Home Equity Line of Credit

Get to your money quickly and easily with a Home Equity Line of Credit or Interest Only Home Equity Line of Credit. The flexibility allows you to access funds when you need them - in a way that works best for you.

Home Equity Line of Credit

Benefits:

  • Offers a very competitive rate.
  • Borrow only how much you need and when you need it.
  • Easy access to funds with Online Banking or Home Equity checks.
  • Great for recurring expenses like college tuition or for large scale remodeling projects.
  • Flexibility that allows you to advance the line of credit in a way that works best for you.

Features:

  • Variable rates.
  • Allows you to borrow up to an established limit.
  • Advances can be done in person, on the phone, online or by check.
  • Payments are 1.5% of principal balance owed on the billing date (minimum payment of $75.00).

How to apply:

Apply online, visit one of our branch locations or call us at 1-800-288-3425.


Monthly payment is 1.5% of the principal balance owed on the monthly billing date (minimum payment $75). 4.75% 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 4/1/2018.

Interest Only Home Equity Line of Credit

Benefits:

  • Offers a very competitive rate.
  • Borrow only how much you need and when you need it.
  • Easy access to funds with Online Banking or Home Equity checks.
  • Great for recurring expenses like college tuition or for large scale remodeling projects.
  • Flexibility that allows you to advance the line of credit in a way that works best for you.

Features:

  • Variable rates.
  • Allows you to borrow up to an established limit.
  • Payments are the accrued interest on the line of credit and you have the option to not pay any amount towards the principal.
  • A single balloon principal only payment at the end of the loan.
  • No minimum monthly payment.

How to apply:

Visit one of our branch locations or call us at 1-800-288-3425.


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. 5.25% APR* subject to change monthly. Maximum rate 18% APR*. Financing available up to 90% of value for qualified customers. Rate current as of 4/1/2018.

* APR = Annual Percentage Rate. Payment does not include amounts for taxes & insurance and the actual payment obligation may be greater. Origination fees 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.

Click here to view home equity disclosures and current rates.

1-800-288-3425
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Think Mutual Bank

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Insurance products are offered through Think Insurance (MN license # IA-538), not Think Mutual Bank. Insurance products are not FDIC insured, are not insured by any federal agency, and are not a deposit or guarantee of Think Mutual Bank. This is not a policy. For a complete statement of coverages and exclusions, please see the policy contract.

The Investment Professionals of Think Financial Planning are Registered Representatives and Investment Adviser Representatives with/and offer Securities and Advisory Services through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered by CES Insurance Agency. Investments are not FDIC insured, not bank guaranteed, not insured by any federal agency and may lose value. Check the background of this firm on FINRA's BrokerCheck. Think Financial Planning is headquartered at 5200 Members Pkwy NW, Rochester, MN 55901.

This information is provided for new customers who live or work in Minnesota, and for existing customers residing in the states of AR, AZ, CA, CO, FL, GA, IL, IN, IA, KS, KY, MA, MD, MI, MN, MO, MT, NE, NM, NV, NY, ND, NC, OH, PA, SD, TN, TX, UT, VA, WA, WI, WY. No offers may be made or accepted from any resident outside of these states due to various state regulations and registration requirements regarding investment products and services.