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*
Fixed Home Equity Installment Loan¹ (up to 80% property value)	Up to 20 years	6.456% - 8.411%**
Fixed Home Equity Installment Loan² (up to 90% property value)	Up to 20 years	7.207% - 9.788%**
Flexible 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.	7.298% - 9.293% (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 6.456% APR, monthly payments would be $390.92. 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 7.207% APR, monthly payments would be $397.99. 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	Flexible 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	10-year draw and up to 15-year repayment period	Up to 20 years
Annual Percentage Rate	Variable Rate, with the option to lock part or all of your HELOC balance into a fixed rate ²	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.

*Flexible Home Equity Line of Credit: Minimum Annual Percentage Rate (APR) Floor of 4.00%. Maximum APR is 12.00%. APR is variable, subject to change monthly and 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. Not eligible for multi-family properties. Subject to qualification. Eligible for homes in Minnesota and Wisconsin only. Borrowers may request to convert up to three fixed-rate segments at any given time; rates for fixed rate loan segments are determined at the time of the request. A $250.00 processing fee applies for each fixed-rate segment established. Consumer should consult a tax advisor regarding the deductibility of interest and charges. Closing costs range from $500 to $2,000. Waived closing costs up to $800.00 on home equity applications taken between 10/01/2025 and 12/31/2025 and must close by 03/01/2025. This special discount is not transferable. Ideal RenoFi loans are not included in this promotion.

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 6.456% APR, monthly payments would be $390.92. Payments do not include amounts for property taxes and hazard insurance, and the actual payment obligation will be higher. On a $20,000.00 loan with a 5 year term up to 90% property value at 7.207% APR, monthly payments would be $397.99. Maximum loan amount is $450,000. Closing costs range from $500 to $2,000. Maximum loan amount is $450,000. Eligible for homes in Minnesota and Wisconsin only. Consumer should consult a tax advisor for further information. Closing costs range from $500 to $2,000. Waived closing costs up to $800.00 on home equity applications taken between 10/01/2025 and 12/31/2025 and must close by 03/01/2025. This special discount is not transferable. Ideal RenoFi loans are not included in this promotion.