as possible. We went to the local branch (people here were great) gave them all the info requested and were assured that, since there were at least 5 houses within 1-1 1/2 miles of our home that were sold in the last few... Read More

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