Is Your Home Ready to be Social Again?

Get your home ready for entertaining. Whether it’s outdoor barbeques, upcoming holidays or special social gatherings, could your indoor or outdoor space use an update?

A Home Equity Line of Credit (HELOC) is a great option for financing any home improvement projects you desire.  It provides maximum flexibility to use your credit line when you want, in any increment, for just about anything. Best of all, unlike traditional loans, HELOC payments are calculated based only on what you’ve used – not on the full credit line.

Due to high demand, Lake Area Bank has extended our special HELOC rate through 10/31/21. In addition to our existing no-closing cost* offer, we are offering 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

Get your home ready to be social again.

Don’t need home improvements?  A Home Equity Line of Credit can be used for just about anything!  Other common uses include: debt consolidation, funding a dream wedding or vacation, emergency funds, or large purchases such as a cabin or recreational vehicle.  Whatever your need, a HELOC can provide the convenience and flexibility to fund your next project.


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 02/01/2021 for applications received 02/01/2021 to 10/31/2021. Lake Area Bank reserves the right to discontinue the introductory rate prior to 10/31/2021. 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 02/01/21, 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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