Indiana Home Equity Line of Credit Rates

Compare Home Equity Line of Credit rates from lenders in Indiana with a loan amount of $50,000. To change the mortgage product or the loan amount, use the search box above. Click lender name to view more information.

Indiana Home Equity Line of Credit

November 21, 2018 Average Rate: 6.25%

Lender Rate (%) Monthly Payment Learn More
5.49 %
$284 Learn More
More Info
4.24 %
$246 Learn More
More Info
KeyBank - Syracuse
Updated 2018-11-14
5.75 %
$292
Horizon Bank
Updated 2018-11-14
5.5 %
$308
Washington Trust Bank
Updated 2018-11-14
5.75 %
$399
State Farm Bank
Updated 2018-11-14
7.75 %
$378
Old National Bank
Updated 2018-11-14
5.49 %
$543
BB&T
Updated 2018-11-14
5.24 %
$300
Bank of America
Updated 2018-11-14
6.54 %
$318
Regions Bank
Updated 2018-11-14
6.875 %
$329
First Midwest Bank
Updated 2018-11-14
5.75 %
$292
Teachers CU
Updated 2018-11-14
4.99 %
$437
BMO Harris Bank
Updated 2018-11-14
5.24 %
$276
TCF Bank
Updated 2018-11-14
6.24 %
$308
1st Source
Updated 2018-11-14
6.35 %
$498
HSBC
Updated 2018-11-14
6.75 %
$325
Fifth Third
Updated 2018-11-14
7.25 %
$342
Chase
Updated 2018-11-14
6.88 %
$329
Navy FCU
Updated 2018-11-14
6 %
$276

Data from above provided by Informa Research Services, Inc.

ATLANTA POSTAL
Updated 08/12/2018
Restrictions
4.00 Varies
Alliant
Updated 08/12/2018
Restrictions
4.25 Varies
Wells Fargo Bank, National Association
Updated 11/08/2018
4.75 Varies
DIGITAL
Updated 11/12/2018
Restrictions
4.75 Varies
Old National Bank
Updated 11/13/2018
4.99 Varies
U.S. Bank National Association
Updated 08/20/2018
4.99 Varies
BB&T
Updated 11/14/2018
4.99 Varies
VIRGINIA CREDIT UNION, INC.,
Updated 08/10/2018
Restrictions
5.00 Varies
CITIZENS EQUITY FIRST
Updated 08/12/2018
Restrictions
5.24 Varies
Horizon Bank
Updated 11/09/2018
5.25 Varies
NASSAU EDUCATORS
Updated 11/09/2018
Restrictions
5.25 Varies
UNITED NATIONS
Updated 11/13/2018
Restrictions
5.25 Varies
TEACHERS
Updated 11/09/2018
Restrictions
5.25 Varies
JPMorgan Chase Bank, National Association
Updated 11/08/2018
5.50 Varies
First Federal Savings Bank
Updated 08/19/2018
5.50 Varies
American Community Bank of Indiana
Updated 08/19/2018
5.50 Varies
First Internet Bank of Indiana
Updated 08/20/2018
5.50 Varies
TIAA, FSB
Updated 11/15/2018
5.50 Varies
Citibank, National Association
Updated 11/08/2018
5.59 Varies
Bank of America, National Association
Updated 11/15/2018
5.65 Varies

Data provided by BestCashCow

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.

Rates provided by BestCashCow are based on loan amount of $50,000 and a variety of factors including credit score and loan to value ratios. For specific requirements please check with the lender. Rates may change at any time.

Home Equity Line of Credit - Rates are based on a variable rate, second lien revolving home equity line of credit Indiana for an owner occupied residence with an 80% loan-to-value ratio for line amounts of $50,000. Discount indicates the amount of reduction in the Rate for having monthly payments automatically deducted from an account and/or for having other relationship accounts with the institution, expressed as a percentage. Conditions ‘No closing costs’ indicates that customer is not required to pay closing costs on the line of credit. ‘With closing costs’ indicates that customer is required to pay closing costs on the line of credit. Rates may include discounts. Rates are subject to change without notice.

Home Equity Line of Credit (HELOC) Rates

Home equity lines of credit (HELOCs) are loans secured against the equity in your home, They are typically less costly and more flexible than home equity loans.  Since they are lines of credit, the borrower only draws the amount that they need and only pays interest on that amount. The amortization schedule ordinarily does not require payback of the principal drawn until year 10 (HELOCs are, therefore, technically “interest only” loans until that time).

HELOC lenders will lend up to 90% the value of the equity in your home and the typical HELOC line is from $200,000 up to $500,000.

How to Find the Best HELOC Rate

As you see in the table above, the pricing of a home equity line of credit varies from lender to lender.  HELOC rates are based on the prime lending rate (“prime”) - the rate that commercial banks charge their most creditworthy customers.  Most lenders add on a margin above the prime rate. The average HELOC rate is 6.25%.

Risk to HELOCs

HELOC rates fluctuate. Repayment terms are tied to the prime lending rate and that rate is likely to move up – perhaps dramatically - over the next few years as the Federal Reserve raises the Fed Funds rate. A 10-year home equity loan or a 15-year home equity loan, however, may be a safer option at this time. Depending on your personal circumstances, you should also consider mortgage refinance options.

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