Man reflooring a room

Home Equity Line of Credit


An equity option for ongoing home projects and more

Enjoy waived closing costs up to $400* now through June 30, 2020*

An Ideal CU Home Equity Line of Credit (HELOC) lets you 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. You'll enjoy 24/7 access to your funds using Ideal Digital Banking — Simply transfer funds directly from your HELOC into your savings or checking account.

  • 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 today

Apply now to open your Home Equity Line of Credit. Once opened, you'll be able to draw on your funds at any Ideal CU branch, by phone at 651-770-7000, or by using Ideal Digital Banking.

Apply online

Ideal Home Equity

*APR is Annual Percentage Rate. 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. Minimum credit score of 660 is required. 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. Closing costs range from $500 to $2,000. Maximum loan amount is $350,000.