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Home Equity Loans & HELOCs2022-11-10T15:32:13-06:00
Man and woman remodeling their house

Home Equity Loans & HELOCs

Use your equity your way.

Fund home projects, debt, medical bills, tuition, and more.

Apply now

Questions? We can help.

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

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 Loan7.24%7.45%1
Home Equity Line of Credit (HELOC)4.49%4.50% for 6 months2 (6.99% thereafter)
Interest-Only HELOC4.49%4.95% for 6 months3 (7.24% thereafter)
For 15 years1
Accurate as of 10/3/2022

Which Home Equity product is best for you?

Home Equity Products
 Home Equity LoanHELOCInterest-Only HELOC
Helpful IfYou need a specific amount right nowYou need money over timeYou need money over time
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 limit
Rate TypeFixedVariableVariable
Available Terms60-180 months15 year draw, 15 year repayment15 year draw, 15 year repayment
Minimum PaymentDependent on loan details1.5% of amount borrowed ($25 minimum)Interest-only payment based on amount borrowed

Learn more about Home Equity

FAQs: You asked. We answered.

What is an Adjustable-Rate Mortgage?2022-09-06T07:37:24-05:00

An adjustable-rate mortgage (ARM) is type of home loan with a rate that may increase or decrease after a certain period. This means your interest rate and monthly payment may not stay the same over the life of the loan. You can learn more about ARMs on our blog.

How much equity do I need in my home to get started?2022-06-07T11:26:19-05:00

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?2022-06-07T11:31:31-05:00

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?2022-08-29T07:31:11-05:00

Yes, the rates listed above for HELOCs and Interest-Only HELOCs are introductory rates. This will lock in the introductory rate for a set period of time. Once the introductory period is over, the standard APR will apply.

Is there a minimum amount I need to borrow to receive the introductory rate?2021-11-03T12:57:13-05:00

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

How are my HELOC payments determined?2021-11-03T12:57:22-05:00

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?2021-10-15T15:09:46-05:00

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!2022-09-13T11:10:15-05:00

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    Disclosures

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

    *  Accurate as of:  . Source: Datatrac.

    APR=Annual Percentage Rate

    1Advertised rate reflects all available discounts and is current as of 10/3/2022. 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 an interest rate of 7.24% at up to 70% LTV for 15 years with estimated monthly payments of $456.15. 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 2023 and includes all available discounts. Non-introductory rate is 6.99% at 80.01%-90% LTV and is current as of 10/3/2022. 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 6.99%. Maximum rate is 15.9%. The payment is based on the outstanding loan balance on the cycle date (25th) and the minimum is 1.5% of the balance or $25 (whichever is greater). 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 2023 and includes all available discounts. Non-introductory rate is 7.24% at 80.01%-90% LTV and is current as of 10/3/2022. 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 7.24%. Maximum rate is 15.9%. Borrow $50,000 at a variable interest rate of 4.49% at 80.01%-90% LTV; estimated monthly payments of $218.75. 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.

    NMLS ID 649316
    Equal Housing Opportunity