Home Equity Loan Rates

Rates current as of January 1, 2020.

Fixed Rate (Up to 90% of Value)
5 Year Amortization
4.79% APR*
10 Year Amortization
4.99% APR*
15 Year Amortization
5.29% APR*
20 Year Amortization
5.79% APR*
Payment example: A 20 year $30,000 fixed rate home equity loan at 5.79% APR has an approximate monthly payment of $211.35. Other terms and amounts are available.
Variable Rate (Up to 90% of Value)
Home Equity Line of Credit
Payments: 1.5% of principal balance owed on the monthly billing date (minimum payment $75). Loan term is 30 years, final balloon payment may be required depending on actual usage. Rate offered subject to change monthly for new loans. Maximum rate 18%.
4.75% APR*
Interest Only Home Equity Line of Credit
Payments: interest only based on principal balance owed on the monthly billing date for 30 years with final balloon payment for principal balance. Rate offered subject to change monthly. Maximum rate 18%.
5.25% APR*
Fixed Rate (Up to 80% of Value)
1 Year All Due Note
Payment example: A 1 year $20,000 note would have 11 interest only payments varying between $88.22 and $97.67 ($50 minimum) followed by a single final interest payment and a $20,000 balloon payment.
5.75% APR*

* APR = Annual Percentage Rate.

Home financing is 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. Closing costs may vary from $0-$1500. Payment does not include amount for taxes & insurance and the actual payment obligation may be greater.

NMLSR ID 440195

Equal Housing Lender Equal Housing Lender
Equal Housing Lender Equal Housing Lender

Member FDIC - NMLSR ID 440195

Bank smart, live well.

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 financial advisors of Think Financial Planning offer securities and advisory services through Commonwealth Financial Network®, member FINRA/SIPC, a Registered Investment Adviser. Investments are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Funds are subject to investment risks, including possible loss of principal investment. Think Mutual Bank is not a registered broker-dealer or Registered Investment Adviser. Think Mutual Bank and Commonwealth are separate and unaffiliated entities. Fixed insurance products and services offered by CES Insurance Agency, Think Insurance, or Think Financial Planning. Think Financial Planning is headquartered at 5200 Members Pkwy NW, Rochester, MN 55901. Check the background of this firm on FINRA's BrokerCheck.

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, IL, IN, IA, KS, KY, MA, MD, MI, MN, MO, MT, 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.