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 Special: Rates as Low as 4.99% APR* for 6 Months!

Special offer available on a NEW Home Equity Line of Credit, now through May 31, 2024. 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

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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

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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!

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Ideal Home Equity

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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

1 Home Equity Line of Credit: Minimum 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 $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. Closing costs range from $500 to $2,000. Maximum loan amount is $350,000. Eligible for homes in Minnesota and Wisconsin only. The consumer should consult a tax advisor for information regarding the deductibility of interest and charges.

2 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.

*APR = Annual Percentage Rate. Intro rate shown of 4.99% is for homeowners up to 90% combined loan-to-value (CLTV).  APR will be fixed during the 6-month introductory period. After the first six (6 ) 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 4.99% 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%. An increase in the Index will result in an increase in the periodic rate. Offer valid for applications submitted and approved March 15 through May 31, 2024. Loan must close on or before June 30, 2024 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 $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. 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.