Interest Only Home Equity Line of Credit
You’ve earned equity. Now leverage it with a HELOC that lets you borrow on demand with a low minimum monthly payment.
Tap. Repay. Repeat.
Apply once and use your interest-only HELOC to borrow, repay, and borrow again up to your available credit line. Pay only interest during the 10-year draw period and get up to 20 years for repayment – ideal if you want a low minimum monthly payment.1
- Take tax deductions on interest paid
- Receive checks to draw from your interest-only HELOC
- Access account via Online or Mobile Banking
Debit Card Rewards
Enjoy exclusive savings on everything from apparel to travel, courtesy of our debit card rewards program – a small “thank you” for your membership.
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Get member-exclusive discounts on tax services from TurboTax® and H&R Block,® and estate plans from Trust & Will. -
Each time you use your debit card or bill pay or write a check, we’ll round up and transfer that amount from checking to a savings account.
Disclosure:
1APR=Annual Percentage Rate. Rates are subject to change at any time. Interest Only up to 80% CLTV floor rate is 4% and maximum is 16%. Interest Only 80.01-90.00% CLTV floor rate is 6% and a maximum of 18%. Interest only rates vary from prime plus 1% to prime plus 4.50%. 80% CLTV Product is available in IL, WI, IN, AZ, CA. 80.01%-90.00% CLTV Product is available in IL, IN and WI. 80.01-90.00% CLTV is only valid for direct member applications, and owner-occupied properties. Property insurance is required. Flood insurance may be required. Consult your tax advisor about the deductibility of interest. Borrower is responsible for all closing cost fees. Closing costs will be advanced from the available Home Equity Line of Credit.
2Rates may change monthly based on rates published in the Money Rates column of the Wall Street Journal. Your initial APR for an Interest Home Equity Line of Credit will be calculated by adding the appropriate margin to the prevailing Prime Rate (index) as published in the Money Rates column of the Wall Street Journal as of the date your documents are prepared. The initial rate will remain in effect until the first rate change date as described. The subsequent APR is a variable rate based on the highest Prime Rate as listed in the Money Rates Section of the Wall Street Journal on the first business day of the month, which was 7.75% on 11/08/2024.
3$50 annual fee after first year and $100 minimum monthly payment. Other fees may apply, please reference our fee schedule.
View and download the Home Equity Early Disclosure.
View and download the What You Should Know About HELOC Disclosure.
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