Home Equity

Home Equity 03.2023

According to Zillow, 72% of homeowners will consider at least one home improvement project this year1

Tap into the equity of your home to help pay for those projects without disrupting the low rate of your first mortgage.  

  • No upfront costs
  • No annual fee
  • Use for primary or second homes
  • Fixed rate available 

See our options below or call us today and we'll help you find what the healthiest financial choice is for you! 

Home Equity Loans & Line of Credit

Let your home do the work for a changeHome Equity

The equity in your home can help you pay a lower interest rate for your projects and expenses. Choose a home equity loan for a lump-sum payment or a home equity line of credit to take out money as you need it.

A home equity loan or line of credit can help you finance current or upcoming expenses, such as home projects, debt consolidation, education expenses, medical costs and new car financing.

Home Equity Line of Credit (HELOC)

Low rates, no closing costs*, no annual fee and no application fee*.  With this loan, you can borrow up to 85% of your home's value. Credit limits from $5,000 to a generous $500,000 so you'll have the resources you need, when you need them. Advantages include:

  • Low variable interest rates
  • No application fees 
  • No closing costs for loans of $25,000 or more
  • Owner-occupied residences in Illinois, Indiana, Wisconsin or Missouri



85% Home Equity Loan

As the value of your home increases so does your borrowing power. Finance home improvements, buy a new car, consolidate debt or student loans, pay tuition bills or enjoy a dream vacation.

  • 5, 10 and 15 year terms
  • Borrow from $5,000 up to $500,000 with a fixed rate
  • No application fees
  • No closing costs on loans of $25,000 or more
  • Owner-occupied residences in Illinois, Indiana, Wisconsin or Missouri


100% Home Equity Loan

Borrow up to the full value of your home, less what you currently owe.

  • 5, 7 and 10 year terms
  • Loan amounts from $5,000 up to $40,000
  • Borrow up to 100% of your home's value, less mortgage debt
  • Owner-occupied residences in Illinois, Indiana, Wisconsin or Missouri


*APR = Annual Percentage Rate. Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral. Property insurance is required. Home Equity Loans and Home Equity Lines of Credit must be secured by owner occupied real estate, in IL, IN, MO and WI. Minimum $5,000 to open a Home Equity Loan or Line of Credit. Minimum Loan/Line amount of $25,000 in new money to avoid closing costs. If you should close your Home Equity Line of credit within 24 months, you must reimburse HACU for bona-fide third party fees up to $900. For loan/line amounts of less than $25,000 you will pay processing costs up $900. Refer to hacu.org or call our loan department for additional information. Additional disclosures will be sent after application is received, please retain a copy for your records. Payment example: 12-month term rate of 6.50% APR, $86.28 per $1,000 borrowed 
*% as low as based on prime
APR 6.50%*
View all loan rates

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