Home Equity Loans
Home Equity Line of Credit: Rates as low as 3.50% APR*1
Home Equity Loan: Rates as low as 3.95% APR*1,2
If you are a homeowner, we offer several types of loans that can help you get the things you need, and may be tax-deductible (consult your tax advisor for interest deductibility details).
- Home Equity Lines of Credit (HELOC) allows members to borrow against their home's accumulated equity. This option is perfect for someone who needs cash at several different times, but wants the interest to be lower than most credit card rates.
- Home Equity Loan/Second Mortgage lets members borrow against the equity in their home for most any purpose, from consolidating debt to purchasing a cabin up north. It has a low fixed rate and no annual fees.
1. APR means annual percentage rate. The rate you receive may be different that the rate above based on the applicants credit, repayment history and length of repayment. Closing cost range is usually $150-$600. Annual fee (Line of Credit Only) is $50. Maximum APR is 18%. Property must be located in Minnesota and property insurance is required.
2. Home Equity Loan Payment Example: For every $1,000 borrowed at 3.95% APR over 15 years the payment is $7.38 per month. This loan has a five year balloon and 15 year amortization, meaning the loan matures and the balance is due in five years, however the payment is based on a 15 year term.
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Routing # 296076084 • Toll-Free 800-229-2848