Home Equity Loans & Lines Of Credit Unlock the power of your home's equity with a loan or line of credit Everything and the kitchen sink Common sense says to use the tools that you already own such as the equity in your home. With a home equity loan or line of credit (HELOC) from Bank Midwest, you have the power to cover large expenses like home improvements, funding education or paying medical bills in an affordable way. With so many ways to use the equity in your home, you can get everything you need. How you can use your equity Home Equity Term Loan A loan secured by the equity on your home or property. You’ll receive the lump-sum proceeds when your loan is closed. You can use the proceeds of the loan to pay for college expenses, home improvements or to refinance. Home Equity Term Loans are not available in Texas. Home Equity Line of Credit A reusable line of credit secured by the equity on your home or property. With a line of credit you have access to your funds when you need them, like a credit card, but with lower interest rates. The perfect solution for home improvements, paying medical bills or even paying off high-interest credit card debt. Home Equity Lines of Credit are not available in Texas. Compare the features and benefits of our Home Equity Loans and Home Equity Lines of Credit You’ll also need: Home Equity Application Disclosure What You Should Know About Home Equity Lines of Credit Ready To Apply? Fill out this form to have a banker give you a call about applying for a Home Equity Loan or Line of Credit. This field is hidden when viewing the formReady to get Started? Let's Talk.First Name(Required)Last Name(Required)Address(Required) Street Address Address Line 2 City State AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming ZIP Code Email(Required) Phone(Required)Best Time to Call Hours : Minutes AM PM AM/PM Δ Compare Home Equity Loans and Home Equity Lines of Credit Home Equity Line of CreditHome Equity Term Loan Closing costs1Bank Midwest will pay up to $500 in closing costs.Bank Midwest will pay up to $500 in closing costs. Annual fee$50 (waived if automatic payment initiated from a Bank Midwest account) Maximum loan-to-value80%2,385%2,4 Funds accessibilityOnline banking By mail At a banking center Checks we provideLump sum at closing Application processApply at banking centerApply at banking center Hazard insurance is required for the property that secures the HELOC. Flood insurance is required for properties in special flood hazard areas. Required payments do not include amounts for taxes and insurance premiums. You will be responsible for annual taxes and insurance. 1Bank Midwest will pay up to $500 in closing costs on home equity loans and lines of credit. Third party closing costs may apply. 2Maximum CLTV is subject to credit score and overall collateral approval. 3Max CLTVs for HELOCs: $10,000-$100,000 is 80%, $100,001-$250,000 is 75%, $250,001-$350,000 is 70%, $350,001-$500,000 is 65%. 4Max CLTVs for Home Equity Loans: is $15,000-$100,000 is 85%, $100,001-$150,000 is 80%, $150,001-$250,000 is 75% Please contact Bank Midwest for more details.
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