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Home Equity Loans

Turn equity into cash

You work hard for your home, so why not make it work for you?

    Harness Your Home’s Equity: Choose Your Preferred Loan Option

    We offer Closed-End Home Equity Loans and Home Equity Lines of Credit so you can tap into your home’s equity, the way you prefer. Learn more about each option below.

    Closed-End Home Equity Loan

    With a Closed-End Home Equity Loan, you can borrow one lump sum and lock in the rate for a consistent monthly payment. Use it to pay off high-rate debt, such as credit cards,  pay for higher education, make home improvements, or anything else you need—the possibilities are endless! Plus, the interest you pay is often tax deductible, which saves you money.

    You Get:

    • Low fixed rate
    • Variety of terms to choose from ranging from five to 15 years
    • Borrow up to 90% of your home’s value minus any outstanding loans against the property
    • Low closing costs, ranging from $100-$750.

    Start Application – Home Equity

    Home Equity Line of Credit

    If you want the flexibility to use funds as you need them, such as to pay for your child’s education every semester, our Home Equity Line of Credit is a great option. Similar to a credit card, this line of credit provides a balance that you can draw from when you need to, but at a lower rate than a credit card.

    You Get:

    • Competitive variable rates that could adjust quarterly
    • Five years to borrow from your line of credit, and 10 years to repay what you’ve borrowed
    • Borrow up to 90% of your home’s value minus any outstanding loans against the property
    • Low closing costs, ranging from $100-$750.

    Start Application – Line of Credit

We opened a home equity loan and Patty made it very easy. She let us know everything that we would need to close this loan and it was a joy to work with Patty. Very informative!

Patrick

Frequently Asked Questions

  • You can use a Home Equity Loan for a variety of things. Here are a few examples to consider:

    • Home Improvements. Use your equity to finance projects like a kitchen remodel. It will not only make your home more comfortable for you, it could raise the home’s value and attract buyers in the future.
    • Pay Off Debt. Use your equity to pay off high-interest-rate debt, such as credit cards. Home equity loan rates are usually much lower than credit cards so you’ll save money while you pay off your debt. Plus, combining all of your credit card balances together will give you one easy-to-manage payment each month.
    • Purchase a Cabin or Second Home. Use your equity as a down payment on a cabin or second home. Or, if you’re current home is paid off, use the equity as an all-cash offer on a cabin or second home — giving you an advantage over other buyers.
    • Higher Education Expenses.
    • Medical Bills.
  • Home equity is the amount of your home that you actually own. Specifically, equity is the difference between what your home is worth and what you owe your lender. As you make payments on your mortgage, you reduce the balance of your loan and you build equity.

  • The Home Equity, Home Improvement and Home Free loans all have fixed rates. Home Equity Lines of Credit are Variable.

  • 15 to 45 days

Apply online in minutes.

Home Equity Loans Disclosures

Home Equity financing available in Minnesota and Wisconsin only.