Home Equity Line of Credit
Rates as low as 5.99% APR*
Tap into the equity built in your home and access cash when you need it most.
A home equity line of credit is a very affordable way to borrow and you can use the money for almost any purpose; remodeling, vacation, repairs, tuition or to pay off those expensive credit cards.
Using the equity you have in your home as collateral, you can borrow money at a very low interest rate. With a HELOC (Home Equity Line of Credit) you borrow and make payments just on what you need. You can repay and borrow on your HELOC again and again during the draw period – typically 10 to 15 years without re-applying.
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Whether you are remodeling your home, making upgrades and improvements, or need extra cash for college tuition or even a car purchase, let SMW Financial help. Our Home Equity Line of Credit program offers the following benefits:
- Draw on your line as needed without the need to re-apply
- Easy access to funds
- Interest charged only on the amount you borrow
- Financing available for up to 90% of your home's value
- 15 year draw period
To get started today just call one of our expert Loan Officers:
Matt at (651) 747-1565 in Lino Lakes
Nick at (651) 747-1512 in Maplewood
Victor at (651) 747-1513 in Maplewood
*APR= Annual Percentage Rate. All HELOC loans offer a 15 year draw period followed by a 15 year repayment period. Minimum payment 1% of loan balance or $100 whichever is lower. Rate varies with the Wall Street Journal Prime. Maximum rate adjusted plus or minus 2.00% per adjustment period if the WSJ Prime changes. All rates are quoted on approved credit as Annual Percentage Rates (APRs) and may be subject to pricing add-ons related to credit score. APR includes $50 annual fee. Loan approval is subject to credit, income and property valuation. All HELOCs are variable rate loans and rates are subject to change daily and without further notice. The maximum rate ceiling is 18.00%. Loan closing fees and costs range from $200- $2,000. Property insurance is required. Promotion offered for a limited time and may be discontinued at any time without notice. HELOCs available exclusively for primary residences in MN or WI. Equal Housing Lender