Finding the right mortgage can be stressful, especially if it’s your first time buying a home. That’s why many people look for clear guidance and flexible options. KeyBank home loans aim to make the process easier with a wide range of mortgage products, competitive rates, and personal support.
In this guide, we’ll walk you through everything you need to know about what KeyBank has to offer.
Quick Overview of KeyBank Home Loans
KeyBank is a respected regional bank based in Ohio, providing services to communities across 15 states in the U.S. Founded nearly two centuries ago, KeyBank has established itself as a trusted financial institution, offering personalized banking solutions. These include KeyBank personal loans, checking and savings accounts, credit cards, and investment services. But it’s also well known for its mortgage and home loan programs, which are designed to help people buy homes, refinance existing mortgages, or tap into home equity.
KeyBank gives you more than just a loan. It offers flexible options, helpful tools, and a few extra perks for customers who bank with them. Here’s what makes KeyBank home loans stand out:
- Full home loan line-up: KeyBank offers many loan types: conventional, FHA, VA, community, home improvement, and home equity products.
- Relationship discounts: If you already have a KeyBank checking account or open one, you can save money on your KeyBank home loans. The bank offers a 0.25% discount on your interest rate just for having a qualifying KeyBank account or using automatic payments.
- Personalized support: KeyBank blends digital tools with local, human support. You can start your application online, but if you prefer talking to someone in person, loan officers are available at branches across more than 15 states.
- Transparency and helpful tools: Many banks make it hard to see your actual loan rate until you apply. KeyBank is more open. It publishes real-time KeyBank mortgage rates and APRs on its website. They also offer free online calculators, loan comparison tools, and educational guides.
- Special programs: The bank also runs targeted KeyBank mortgage programs to support homeownership in certain communities. These programs are especially helpful for first-time buyers and those with limited income.
Types of KeyBank Home Loans
KeyBank provides a diverse selection of home loan products to meet the needs of different buyers. Here’s a clear breakdown of their main offerings:
Fixed-Rate Mortgages
Fixed-rate KeyBank home loans offer stability. With terms ranging from 10 to 30 years, your interest rate, and therefore your monthly payments, will never change. This predictability makes fixed-rate mortgages ideal if you plan to stay in your home long-term or prefer steady budgeting.
Adjustable-Rate Mortgages (ARMs)
An ARM has a lower initial rate (fixed for 5, 7, or 10 years), after which it adjusts annually. This is beneficial if you’re planning to sell or refinance before the initial period ends. However, be mindful that rates could increase significantly after that introductory period.
Government-Backed Loans
KeyBank offers various government-insured loans, ideal for specific borrower profiles:
- FHA Loans: Backed by the Federal Housing Administration, these loans are perfect for first-time homebuyers or people with lower credit scores. You can get started with as little as 3.5% down. FHA loans also allow higher loan-to-value (LTV) ratios, making them more flexible.
- VA Loans: If you’re a veteran, active-duty military member, or eligible surviving spouse, you could qualify for a VA loan. These KeyBank home loans typically require no down payment, offer lower interest rates, and don’t charge private mortgage insurance (PMI).
- SONYMA Loans: Specifically designed for low-to-moderate-income homebuyers in New York, these come with down payment assistance and competitive rates.
Specialized KeyBank Home Loans
If your financial situation or career path requires a tailored lending solution, these KeyBank home loans could be an ideal fit:
- Medical Professional Loan: If you’re a healthcare professional, KeyBank offers a loan with attractive benefits, such as no private mortgage insurance (PMI) and loans up to $3.5 million.
- Key Community Mortgage Program: This KeyBank home loan program is designed to help people with low to moderate income buy homes in specific neighborhoods. Eligible borrowers may receive additional support such as lower down payments, reduced rates, and even HUD-approved homebuyer education benefits.
- SilverKey Mortgage: If you’re buying a high-value home, this KeyBank home lending program gives you big borrowing power, with fewer upfront costs. The SilverKey Mortgage allows you to borrow up to $3.5 million with no PMI. You can finance up to 90% of the home’s value on loans up to $2 million.
- GoldKey Mortgage: The GoldKey Mortgage is another premium option. You may qualify for lower rates if you have large deposits or investments with KeyBank. It supports fixed or adjustable rates and works with various property types.
- Fannie Mae HomeReady and Freddie Mac Home Possible: These KeyBank home loans are both designed for lower-income buyers. You can get up to 97% financing with just 3% down. Gifts, grants, and seller contributions can help cover your upfront costs.
- GoldKey Interest-Only: The GoldKey Interest-Only Mortgage is for high-net-worth clients who want lower payments for the first 10 years. You pay only interest during that period, giving you more cash flow flexibility.
Home Equity Loans & Lines of Credit (HELOC)
If you already own a home and have built up equity, you can borrow against it.
- KeyBank Home Improvement Loans give you a lump sum with a fixed interest rate, perfect for large renovation projects. With fixed interest rates and loan amounts starting at $5,000, this unsecured loan offers flexible repayment terms of up to 84 months. There’s no origination fee, and in many cases, funds can be available as soon as the same day.
- Home Equity Loans also provide one-time funds at fixed rates. You can borrow between $25,000 and $500,000, depending on your home’s value and your credit. Loan terms can last up to 30 years, giving you plenty of time to repay.
- HELOCs (Home Equity Lines of Credit) act more like a credit card. With a KeyBank HELOC, you can borrow anywhere from $10,000 to $500,000. You can access up to 80% of your home’s combined loan-to-value (CLTV). One big perk is the interest-only payment option during the initial draw period, which can help lower your monthly bills.
The KeyBank relationship discount also applies to these products, helping lower your interest rates even further.
KeyBank Home Loan Rates
Rates fluctuate frequently, so knowing current market conditions is crucial. As of July 2025, KeyBank home loan rates are as follows:
Current KeyBank Mortgage Rates
KeyBank offers a range of mortgage options with competitive rates, especially for qualified borrowers. Rates are based on strong credit (740+), 75% loan-to-value (LTV), and a debt-to-income ratio below 36%. Many KeyBank home loans also include a 0.25% interest rate discount if you qualify for a KeyBank relationship.
| Loan Type | Interest Rate | APR Range | Monthly Payment (est.) |
|---|---|---|---|
| 30-Year Fixed | ~6.50% | ~6.61%–6.63% | ≈ $1,580 on $250,000 |
| 15-Year Fixed | ~5.75% | ~5.88%–5.90% | ≈ $2,076 |
| 30-Year FHA | ~6.375% | ~7.33%–7.35% | ≈ $1,674 |
| 30-Year VA | ~6.375% | ~6.68%–6.70% | ≈ $1,560 |
Note: These rates may vary by location and are slightly better than national averages, which hover around 6.72% for 30-year loans and 5.86% for 15-year loans.
KeyBank Home Equity Loan Interest Rates
KeyBank home equity loans come with fixed interest rates that vary depending on your credit score, loan amount, and term. Here are sample rates:
| Loan Amount | Term | APR | Est. Monthly Payment |
|---|---|---|---|
| $25,000 | 10 years | 11.64% | ≈ $353 |
| $50,000 | 15 years | 9.94% | ≈ $536 |
KeyBank Home Improvement Loan Rates
KeyBank also offers home improvement loans with fixed interest rates. A typical example:
Borrow $20,000 over 60 months at 11.80% APR → ≈ $442.87/month
- Early payoff fee: If you pay off the loan within 18 months, a $150 penalty may apply (unless the loan term is 18 months or shorter).
- Longer terms (over 60 months) may come with a 0.25% APR increase, depending on
KeyBank homebuyer credit.
Are You Eligible for a KeyBank Home Loan?
Before applying, it’s a good idea to know what KeyBank looks for in a borrower. Here are the general requirements of KeyBank home loans:
- Age & ID: You must be 18 or older and have a valid Social Security Number (SSN).
- Credit Score: You’ll need at least 620 for most KeyBank home loans, but a score of 740+ will help you secure the best rates.
- Debt-to-Income Ratio (DTI): Ideally, your debt-to-income ratio should be 36% or below. In some cases, KeyBank may accept a DTI up to 43%, especially for government-backed loans.
- Residency Requirements: You must live in a state where KeyBank does business. This includes Ohio, New York, Pennsylvania, Massachusetts, Oregon, and several others.
- Proof of Income: Be ready to show tax returns, pay stubs, bank statements, and possibly employment verification.
- Loan-to-Value Ratio (LTV): KeyBank looks at how much the home is worth compared to how much you want to borrow. This is known as the loan-to-value ratio. The lower your LTV, the less risk for the bank, and the better your chances of approval.
Keep in mind that requirements can vary depending on the type of loan you’re applying for. KeyBank also offers a conditional approval checklist, which walks you through everything you’ll need before your final loan approval. This can make the application process smoother and help you gather all your paperwork in advance.
How to Apply for a KeyBank Mortgage
Getting a mortgage with KeyBank doesn’t have to feel overwhelming. By following these straightforward steps, you’ll be prepared, confident, and able to complete your KeyBank home loan smoothly.
- Get Your Paperwork Ready Early: First, gather all the important documents you’ll need. This includes your recent tax returns, at least two months of pay stubs, current bank account statements, and a valid form of ID like your driver’s license. Organizing these ahead of time prevents delays and shows lenders you’re serious and prepared.
- Pick the Right Loan for You: Next, you should talk with a KeyBank loan officer about your options. They’ll help you select a KeyBank home lending product that fits your financial goals and lifestyle. Whether you’re looking for stable payments with a fixed-rate loan or lower initial payments with an adjustable-rate mortgage (ARM), their expertise ensures you make an informed decision.
- Start the Application: You can begin your application online through KeyBank’s website, by phone at 1-888-539-0018, or in person at your local branch.
- Get Pre-Approved: During this step, KeyBank will review your basic financial details like your income, credit score, and debt to help you determine how much you can afford for your home.
- Lock in Your Rate: If you’re happy with the estimated rate, you can lock it in, usually for up to 60 days. This helps protect you from market changes while you house-hunt.
- Submit Documents: Now it’s time to provide the documents you have prepared above to KeyBank.
- Underwriting & Closing: Your file goes through a formal review process. The bank will also order an appraisal and verify your credit and income. If everything checks out, you’ll move to closing day, sign the final documents, pay your closing costs, and get the keys to your new home!
KeyBank Home Loan Payment
When you take out a home loan, your KeyBank mortgage payment is usually due on the first day of each month. After your loan closes, KeyBank will send you either a monthly mortgage statement or a first payment letter, which tells you the exact date your first payment is due.
How to Pay KeyBank Home Loans
Keep in mind, KeyBank does not accept credit card payments for mortgages. Instead, you’ll need to make payments from a checking or savings account. You can set up automatic payments to avoid missing due dates, or you can pay manually each month through your KeyBank online account or mobile app.
Convenient Ways to Pay Your KeyBank Home Loans:
- Online & Mobile Banking: Make one-time or recurring payments anytime using KeyBank’s app or website. Payments made before the cutoff time are posted the same day.
- By Phone: Call 1-800-539-2968 to use the automated system 24/7 or speak with a rep during business hours. Payments made by 11:59 p.m. ET are credited that day.
- Automatic Payments (ACH): Set up monthly withdrawals from any U.S. bank account. Activation takes about 5 business days.
- At a Branch: Pay in person at any KeyBank location. Payments are processed the same day but may take up to 5 days to show.
- By Mail: Send your check and payment stub to:
KeyBank Mortgage Payment Processing
P.O. Box 94588, Cleveland, OH 44101-4588
Allow 7–10 business days for delivery.
If You Miss a Payment:Â
- Less than 60 days late? Call 1-866-325-9677.
- More than 60 days late? Call 1-866-325-9653.
KeyBank Mortgage Loan Calculators
To help you plan your monthly costs, KeyBank offers an online loan payment calculator. This tool lets you enter the loan amount, interest rate, and loan term to estimate your monthly mortgage payment. You can also explore different loan scenarios, like choosing between a 15-year and 30-year mortgage, to see how your payment changes.
If you’re thinking about making extra payments to pay off your mortgage faster, KeyBank also provides a mortgage payoff calculator. This tool shows you how much interest you can save and how many years you can shave off your loan by adding a little more to your monthly payment.
Who Should Consider KeyBank Home Loans?
KeyBank home loans could be ideal if you are:
- Already a KeyBank customer who can leverage relationship discounts.
- Seeking specific loan types, such as FHA, VA, or specialized loans for medical professionals.
- A first-time buyer or homeowner in New York who can utilize the SONYMA program.
- Someone who values personalized customer service alongside online conveniences.
In opposite, you might want to look elsewhere if:
- You’re solely rate-driven and want the absolute lowest interest rates.
- You don’t live within KeyBank’s service area.
- You prefer not to manage additional accounts to secure mortgage discounts.
Practical Tips for Getting the Best KeyBank Home Loan
Securing the best possible mortgage is not only about choosing the right lender, but also about making smart financial moves beforehand. Here’s how to ensure you’re getting the optimal deal from KeyBank:
- Keep Your Credit Score Healthy: Your credit score strongly impacts the interest rate you’ll qualify for. To get KeyBank’s best rates, aim for a score of 740 or higher. Regularly checking your credit reports and paying bills on time can help you achieve this target, saving you money over the lifetime of your loan.
- Take Advantage of Available Discounts: KeyBank offers interest rate discounts if you have a checking account with them and set up automatic mortgage payments. This simple action can significantly lower your mortgage rate. The savings may seem small monthly, but can add up substantially over the loan term.
- Carefully Select Your Loan Type: Think carefully about whether a fixed-rate or adjustable-rate mortgage (ARM) suits your future plans. If you intend to stay in your home for many years, a fixed-rate loan gives you predictability. If you plan to move or refinance in a few years, an ARM might offer initial savings.
- Consider Special Government Programs: If you’re eligible, KeyBank’s FHA and VA loans offer excellent benefits like lower down payments or even zero down payments for qualified veterans. These special KeyBank home loans make homeownership more accessible, especially for first-time buyers or families with limited savings.
By following these steps and tips, you’ll put yourself in a strong position to secure a home loan from KeyBank that matches your financial goals, budget, and future plans perfectly.
FAQs About KeyBank Home Loans
What credit score do I need for a KeyBank home loan?
- Most KeyBank mortgage options require a minimum credit score of 620, but to qualify for the lowest interest rates, a score of 740 or higher is typically preferred. Your credit also impacts the loan terms, down payment, and approval process.
Does KeyBank offer FHA or VA home loans?
- Yes, KeyBank provides FHA and VA loan options. These government-backed loans are great for first-time buyers or veterans, often requiring lower down payments and offering more flexible credit guidelines.
What are the current KeyBank mortgage rates?
- As of July 2025, KeyBank’s 30-year fixed mortgage rate is around 6.50%, and the 15-year fixed rate is about 5.75%, both with competitive APRs. Rates may vary depending on your credit, loan amount, and location.
Can I use a KeyBank home loan for home improvement?
- Yes. You can apply for a KeyBank Home Improvement Loan or a Home Equity Loan/HELOC to fund remodeling, repairs, or upgrades. These KeyBank home loans come with fixed or variable APRs and flexible repayment terms.
How long does KeyBank take to approve a mortgage?
- Typically, KeyBank mortgage approvals take about 30–45 days, depending on document accuracy and appraisal scheduling.
KeyBank stands out through its variety of loan products, excellent customer support, and attractive relationship-based discounts. Buying a home is a substantial investment, therefore, ensure your lender choice aligns with your financial goals. KeyBank home loans certainly deserve consideration, particularly if you appreciate personalized service and loyalty rewards.
