Home equity loans

Equity is the difference between the current market value of your home and the amount you owe on it. You can use your home's equity to finance virtually anything, and these loans can offer tax advantages (see a tax professional for details). Since a home equity loan is secured by the equity in your home, interest rates may be lower than other loan types. We offer many options that can put your home's equity to work for you. 

Fixed home equity loan

Fixed home equity loans can be used for remodeling, educational expenses, debt consolidation, the purchase of a vehicle, and more. 

  • 5, 10, 15, and 20 year fully amortizing terms are available.
  • Fixed rate and payment for the term of the loan.
  • No origination fee.
  • No prepayment penalty.

Home equity line of credit

Home equity lines of credit give you quick access to cash and can be used for remodeling, educational expenses, debt consolidation, and vehicle purchases.  A home equity line of credit is also a great way to prepare for the unexpected as you can borrow any amount up to your established limit whenever you need it. 

  • Borrow up to an established limit at any time without the need to reapply.
  • You only pay interest on the amount of money you use.
  • Repaid funds become available to use again.
  • Access your line of credit for up to 30 years after you apply (unless you sell or refinance). 
  • Variable rate and payment.
  • No origination fee.
  • No prepayment penalty.



How to apply:

We offer several options to help you leverage the equity in your home.  Apply online, visit one of our branch locations or call us at 1-800-288-3425.


Home Equity Line of Credit: Monthly payment is 1.5% of the principal balance owed on the monthly billing date (minimum payment $75). 8.50% APR* subject to change monthly for new loans. Maximum rate 18% APR*. Financing available up to 90% of value for qualified customers. Rate current as of 7/27/2023.

Interest Only Home Equity Line of Credit: Monthly payment is interest only based on the principal balance owed on the monthly billing date for 30 years with final balloon payment for principle balance. 9.00% APR* subject to change monthly. Maximum rate 18% APR*. Financing available up to 90% of value for qualified customers. Rate current as of 7/27/2023.

* APR = Annual Percentage Rate. Payment does not include amounts for taxes & insurance and the actual payment obligation may be greater. Origination fees for other products may vary from $0-$1500. Other closing costs may apply.

Home equity loans are available to existing customers, or new customers who live or work in Minnesota, for properties located in AZ, FL, IL, IN, IA, KS, MN, MO, NE, ND, SD & WI.