Compare Home Equity Loans

If you are looking to borrow against the equity in your home, then we have the right option for you.

  • Family sitting on steps. 6.69% APR 4-Month Intro Rate. 8.75% APR Adjusts to Qualified Rate.

    Home Equity Line of Credit

    A Home Equity Line of Credit (HELOC) allows homeowners to tap into the equity in their home to help make improvements, consolidate debt, add new space, or even pay for new adventures. Like a credit card, HELOCs offer the flexibility to borrow when you need to. 

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  • Mother and son working on renovating a room

    Home Equity Loan

    A home equity loan is worth considering if you have a large one-time expense, or if you want to consolidate debt and focus on paying it off. It offers fixed rates and a steady repayment schedule for the life of the loan.

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Learn About Home Equity

  • Which home equity loan is right for you?

    Home equity is the difference between your home's market value and the amount you owe on your mortgage. With a Horizon Bank Home Equity Line of Credit or Term Loan, you have flexible options to achieve your goals. You can renovate and improve your home, consolidate debt, finance education, and make major purchases.  Compare your options.

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  • What about Payments?

    A Home Equity Line of Credit Loan works like a credit card that can be repeatedly used and repaid in monthly payments.  With a Home Equity Term Loan, you pay a fixed interest rate. One of the main benefits of a fixed rate is that whether interest rates rise or fall, your monthly payments won't be affected.

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Document Checklist

When applying for a home equity loan, we will ask you to provide the documents that are required for us to make a decision on your loan application. We understand this can feel daunting. Our priority is to make it clear what is required, and to gather this information from you at one time allowing us to source the most appropriate mortgage options for your review, at the most competitive terms.

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    Pay Online

    Log in to online banking to make your payment from your Horizon account or from an external account outside Horizon.

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    Loan Pay Portal

    Make fast one-time payments using Horizon's self-service loan portal.
    (cannot be used for business payments)

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    Visit a Branch
    Stop by your nearest Horizon Bank branch to submit your payment in person.
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    Video Banking Location

    Use one of Horizon's Video Banking locations.  Video banking machines have extended hours and combine the service of a Horizon advisor with the convenience of an ATM. 

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Home Equity FAQs

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Sensible Advice

How to Save Money: Home Equity Tax Deductions

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Whether you use a home equity loan to pay your child’s college tuition or a home equity line of credit to continue upgrading your home to the house of your dreams, home equity has many advantages. And one of those benefits comes from tax deductions.

Is Interest on a Home Equity Loan Tax Deductible?

Yes, under the Tax Cuts and Jobs Act of 2017, interest paid on a home equity loan to further improve, upgrade, or add on to the home is tax deductible. However, if the loan pays for personal living expenses such as tuition or credit card payments, the interest paid is not tax deductible. Below, we explore additional home improvement projects that can provide tax deductions.

Home equity lines of credit: In addition to home equity loan interest, home equity lines of credit are also tax deductible. All qualifying expenses are tax deductible whether your home equity covers a loan, line of credit, or second mortgage.

Upgrades for medical purposes: Certain home improvements for medical purposes can be tax deductible, such as widening doorways, adding a ramp to an entryway, and lowering cabinets and counters. These expenses must exceed 7.5% of your adjusted gross income and cannot add any value to the home.

Energy efficiency improvements: The world is becoming greener! Now, you can write off certain energy efficiency investments. This is called the residential energy efficient property credit. If you add solar, geothermal, or other green energy sources to your home, you may qualify for a tax deduction!

You work hard to increase the value of your home. Understanding your deductions on home equity loan interest can be challenging. See your tax advisor for assistance.

Call us today at 888-873-2640 for more information on Home Equity loans.

Call us Contact usLearn more about home equity

How to Save Money: Home Equity Tax Deductions

person installing new floor

Whether you use a home equity loan to pay your child’s college tuition or a home equity line of credit to continue upgrading your home to the house of your dreams, home equity has many advantages. And one of those benefits comes from tax deductions.

Is Interest on a Home Equity Loan Tax Deductible?

Yes, under the Tax Cuts and Jobs Act of 2017, interest paid on a home equity loan to further improve, upgrade, or add on to the home is tax deductible. However, if the loan pays for personal living expenses such as tuition or credit card payments, the interest paid is not tax deductible. Below, we explore additional home improvement projects that can provide tax deductions.

Home equity lines of credit: In addition to home equity loan interest, home equity lines of credit are also tax deductible. All qualifying expenses are tax deductible whether your home equity covers a loan, line of credit, or second mortgage.

Upgrades for medical purposes: Certain home improvements for medical purposes can be tax deductible, such as widening doorways, adding a ramp to an entryway, and lowering cabinets and counters. These expenses must exceed 7.5% of your adjusted gross income and cannot add any value to the home.

Energy efficiency improvements: The world is becoming greener! Now, you can write off certain energy efficiency investments. This is called the residential energy efficient property credit. If you add solar, geothermal, or other green energy sources to your home, you may qualify for a tax deduction!

You work hard to increase the value of your home. Understanding your deductions on home equity loan interest can be challenging. See your tax advisor for assistance.

Call us today at 888-873-2640 for more information on Home Equity loans.

Call us Contact usLearn more about home equity