Home Equity Loans
It's time to put your plans in motion. Unlock the power of your home's equity with flexible financing that can help support home improvements, major purchases, debt consolidation, and more.
Leverage the Equity in Your Home to Finance What's Next.
Your home's equity can be a valuable financial tool. Whether you're remodeling a kitchen, adding living space, covering education expenses, planning a major life event, or consolidating higher-interest debt, Citizens Independent Bank can help you find a solution that fits your goals.
A Home Equity Loan provides a lump sum of funds based on your available home equity and is repaid through fixed monthly installments. If you're looking for continued access to funds over time, a Home Equity Line of Credit (HELOC) may offer added flexibility.
Benefits
- Use your home's equity to help finance renovations, purchases, education expenses, and more.
- Home Equity Line of Credit (HELOC) options available for ongoing access to funds.
- Flexible repayment options designed to help manage monthly payments.
- Local loan decisions made in the Twin Cities and surrounding communities.
- Personalized support throughout the application process.
Looking for more mortgage solutions? Explore financing options designed to fit every stage of your homeownership journey.
Unlock the power of local mortgage expertise.
Whether you're exploring a Home Equity Loan or HELOC, our mortgage specialists are here to help you understand your options and make confident decisions.
Home Equity Loan vs. HELOC
Home Equity Loan
Best for larger, one-time expenses when you know exactly how much funding you'll need. Funds are received in a lump sum and repaid through fixed monthly payments.
Home Equity Line of Credit (HELOC)
Best for ongoing expenses or projects completed over time. A revolving line of credit allows you to borrow, repay, and borrow again during the draw period, giving you flexibility as needs arise.
Your home equity is used as collateral. Equity is generally calculated as your home's current market value minus your remaining mortgage balance.
Loan interest may be tax deductible. Consult your financial advisor regarding your specific situation.
We provide mortgage lending, personal banking, business banking, and financial services to businesses and individuals across the western Twin Cities. Explore our local banking locations in Saint Louis Park, Robbinsdale, Hopkins, and Plymouth to find the branch most convenient for you.