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.
* 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.