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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?

  • Overview

    The choice is yours

    We offer Closed-End Home Equity Loans and Home Equity Lines of Credit so you can tap into your home’s equity. Choose the loan that works best for you below.

    Get started today. Email mortgage@heartlandcu.com or call (651) 451-5160

     

    Closed-End Home Equity Loan

    With a Closed-End Home Equity Loan, you can borrow one lump sump to use to consolidate debt, finance education expenses, make home improvements, or do 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

    Open Account Online

    Home Equity Line of Credit

    If you need money in small increments over time, 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.

    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

    Open Account Online

  • Rates
    Rates Effective as of: 12-01-2021

    Home Equity Closed End Loan – 80% LTV

    TypeAPR*Terms
    Home Equity Closed End***3.79%Up to 5 years
    Home Equity Closed End***3.99%Up to 8 years
    Home Equity Closed End***4.39%Up to 10 years
    Home Equity Closed End***4.74%Up to 15 years

    *APR is annual percentage rate. Auto pay from an active Heartland Checking account is required to receive the lowest quoted rate on collateral, home equity closed end, and signature loans. Add .25% without auto pay. These rates are in effect as of 9/1/2021 and are subject to change.

    ***Rates may vary based upon credit history. Other terms are available. Please contact the Heartland loan department for details regarding how your rate and term is determined. Closing cost range for the Home Equity Closed End is $100 – $750.

    Rates Effective as of: 12-01-2021

    Home Equity Closed End Loan – 90% LTV

    TypeAPR*Terms
    Home Equity Closed End***4.99%Up to 5 years
    Home Equity Closed End***5.29%Up to 8 years
    Home Equity Closed End***5.39%Up to 10 years
    Home Equity Closed End***5.69%Up to 15 years

    *APR is annual percentage rate. Auto pay from an active Heartland Checking account is required to receive the lowest quoted rate on collateral, home equity closed end, and signature loans. Add .25% without auto pay. These rates are in effect as of 9/1/2021 and are subject to change.

    ***Rates may vary based upon credit history. Other terms are available. Please contact the Heartland loan department for details regarding how your rate and term is determined. Closing cost range for the Home Equity Closed End is $100 - $750

    Rates Effective as of: 12-01-2021

    Home Equity Line of Credit – Open End

    TypeAPR*Terms
    HELOC – Up to 80% LTV**3.50%Revolving Line
    HELOC – Up to 90% LTV**4.00%Revolving Line

    *APR is annual percentage rate. Auto pay from an active Heartland Checking account is required to receive the lowest quoted rate on collateral, home equity closed end, and signature loans. Add .25% without auto pay. These rates are in effect as of 9/1/2021 and are subject to change.

    **Home Equity Line of Credit rate is variable and subject to change quarterly. The maximum APR for a Home Equity Line of Credit is 15.5% APR. Closing cost range for the Home Equity Line of Credit is $100 – $750. LTV is Loan to Value.

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

    • 15 to 45 days

Thank you again Tim Hansen for making Heartland a great credit union and a place to expect undeniably the best customer service a guest could ask for.

DeAndre

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