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If the time has come to add a new roof, remodel your kitchen, or even add a backyard pool, why not use the equity in your home to finance those projects?

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Limited-time Low Rate:

2.99% APR*


Variable Rate As Low As: 

4.00% APR*

What does a Home Equity Line of Credit do?

A Home Equity Line of Credit, often referred to as a HELOC, uses the equity in your home as collateral to guarantee the loan. This reduces risk to the bank on this loan, allowing you to enjoy a lower interest rate compared to an unsecured line of credit.


Here’s what you can expect.

Access to a line of credit for ongoing use. You won’t have to apply for another loan each time you need money—just access your HELOC. As you repay your outstanding balance, you will receive back that amount of available credit, similar to a credit card. The minimum line of credit you can qualify for with this special is $7,500 and the maximum is $100,000. You will have access to these funds for 10 years. 


How can you use the money from your HELOC?

home improvement

Remodel or Upgrade Your Home



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Make a Large Purchase




Finance Education

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What is equity?

Equity is the difference between how much money you owe on your home and the amount your home is worth. The more you pay on your mortgage, the more equity you have in your home. Your equity can also increase if your home appraises for more that it previously did. Similarly, if your home appraises for less than it previously did, your equity decreases.

Heloc graph with examples of home equity increase due to home value increase and paying down mortgage



Items needed to apply for a HELOC:

  • Available Equity in your home
  • Current verification of income (if your HELOC amount is over $50,000)

 decorative imageEqual Housing Lender. Member FDIC. *2.99% Introductory Annual Percentage Rate (APR) is available on Home Equity Lines of Credit with an 85% or less loan-to-value (LTV). The introductory interest rate will be fixed at 2.99% APR during the four month introductory period. Offer is available for new applications submitted starting January 2, 2021. Offer may end without notice. After the four month introductory period: the APR is variable and is based upon an index plus a margin. The APR will vary with Prime Rate (the index) as published in the Wall Street Journal. As of January 2, 2021, the variable rate for home equity lines of credit is 4.00% (For FICO Scores of 740 or higher and LTV up to 85%), 4.25% APR (For FICO Scores of 700-739 and LTV up to 85%), and 5.25% APR (For FICO Scores of 660 – 699 and LTV up to 85%). A minimum of $7,500 and a maximum of $100,000 credit lines are available with this offer. The rate will not vary below 4.00% (the floor), with the exception of the introductory APR, or above 17% (the ceiling). Interest only payments may cause your monthly payment to increase, possibly substantially, once your credit line transitions to the repayment period. In addition, a one-time large payment may be required to pay off your line of credit balance. The processing fee is $195. Additional fees may apply. This offer is subject to normal credit qualifications and program guidelines. Rates are subject to change without notice. Property insurance is required. Consult your tax advisor regarding the deductibility of interest. Other restrictions may apply. Visit us at

Credit score will be affected if Midland States Bank needs to run credit for loan approval.

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