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Home Equity Loans

Give your home a workout.

Did you know your house could be a good source of money muscle?  So why not flex it? Our two home equity options are the perfect way to tap into this potential source of funding to:

  • Consolidate debt
  • Remodel, repair or enlarge your home
  • Pay for a loved one’s education

Regardless of the option you pick, you’ll enjoy no closing costs, annual fees or application fees.

Home Equity Line of Credit

Not sure how much you’ll need or prefer to have a low-cost credit available to you when you have a project?  A home equity line of credit is the option for you.

  • Credit limits up to 80% of the appraised value (less mortgage & liens), with a minimum of $5,000 and maximum of $300,000
  • Initial (first) minimum advance is $5,000 and subsequent minimum amount of $250
  • Minimum monthly payment is $70 or 1.4% of the outstanding balance
  • Draw period of 10 years and repayment terms up to 10 years
  • Access your funds by check or an advance in person or by phone at any LOC office
  • Lump sum payments can be made at any time with no pre-payment penalties

Fixed-Rate Home Equity Loans

Use this option when you know exactly how much you need to borrow or have a specific purpose in mind for the funds.

  • Credit limits up to 80% of the appraised value (less mortgage & liens), with a minimum of $5,000 and maximum of $300,000.
  • Closed-end, fixed-rate loan disbursed in one lump sum.
  • Repayment terms of 5, 10, 15 or 20 years.


Property must be occupied and be the principal residence of the borrower.

Home Equity Loan
Effective Date: Tuesday, January 22nd, 2019
TermMinimum or MaximumFixed APR As Low AsMaximum LTV
5 Years $10,000 Min/$300,000 Max 4.74% 80%
10 Years $10,000 Min/$300,000 Max 4.99% 80%
15 Years $10,000 Min/$300,000 Max 5.74% 80%
20 Years $10,000 Min/$300,000 Max 6.74% 80%

Example: A loan amount of $75,000 with a rate as low as 4.74% for 60 months would have an approximate monthly payment of $1,406.43. 

APR = Annual Percentage Rate

Rate and term may vary based on credit score.

Home Equity Line of Credit
Effective Date: Tuesday, January 22nd, 2019
10 Year Draw - 10 Year Repayment - Balloon Program
Adjustable APR As Low AsMaximum LTVMinimum or Maximum
5.50% 80% $10,000 Min/$300,000 Max
Repayment Terms: 1.40% of the Outstanding Balance.

APR = Annual Percentage Rate

Rates are based on individual credit score.


Our Members Are Getting
Financially Fit

Adin from the Hartland walked me through the process I needed to go through for some upcoming home improvements and made it so easy. I love LOC and the community feel. From now on, it's the only place I'll go for banking.

Heather and LOCFinancially Fit Together ℠

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Looking for debt consolidation options?

Our personal loan offers a fixed rate as low as 7.99% Fixed APR.

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