Home Equity Loans & Line of Credit

Let your home do the work for a change

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)

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
  • Interest paid may be tax deductible
  • No application fees or closing costs for loans of $25,000 or more
  • Annual fee of $50
  • Owner-occupied residences in Illinois, Indiana 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 and 10 year terms
  • Borrow from $5,000 up to $500,000 with a fixed rate
  • No application fees or closing costs on loans of $25,000 or more
  • Owner-occupied residences in Illinois, Indiana 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 or Missouri


*Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral. No closing costs unless the loan is less than $25,000.  Property insurance is required.  A $50 annual maintenance fee will be charged on open lines of credit; occurring on the origination date. Home Equity Loans and Home Equity Lines of Credit, must be secured by owner occupied real estate, in IL, IN, and MO. Consult your tax advisor regarding the deductibility of interest.  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.  Offer excludes all loans already financed at HACU.