Home Equity Lines & Loans

Make your home equity work harder for you

Compare your options

Access the equity in your home and use it to fund home improvements, major expenses, debt consolidation or even a much-deserved vacation.

Limited Time Offer: Save up to $700 OFF Closing Costs! Special offer available on a NEW Home Equity Loan or Line of Credit, now through February 29, 2024.

Effortless debt consolidation and more, with our exclusive Home Equity Offer! See details

 

Home Equity Line of Credit

Borrow funds against your home's equity when you need it. This is a great option for ongoing home improvement projects, sudden expenses or just to have quick access to your funds in case of an emergency.

  • Borrow up to 90% of property value
  • Enjoy a competitive variable rate
  • 10-year draw and up to 15-year repayment period
  • Maximum loan amount of $350,000

Apply OnlineLearn More


Fixed Home Equity Loan

Cover a large expense or home project all at once. This loan option can also help you to consolidate debt at a lower rate to help you save more while paying it off faster.

  • Fixed-rate and payments
  • Repayment terms up to 15 years
  • Borrow up to 90% of property value

Apply OnlineLearn More


renofi

Convenient Solutions for Your Home Renovations

Ideal Credit Union has partnered with RenoFi to provide members an option to get the most money and lowest monthly payment for your home renovation. We’ve designed RenoFi Loans in a way that makes life much easier for homeowners and their general contractors. Once approved, homeowners receive 100% of cash up front. No draws, no inspections.

  • Choose between HELOC and Fixed Rate Home Equity Loan options
  • Borrow up to 90% of the after renovation value of your home
  • Home equity line of credit option offers a 10-year draw and up to 15-year repayment period1
  • Fixed-rate home equity loan terms up to 15 years2
  • No repayment penalty

Find out how much you can borrow!

Learn More

 

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Why choose Ideal Credit Union

What people are saying

"The process of buying a home alone is stressful and confusing but Ideal Credit Union made the process so much easier. Everyone was very quick and informative, and answered all of our questions. Would highly recommend."

-Mary L., Ideal CU Member

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Why choose Ideal Credit Union

What people are saying

"Ko Xiong was Great! He was so knowledgeable, always available to answer questions and kept us well informed during the whole process. We love our new home! Thank you Ko and Ideal Credit Union!!!!"

-Kelley B., Ideal CU Member

Fixed Rate Home Equity Loan: Some housing exceptions apply. Rates subject to change at any time. Properties must be owner-occupied. Payment example: On a $20,000.00 loan with a 5 year term up to 80% property value at 6.875% APR*, monthly payments would be $394.85. On a $20,000.00 loan with a 5 year term up to 90% property value at 7.625% APR*, monthly payments would be $401.95. Maximum loan amount is $350,000. Closing costs range from $500 to $2,000. Maximum loan amount is $350,000. Eligible for homes in Minnesota and Wisconsin only. Consumer should consult a tax advisor for further information. Waived closing costs up to $700.00 on home equity applications taken between 01/03/2024 and 02/29/2024, and must close by 04/15/2024. This special discount is not transferable. Maximum loan amount is $350,000. Ideal RenoFi loans are not included in this promotion.

Home Equity Line of Credit: Minimum Annual Percentage Rate (APR) Floor of 4%. Maximum APR is 12%. APR calculation is subject to change monthly and is based on the Prime Rate as published in the Wall Street Journal. Required payments are calculated at 1% of the outstanding balance. Maximum loan amount is $350,000 with a 10-year draw period and up to 15-year repayment period. Properties must be owner-occupied. Eligible property types include SFD and Townhomes (up to 90%), and condos (up to 80%); Not eligible for multi-family properties. Some housing exceptions apply. Consult a tax advisor regarding the deductibility of interest. Closing costs range from $500 to $2,000. Waived closing costs up to $700.00 on home equity applications taken between 01/03/2024 and 02/29/2024, and must close by 04/15/2024. This special discount is not transferable. Maximum loan amount is $350,000. Ideal RenoFi loans are not included in this promotion.

*APR is Annual Percentage Rate. Rates subject to change at any time.