Home Equity/HELOC Loans

Dream of the possibilities with a Home Equity loan.

If you’re a homeowner and have built equity in your home, you may be able to borrow up to 90% of the appraised value of your home (less your existing mortgage) . . . even if you’ve only been in your home for a short time! Both home equity and home equity lines of credit generally carry lower interest rates than other loans, such as personal loans and credit cards. Unlike interest paid on other loans, this interest may be tax deductible. Consult your tax advisor to be sure.

We offer second mortgage loans and home equity lines of credit on your primary residence with loan-to-values (LTVs) up to 90%. If you prefer the security of a fixed rate loan with a fixed term for repayment, you may prefer a home equity loan. If you prefer the convenience of being able to access a revolving line of credit, you may prefer our variable rate home equity line of credit.

Prime Rate as of 04/13/2020 is 3.25%.

Home Equity Loans & Lines of Credit Rates

Rates Current as of: 04/13/2020
DescriptionTermAPR1 as low asPayment Example
Home Equity Up to 15 yearsPlease go to Member First Mortgage to get a quote.
See loan officer for details.
Home Equity Line of CreditSee loan officer for details.See loan officer for current rates.See loan officer for payment example.

1Subject to credit approval. APR is Annual Percentage Rate. ALL RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE. You should obtain personal advice from qualified professionals. Please visit the Home Equity/HELOC page for more information.

LTV is Loan to Value. Fixed term home equity loan rates are risk based depending on borrower’s credit history. Home Equity Line of Credit is a variable rate based on Prime Rate and the stated margin based on your credit score.

To determine the equity you may have, follow this simple formula:

Appraised Market Value of your property X 90% Minus Balance on your Existing First Mortgage = Available Equity

For Example:
Appraised Market Value: $100,000
X 90% =

Existing First Mortgage Balance: $60,000
Available Equity: $30,000.

NMLS Registry Information for Harvester Financial Credit Union Mortgage Loan Originators:
NMLS # 433915 Harvester Financial Credit Union
NMLS # 657939 Mary Stephens
NMLS # 657940 Sheryl Wood
NMLS # 1062075 Teresa Ervin
NMLS # 657938 Michelle Mason

7020 Brookville Road
Indianapolis, IN 46239
PH: 317.352.0455
TF: 800.326.2279
FAX: 317.351.2351

Monday, Tuesday & Thursday:
8:00 a.m. – 5:00 p.m.

9:00 a.m. – 5:00 p.m.

8:00 a.m. – 5:30 p.m.

2507 Progress Parkway
Shelbyville, IN 46176
PH: 317.392.0811
TF: 800.366.5725
FAX: 317.392.0870

Monday, Tuesday & Thursday:
8:00 a.m. – 5:00 p.m.

9:00 a.m. – 5:00 p.m.

8:00 a.m. – 5:30 p.m.

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Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
We are an Equal Housing Lender. Unauthorized account access or use is not permitted and may constitute a crime punishable by law. Harvester Financial Credit Union respects your privacy. Harvester Financial Credit Union is not responsible for, the product, service, or overall website content available at a third-party site.

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