Home Equity Loans

Whether you are looking to make home improvements, consolidate debt, provide for educational needs or have ready funds for future expenditures, a Home Equity Loan is an excellent way to utilize the borrowing power of your home to meet your personal needs.

Home Equity Line of Credit

A home equity line of credit is a variable-rate, revolving line of credit based on the available equity in your home and other qualifying criteria.

Features and Benefits

  • Seven Year Terms with any outstanding balance due at maturity
  • Competitive variable interest rates based on your credit limit with discounts for auto debit from an account at Heritage Bank of Schaumburg
  • Monthly payments are interest only on the outstanding principal balance borrowed
  • Early termination fee for loans closed within 3 years

Home Equity Installment Loan

A home equity loan is a loan based on the available equity in your home and other qualifying criteria. This type of loan makes budgeting easier with a simple fixed-interest rate and fixed payment amount.

Features and Benefits

  • No application fee or closing costs
  • Various loan terms
  • Competitive fixed interest rates with discounts for auto debit from an account at Heritage Bank of Schaumburg
  • Monthly payments are principal and interest
*These loans apply only to single family owner-occupied residences

For additional information and the terms and conditions of our Home Equity Loans please contact our lending team at 847-524-4000.

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