HOME EQUITY LOAN
Enjoy all of life’s moments.
Tap into your equity and worry less about expenses.
Questions? We can help.
Why use a home equity loan
What is a Home Equity Loan, and how can I use it?
A Home Equity Loan allows you to borrow a specific amount of money, which you receive all at once. It also provides a fixed rate, locking in your monthly payment.
Wondering what you can use it for? Here are just a few examples.
Home Improvements
From a kitchen or bath remodel to a new roof or driveway, turn your dream home into a reality.
Debt Consolidation
Clean up debt by consolidating it into one payment, often with a lower interest rate.
Consistent Payment
While your expenses might be unexpected, your rate and monthly payment don’t have to be.
Have something else in mind? Book a call with one of our expert lenders to discuss your options. Then, complete our simple application process in just a few minutes. In most cases, a home appraisal is not required.
Book a callApply for a Home Equity LoanCompetitive rates
Today’s Home Equity Loan rates
Calculators
- What will my monthly payment be? Plug in a few details to determine the cost of your monthly Home Equity Loan payment.
- How does Connexus compare? When comparing loans, there are several variables to consider. See how we stack up to other financial institutions.
Save $287 By Choosing Connexus*
Source: Datatrac. Rates as of April 02, 2025Our Rates
National Average
Big Savings
Need to know
Home Equity Loan requirements
Location
You can get a Connexus Home Equity Loan on eligible properties throughout the United States, except those in Hawaii, Alaska, Maryland, and Texas.
Property
You can use a Home Equity Loan for eligible properties owned for at least 6 months, including primary residences and second homes (if the second home is at least 50 miles from the primary residence). Investment properties are not eligible.
For additional details, see our FAQs
Financial Health
Our lenders will review your credit circumstances, including your debt-to-income ratio.
What is my debt-to-income ratio?
Loan Qualifications
To be considered for a Home Equity Loan, you must have at least 10% equity in your home. Qualified applicants may borrow up to 90% of their home’s value. Loan limits may apply; please contact a lender for more details.
Questions about your eligibility? Book a call
What’s best for you
Not sure if a Home Equity Loan is right for you?
We also offer a Home Equity Line of Credit (HELOC). Visit our HELOC page to learn more about this option. Then, decide which one is best for you and apply today.
| Home Equity Loan | HELOC | |
|---|---|---|
| Fixed Interest Rate | X | |
| Variable Interest Rate | X | |
| Withdraw Money as You Need It | X | |
| Receive All the Money at Once | X | |
| Pay Interest Only on the Amount You Advance | X | |
| Interest-Only Payment Option | X |
Book an Appointment
Questions? We can help.
Questions about whether a HELOC or Home Equity Loan is right for you? Book a call with one of our expert lenders to discuss your options.
Blog
Learn more about Home Equity Loans
The Differences Between Home Equity Products
Find out the differences between Home Equity Loans and Lines of Credit, and discover what they’re commonly used for.
Home Equity 101: Everything You Need to Know
How much do you know about home equity? We’ll break down the key factors, so you can make the most of this resource whenever you need it.
Cash-Out Refinance vs. Home Equity Loan: What’s The Better Option for You?
Two common ways that homeowners turn equity into money are a Home Equity Loan or a cash-out refinance. This blog will cover the basics of these two options and help you determine which is right for you.
FAQs: You asked. We answered.
Home Equity Loans & HELOCs
Can I protect myself with Life, Disability, and Unemployment coverages on my loan?
Yes, debt protection is available for all Home Equity Loans and Lines of Credit. See more info about our coverages or start a claim now.
Can I get a Home Equity Loan or HELOC for my second home or one of my investment properties?
We do not offer Home Equity Loans or HELOCs for investment properties; however, you can get a Home Equity Loan or HELOC for a second home if the property meets our eligibility standards. Eligible property types include primary residences and second homes (located at least 50 miles from the primary residence). Properties must be one of the following: single-family homes, 2-4-unit condominiums, owner-occupied duplexes, or townhouses.
Can I get a Home Equity Loan or HELOC anywhere in the United States?
You can get a Home Equity Loan or HELOC for properties throughout the United States, with the exception of properties in Hawaii, Alaska, Maryland, and Texas.
How are my HELOC payments determined?
Your payment will be 1.5% of the amount borrowed. If you have a credit limit of $20,000, but only draw out $5,000, you would pay 1.5% on the $5,000 balance. If you have an interest-only HELOC, the monthly payment will be the interest accrued during the month.