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Home Equity Loans & HELOCs2021-08-16T07:30:22-05:00

Home Equity Loans
Upgrade your home — or your life.

Use your equity for renovations, credit card debt, medical bills, tuition, vacations, and more.

Apply in Minutes

Call 800.845.5025 or schedule a chat with a lender

Benefits of a Home Equity Loan

Flexibility of Use

Use the funds from your Home Equity Loan for home renovations or repairs, college tuition, consolidating debt, vacations, and more – you decide!

Fixed Rate & Payments

Your interest rate and monthly payment amount will not change over the course of your Home Equity Loan, making budgeting a breeze.

Personal Attention & First-Class Service

Within 24 hours of applying, a personal lender will reach out to get the process started and will be available to chat whenever you have questions. To speak with a personal lender with Home Equity Loan expertise today, book an appointment.

Quick & Easy Application Process

Most Home Equity Loans can be processed entirely online in just minutes and do not require a home appraisal.

Apply Now

Nicole

Wisconsin

“When my kitchen flooded, I needed funds to repair the damage – and fast! The process couldn’t have been easier with Connexus. I filled out the application online, the appraisal was completed online, and I had my funds within ten days of applying.”

Lowest Available Rates

Home Equity Loan Rates
ProductRates as low asAPR
Home Equity Loan13.49%4.26%
Home Equity Line of Credit (HELOC)3.49%3.49% for 6 months2 (4.14% thereafter)
Interest-Only HELOC3.49%3.49% for 6 months3 (4.64% thereafter)
5/1 Adjustable-Rate Mortgage (ARM)4.24%4.516%4
Accurate as of 08/16/20211

Calculators

Which Home Equity Product is Best for You?

Home Equity Products
 Home Equity LoanHELOCInterest-Only HELOC5/1 ARM
Helpful IfYou need a specific amount right nowYou need money over timeYou need money over timeYou need a specific amount right now
How it WorksBorrow up to 90% of your home’s equity and receive all the money at signingBorrow money as you need it up to your line of credit limitBorrow money as you need it up to your line of credit limitBorrow up to 90% of your home’s equity and receive all the money at signing
Rate TypeFixedVariableVariableVariable
Available Terms60-180 months15 year draw, 15 year repayment15 year draw, 15 year repayment60-240 months
Minimum PaymentDependent on loan details1.5% of amount borrowed ($25 minimum)Interest-only payment based on amount borrowedDependent on loan details

Learn More About Home Equity

FAQs: You Asked. We Answered.

How much equity do I need in my home to get started?2020-12-01T11:39:39-06:00

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.

I don’t know which Home Equity product is best for me. How do I choose?2019-04-19T15:23:52-05:00

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.

Is the HELOC rate an introductory rate?2019-04-19T15:29:50-05:00

Yes, the rates listed above for HELOCs and Interest-Only HELOCs are introductory rates. You can lock in an introductory rate for six months at 3.49% APR2 or for 12 months at 3.99% APR2 (at 80% loan to value).

Is there a minimum amount I need to borrow to receive the introductory rate?2020-03-18T12:51:33-05:00

Yes, the minimum loan amount to receive the introductory rate is $5,000.

How are my HELOC payments determined?2019-04-19T15:31:26-05:00

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.

Can I protect myself with Life, Disability, and Unemployment coverages on my loan?2020-12-01T11:40:12-06:00

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’t find what you’re looking for? Ask us!2017-08-15T16:52:05-05:00

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    Disclosures

    See our Fee Schedule for a list of fees you may encounter.

    *  Accurate as of:  . Source: Datatrac.

    1Advertised rate reflects all available discounts and is current as of 08/16/2021. Rate is fixed for the term of the loan. Rates and terms are subject to change. Loan is subject to credit approval and actual rate is based on applicant’s credit history and terms of the loan. Borrow $50,000 at 4.74% APR for 15 years and make monthly payments of $388.66. Minimum loan amount $5,000. Credit Union membership required. Separate payment of taxes and insurance may be necessary. Depending on loan terms and property location, borrower paid closing costs can range from $175 to $2,000. Product not available in Maryland, Texas, Hawaii, and Alaska.

    2Advertised rate is available until October 2021 and includes all available discounts. Non-introductory rate is 4.14% APR and is current as of 08/16/2021. Loan is subject to credit approval and actual rate is based on applicant’s credit history and terms of the loan. After the introductory period the rate is variable and can adjust semi-annually in April and October based on a 12 week average of the 1-Year Treasury Constant Maturity Rate plus a margin; currently 4.14% APR. Maximum rate is 15.9% APR. Finance charges begin to accrue on the day an advance is made. No annual fee. Credit Union membership required. Separate payment of taxes and insurance may be necessary. Depending on loan terms and property location, borrower paid closing costs can range from $175 to $2,000. Product not available in Maryland, Texas, Hawaii, and Alaska.

    3Advertised rate is available until October 2021. Non-introductory rate is 4.64% APR and is current as of 08/16/2021. Loan is subject to credit approval and actual rate is based on applicant’s credit history and terms of the loan. After the introductory period the rate is variable and can adjust semi-annually in April and October based on a 12 week average of the 1-Year Treasury Constant Maturity Rate plus a margin; currently 4.64% APR. Maximum rate is 15.9% APR. Borrow at a variable 3.49% APR; estimated monthly payments of $28.87 per $10,000 borrowed. Finance charges begin to accrue on the day an advance is made. No annual fee. Credit Union membership required. Separate payment of taxes and insurance may be necessary. Depending on loan terms and property location, borrower paid closing costs can range from $175 to $2,000. Product not available in Maryland, Texas, Hawaii, and Alaska.

    4Advertised rate reflects all available discounts and is accurate as of 08/16/2021. Loan is subject to credit approval and actual rate is based on applicant’s credit history and terms of the loan. Rates become variable after initial 5 year term and adjust annually based on the yield of the 1 year LIBOR plus a margin. Initial monthly payments estimated at $329.93 when $50,000 is borrowed for 20 years. Minimum rate 2.49%. Annual adjustment cap 2%, and maximum lifetime cap 6% over initial rate at origination. Credit Union membership required. Separate payment of taxes and insurance may be necessary. Depending on loan terms and property location, borrower paid closing costs can range from $175 to $2,000. Product not available in Maryland, Texas, Hawaii, and Alaska.

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