Helping make your VIRTUAL become a REALITY

Bring your visions to life with a Lake Area Bank No Closing Cost* Home Equity Line of Credit (HELOC).

HELOCs provide maximum flexibility to use your credit line when you want, in any increment, for just about anything. Payments are calculated based only on what you’ve used.  If you prefer to have ongoing credit available, a home equity line of credit is a great option.

Lake Area Bank is now offering a special HELOC rate until 09/30/20. In addition to our existing no-closing cost* offer, we are introducing the following attractive introductory rate.

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Fixed APR^
for the first 12 months


Variable APR^^
thereafter during draw period as low as Prime -.50%

No Closing Costs*

10-year variable rate draw period followed by a 15-year amortized term

Up to 3 fixed rate lock options on balances advanced for 5, 10 or 15 year terms during the 10-year draw period

Isn’t it time you make your home improvement dreams a reality?


Contact any of our bank locations.

Forest Lake: 651-464-9001
Hugo: 651-407-3137
Lindstrom: 651-257-1117
Stillwater: 651-430-9500
White Bear Lake: 651-653-9619


Complete the form above and a banker will get in touch with you shortly.

* No closing costs for Lines of Credit up to $200,000. Appraisal costs range from $180-$800. Customer responsible for any appraisal costs in excess of $180.
^ During the draw period there is an introductory discounted fixed rate of 2.99% APR in effect for the first 12 billing cycles.  Thereafter, variable rate based on The Wall Street Journal prime rate (currently 3.25%) plus or minus a margin. Rates, terms & conditions effective as of 07/01/2020 for applications received 07/01/2020 to 09/30/2020. Lake Area Bank reserves the right to discontinue the introductory rate prior to 09/30/2020. Subject to credit approval. Minimum new loan amount of $25,000, or $25,000 added to an existing HELOC.
^^ APR is variable and based on The Wall Street Journal Prime Rate (“Prime”). As of 07/01/20, the best rate is Prime – .50%. Maximum APR 18%. Minimum APR 4%. Rate listed is minimum credit score of 760 with automatic payment from a Lake Area Bank account. A minimum loan amount of $10,000 to convert to a fixed rate, with a $50 lock fee during the draw period. Minimum APR of fixed rate is 4.00%.
Property insurance required; flood insurance required if property is in a flood hazard area. Must be age 18 years or older.

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Lake Area Bank is a proud Equal Opportunity Employer.

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