Home equity is the difference between how much your home is worth and how much you owe on your mortgage. You can borrow against your home's equity to fund large projects or major expenses, such as home renovations, debt consolidation, education expenses and even travel. The choice is yours!
A home equity loan and a home equity line of credit (HELOC) are both great options to finance these types of projects.
Home Equity Loan
- Perfect for paying a large one-time expense
- Gives you a fixed-term loan with a fixed payment amount every month
- $5,000 minimum loan amount
- Up to 240-month term
- Maximum loan amount of up to 100% of appraised value
- No pre-payment fee
Home Equity Line of Credit
- Ideal for when you want access to cash over time
- Allows you to draw on the line of credit for any amount at any time
- $5,000 minimum loan amount
- Maximum loan amount of up to 90% of appraised value
- Fee charged equal to closing fees if closed in the first two years
Home Equity Rates
Effective Date: Monday, December 1st, 2025
Subject to change. All rates shown as Annual Percentage Rate (APR).
| Loan | Amount | Annual Percentage Rate (APR) |
|---|---|---|
| Home Equity Loan | $5,000 minimum | As low as 6.74% APR |
| Home Equity Line of Credit* | $5,000 minimum | Prime rate + 0% variable rate with 5.99% floor |
| *Interest rate is adjusted annually. Early closure fee charged equal to closing fees if closed in the first two years. | ||
