Home Equity Line of Credit (HELOC)

Apply Now for A HELOC
Landmark members looking at paint swatches at a table.

Tap Into Your Home’s Equity with a HELOC

Take the equity from your home and turn it into a flexible, financing tool with a Home Equity Line of Credit (HELOC). From renovations to major expenses, a HELOC gives you access to funds when you need them. Apply today and start using your line of credit for a variety of needs.

  • Home repairs
  • Remodeling
  • Paying larger medical or education expenses
  • Debt consolidation
  • Large down payments (weddings, vacations, property, etc.)
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  • Home Equity Line of Credit Rate

    Current Rate

    • 6.50% APR1

The Versatility of a HELOC

Go ahead, renovate your kitchen, remodel a bathroom or turn your extra garage space into a home office. Whatever you’re looking to do, one of the best ways to improve your home is a home equity line of credit. With a home equity line of credit, you can borrow against your home’s value to fund any number of improvement projects all at a low interest rate.

Contact Us for more information.

Benefits of a HELOC

A HELOC is great for shifting project plans and drawing money only when you need it. Use the HELOC draw period to plan out home improvement projects, pay off sudden expenses or consolidate debt. Plus, enjoy lower rates, no annual fees1 and no to low closing costs! 

Accessing Your HELOC

There are multiple ways to access your HELOC funds including:

How the HELOC Process Works

  • 1. Research Your Options

    Connect with one of our home equity experts to understand how much you can borrow. We’ll calculate your loan-to-value (LTV) ratio and explain what’s needed to qualify for your desired HELOC rate.

  • 2. Apply Online, In Person, or by Phone

    Submit an application online, in person or by phone. Our loan specialist will guide you through the process and inform you about any additional documentation or information needed to get your approval.

  • 3. Access Your Funds During the Draw Period

    Once approved, you will enter a 10-year draw period1 where you will only have to pay the interest portion of funds borrowed. At this point you can access your line of credit to fund any project or expense.

  • 4. Repay Over Time

    Once your draw period has ended, you will enter the repayment period, which last 15 years. At this time, you will start making payments on both the interest and principal of the funds drawn.

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Rates as Low as Prime Minus 1.00% APR

Whether you’re funding a home renovation, consolidating debt or simply looking for a better rate with your HELOC, we’ve got you covered. Go from project plans to action plans and get a rate as low as Prime minus 1.00%1 APR! To learn more about this rate give us a call at 262-780-7133 to learn more or apply online today.

Compare Your Options

Let’s do a quick breakdown of three popular funding options that can play a part in home related renovations or expenses. Check out these key differences and decide which one works best for you. If you have additional questions, feel free to contact us for more information.

HELOC

  • Revolving line of credit to draw funds when needed
  • No or low closing costs1
  • Variable interest rate
  • Perfect for changing project plans 
  • Flexible spending option 
  • 10-year draw period1

What is a HELOC?

Home Equity Loan

  • One-time lump sum of cash
  • Fixed interest rate
  • Consistent monthly payments
  • Great for budgeted projects like home additions
  • Lower interest rate than a credit card

Learn More

Cash-out Refinance

  • Frees up funds for large expenses or bills
  • Convert your equity to cash with a new mortgage
  • Can lower the interest rate of your current mortgage 
  • Higher closing costs and fees

Explore Options

Helpful Articles

HELOC FAQs

Have additional questions? Check out some of these common question about HELOCs. If you need more information please contact us and we will connect you with an expert!

  • When your Home Equity Line of Credit (HELOC) reaches the end of its draw period, it will enter the repayment period. When this occurs, you will no longer be able to access any additional funds.

    Some individuals may see an increase in their monthly payments. If you have only been paying the interest portion of your line of credit, your HELOC will convert to interest and principal payments. Depending on the initial setup of your HELOC you may already be paying on the interest and principal of your borrowed funds.

    Before your HELOC draw period comes to an end, we encourage you to contact us to discuss payment options or answer any questions you may have. We can help you figure out the best borrowing options to meet your needs.
  • You can typically borrow up to 80% of your home's value, minus what you still owe on your first mortgage.

    For example, if your home is valued at $120,000 and your mortgage balance is $27,000, you could potentially qualify for a HELOC of around $69,000.

    Keep in mind that this is a general estimate. Your actual limit may vary based on factors like credit, income and overall equity.

    Need more than 80% loan-to-value (LTV)? We may still be able to help. Contact us to review your options.
  • Typically, a Landmark HELOC will close within 12-15 business days of submitting your application.
  • The minimum amount you can advance on a HELOC is $50.
[1]
Current Rate available on loans for owner-occupied primary residences with loans up to 70% Loan-to-Value (LTV) and credit scores of 740 or higher. Other restrictions may apply. Annual Percentage Rate (APR) is variable and set at Prime (recently 7.50%) minus 1.00 percentage points, or 3.99% APR, whichever is higher. Rate is subject to change on the first business day following any change in the Prime Rate as published in the Wall Street Journal. Interest-only payments are available for the first 10 years from the date the HELOC was opened; outstanding balance will then amortize based on the variable rate to be repaid in monthly payments over 180 months. Maximum rate 20% and the APR will never fall below 3.99%. If the line of credit is closed within the first 2 years, an early termination fee of $200 applies. For loan amounts over $400,000 fees the member is responsible for are property valuation, property condition report, title letter report, and recording fee. These fees typically range between $149 - $1,000 depending on the number of units, occupancy status, and the amount of the credit line requested. Additional loan programs may be available based on creditworthiness. Homeowner’s insurance on the property securing this plan is required. All loans subject to approval. Offer is subject to change or cancellation without notice.