HOME EQUITY LOAN

Enjoy all of life’s moments.

Tap into your equity and worry less about expenses.

Apply now

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.

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Competitive rates

Today’s Home Equity Loan rates

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Xtraordinary

Simply Free

Teen

Monthly yield

Up to 5.00% APY‍1

0.00% APY

Up to 2.00% APY‍2

Requirements to earn yield

Yes

None

None

No monthly fees
Monthly rebates of ATM provider surcharges‍3

$15

None

None

Free Connexus ATM transactions

Unlimited

Unlimited

Unlimited

Free Co-op & MoneyPass® ATM transactions‍4

Unlimited

Unlimited

Unlimited

Free Contactless Visa® debit card
Convenient Digital Banking access
Free statements
Free overdraft transfers with linked accounts

Apply now

Apply now

Apply now

 Apply for a Home Equity Loan

Calculators

Need to know

Home Equity Loan requirements

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.

Difference Between Home Equity Products
Home Equity LoanHELOC
Fixed Interest RateX
Variable Interest RateX
Withdraw Money as You Need ItX
Receive All the Money at OnceX
Pay Interest Only on the Amount You AdvanceX
Interest-Only Payment OptionX
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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.

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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.

I don’t know which Home Equity product is best for me. How do I choose?
If you’re unsure which product is right for you, our team can provide a personalized recommendation based on your financial situation. Call 800.845.5025 to get started.
How much equity do I need in my home to get started?
You generally need to have at least an 80% Loan-to-Value ratio after the loan in order to be considered. That means you must have made enough payments on your home to own at least 20% of it. If you have 20% equity, you’re more likely to be considered for a Home Equity Loan or Line of Credit. For more detailed information, please call our team at 800.845.5025.