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
Check out our options below or give us a 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 change
Leveraging the equity within your home can lead to securing a more favorable interest rate for your various undertakings and financial needs. Opt for a home equity loan to receive a lump-sum amount, or consider a home equity line of credit which allows you to withdraw funds as required.
Both a home equity loan and a line of credit offer avenues to fund your existing or forthcoming financial obligations. These can encompass home improvement projects, merging debts, covering educational fees, managing medical expenditures, and facilitating the purchase of a new car.
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 are available 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
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85% Home Equity Loan
As the value of your home increases, so does your borrowing power. Finance home improvements, purchase a new car, consolidate your 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
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100% Home Equity Loan
Borrow up to the full value of your home, less than 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
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*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 6.99% APR, $86.55 per $1,000 borrowed.
