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HELOC & Home Equity Loans

A Home Equity Loan or Line of Credit (HELOC) with Horizon allows you to benefit from all the blood, sweat, and tears you put into your home. With a loan or line of credit, you can use your equity for long-awaited renovations, consolidate debt, or make a major purchase. 



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Home Equity Line of Credit

A home equity line of credit (HELOC) can be useful if you’re planning a major project with multiple expenses or if you want ongoing access to funds. HELOCs feature flexible repayment options and the rates are typically lower than credit cards.

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Home Equity Term 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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*Introductory APR (Annual Percentage Rate) will be fixed at 6.19% APR for the first 3 months for those lines with up to 89.9% loan to value (LTV). Thereafter, the rate may vary. The rate is based on credit score, LTV and Prime Rate + 0.25%. The Prime Rate equals the highest Wall Street Journal (WSJ) prime rate as published in the WSJ effective the date the 3-month introductory period expires. WSJ prime rate effective 3/23/2023 is 8.00% APR. Example: credit score of 730+ and LTV of 70% or less will have a rate of 8.25% as of date of publication following the introductory period. Maximum rate is 25%. APR will not fall below a floor of 3.25%. Annual fee is $50, waived for first year. Reimbursement fee up to $399 applies if line is closed within the first 36 months. A minimum draw of 25% of approved loan amount is required to be disbursed at time of loan closing. Subject to credit approval. Other terms and conditions may apply and are subject to change without notice. Oer expires May 31st, 2023.

What Can Home Equity Loans Be Used For?

  • Couple picking out paint colors

    Why Choose a Home Equity Fixed-Rate Loan?

    A Home Equity loan gives you easy access to the equity in your home to pay for home improvements, college tuition, and more.  And, rates are typically lower than credit cards or other unsecured loans. Fixed-rate loans make budgeting easy because your monthly payments remain the same over the life of the loan.
  • Family in kitchen on floor

    Today's low home equity rates*

    Home Equity Term Loan rates are typically much better than other high-rate credit cards and are often great options for debt consolidation. 

  • Young family discussing financial planning

    What about 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 because your rate is fixed for the life of the loan so you will have lower borrowing costs. We do have other options, check out our home equity options – including a line of credit. 

Home Equity Advice

4 Popular Home Improvement Projects You Need to Try This Fall

Man and woman looking at floor plans

Your house is your home base in life. It’s where you relax after the work week, your family gathers for holidays, and you celebrate the victories, big and small. So this fall, consider a home improvement project that makes your home even more inviting!

How Home Improvements Benefit You – And Your Equity

Americans spent more time at home in recent years – nearly 62% of our waking hours. That makes it even more important to love your home. Home improvement projects help significantly, with 65% of homeowners who complete home improvement projects reporting increased happiness. And their home equity grows, too. So which popular home improvement project should you pursue?

Replace old flooring

New flooring can drastically improve the look of your home, especially if you’ve completed other renovations. Complement fresh paint or new cabinets with beautiful flooring.

Install new windows

Not only do new windows increase natural lighting, but they also improve energy efficiency. Additionally, new windows have one of the highest ROIs for home resale value.

Renovate the bathroom

Are you dreaming of a double vanity? A linen closet in the bathroom? 76% of homebuyers are, too! So enjoy your renovated bathroom today, and reap the resale benefits in the future.

Remodel the kitchen

For many, the kitchen is the central point of the home, where you cook meals and share stories. A kitchen remodel is not only aesthetically appealing but provides increased functionality.

Home improvement projects increase your home’s resale value and home equity. If you already have equity, you can use it to secure a loan or line of credit for additional home improvements. Learn more about home equity from Horizon Bank’s advisors today. 

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Apply for Your Home Equity Loan

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Our advisors can help you choose the best option that works for you.  

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Calculate your loan

Use our loan calculator to calculate your home equity loan.

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