Fixed Home Equity Loans

Make your home equity work harder for you

Why choose a fixed home equity loan?

A home equity loan allows you to use your home as collateral to borrow money for home improvements, large expenses, debt consolidation and more. Home equity loans often feature lower rates than other types of loans. Some other benefits include:

Fixed rates and payments
Repayment terms up to 20 years
Borrow up to 90% of the property value
Funds are disbursed in one lump sum

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Simply apply online and we'll be in touch to help you get the financing you need for your next project or expense.

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Home Equity Rates

Rates as of:

Home Equity Type	Term	APR*
Home Equity Installment ¹ (up to 80% property value)	Up to 20 years	6.375% - 8.411%**
Home Equity Installment ² (up to 90% property value)	Up to 20 years	7.125% - 9.788%**
Home Equity Line of Credit ³ (up to 90% property value)	Up to 25 years. 10-year draw period and up to 15-year repayment period.	7.50% - 12.00% (variable rate)
No Equity Home Improvement Loan ⁴	Up to 60 months	10.74%
APR = Annual Percentage Rate. Rates subject to change at any time. *Actual rate based on applicant's payment and credit history. Additional appraisal fee may apply should one be needed. ¹Some housing exceptions may apply. Payment example: On a $20,000.00 loan with a 5 year term up to 80% property value at 6.375% APR, monthly payments would be $390.16. Closing costs range from $500 to $2,000. Maximum loan amount is $450,000. ²Some housing exceptions may apply. Payment example: On a $20,000.00 loan with a 5 year term up to 90% property value at 7.125% APR, monthly payments would be $397.21. Closing costs range from $500 to $2,000. Maximum loan amount is $450,000. ³Minimum Annual Percentage Rate (APR) Floor of 4.00%. Maximum APR is 12.00%. 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 $450,000 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. Closing costs range from $500 to $2,000. Maximum loan amount is $450,000. The consumer should consult a tax advisor for information regarding the deductibility of interest and charges. ⁴Maximum loan amount is $25,000. Offer is subject to normal credit qualifications. Payment Example: On a No Equity Home Improvement Loan with a term of 5 years at 10.74% APR, monthly payments would be $540.33 based on $25,000 borrowed.

Compare Home Equity Loans

Features	Home Equity Line of Credit	Installment Loan
Description	Line of credit that you draw on in Ideal Digital Banking, at a branch or by phone.	Installment loan with a fixed term
Maximum Loan to Value¹	Up to 90%	Up to 90%
Maximum Loan Amount	$450,000	$450,000
Maximum Term	Up to 25 years.10-year draw period and up to 15-year repayment period.	Up to 20 years
Annual Percentage Rate	Variable Rate²	Fixed Rate
Minimum Monthly Payment	1% of the outstanding balance	Fixed amount, based on initial disbursement³
Access to Funds	Draw on funds right from within Ideal Digital Banking, at a branch or by phone.	Funds are disbursed in one lump sum

1. Some housing exceptions apply.
2. Minimum Annual Percentage Rate (APR) Floor of 4%, Max of 12%. APR calculation is subject to change monthly and is based on the Prime Rate as published in the Wall Street Journal.
3. Payment Example: On a $20,000.00 loan with a 5 year term up to 80% property value at 6.625% APR, monthly payments would be $392.50. On a $20,000.00 loan with a 5 year term up to 90% property value at 7.375% APR, monthly payments would be $399.58.

*New Home Equity Line of Credit: 3.99% APR for the First 12 Months. APR = Annual Percentage Rate. Intro rate shown of 3.99% is for homeowners up to 90% combined loan-to-value (CLTV). APR will be fixed during the 12-month introductory period. After the first twelve (12) months of the loan term, the introductory APR will revert to a variable APR based on the Prime Rate as published in The Wall Street Journal. Your post-promotional rate will be disclosed to you prior to signing for your line of credit. On a $10,000 home equity line of credit balance at 3.99% APR, monthly payments would be $100, 1% of the outstanding balance. After the introductory period, the minimum floor APR will be 4.00% and maximum APR will be 12%. Current APR ranges from 7.75% - 10.50%, based on the Wall Street Prime Rate which is currently 7.75%. An increase in the Index will result in an increase in the periodic rate. Offer valid for applications submitted and approved January 6 through April 30, 2025. Loan must close on or before May 31, 2025, for introductory rate to apply. This is a limited time offer and is subject to change at any time without notice. Maximum loan amount is $450,000 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. Closing costs range from $500 to $2,000. The consumer should consult a tax advisor for information regarding the deductibility of interest and charges. Offer applies to new lines of credit with Ideal CU. If refinancing an existing Ideal Credit Union Line of Credit, the limit must be increased by a minimum of $15,000 to be eligible.