Home Equity Line of Credit & Loans

Meeting your specific needs

Make your home work for you! At Heartland Bank, we can help you with a Home Equity Loan or Line of Credit that would enable you to borrow against the equity in your home.

Home Equity Line of Credit (HELOC)

What is a HELOC and how does it work?

A HELOC, or a Home Equity Line of Credit, is a type of loan that allows you to borrow money against the equity you have in your home. With a HELOC, you have access to a certain amount of credit, which you can draw from as needed. The amount of credit available to you is determined by the equity you have in your home and other factors such as your credit score and income.

Features of a HELOC include:

  • Competitively low-interest rates
  • Flexible terms
  • Make payments and view account information with online banking/mobile app
  • Pay interest on only what you use
  • Variable rate that will adjust with the Prime Rate. If the Prime Rate changes, your interest rate and payment will adjust accordingly
  • Interest may be tax-deductible (consult your tax advisor)**

    Click here to view more information about HELOCs.​
    Click here to view Home Equity Reserve Disclosures.

Home Equity Loans

With a Heartland Bank Home Equity Loan, you can use the equity in your home to receive a lump sum of money that you must repay with interest over a fixed period of time. The amount of money you can borrow is typically based on a percentage of your home's equity, your credit score, and your income. Equity is the difference between the value of your home and the amount of money you still owe on your mortgage.

Features include:

  • One-time disbursement
  • Fixed monthly payments over the life of the loan
  • Various repayment terms available
  • Make payments and view account information with online banking/mobile app
  • Interest may be tax deductible (consult your tax advisor)*


What are some ways I can use a HELOC or Home Equity Loan?

  • Debt consolidation
  • Emergency or medical expenses
  • Home improvements, renovations and upgrades
  • College tuition
  • Major expenses


HELOC vs. Home Equity Loan: Which is right for you?

Whether to use a Home Equity Line of Credit (HELOC) or a Home Equity Loan largely depends on your financial situation and your borrowing needs.

A HELOC may be a good option if you need ongoing access to funds over a longer period of time, while a Home Equity Loan may be a better option if you need a large sum of money upfront for a specific purpose. It's important to carefully consider your financial situation and borrowing needs before deciding which option is right for you. Read more about the differences here.

Get started by applying today! Questions? Contact your local branch banker or speak to our Client Services team via phone, email or live chat.