Ready to take on a home improvement project? Looking for a way to help pay for college? Interested in purchasing vacant land? Home Equity Lines of Credit (HELOCs) streamline the loan process and decrease closing costs, giving you the ability to turn equity in your home into cash! Here are more reasons why you should choose Honor Bank for a home equity loan in Northern Michigan.
- Easy access to funds
- No origination fee
- Standard closing costs are covered by us
- No annual fee for the first year
- Lines from $10,000, based on the equity in your home
Home Equity Loan Rates in Michigan
For qualified applicants, APR starts at 4.50%. Credit limits depend upon applicant qualifications. This credit limit is the maximum amount that you may borrow at any one time under the plan and is figured by taking a percentage of the applicant’s home value and subtracting the balance owed on the existing first mortgage. We also look at income, debts, other financial obligations, and credit history when determining the amount of your approved line.
Our Commitment to You
Honor Bank operates by the principles laid out in our Honor Code. We’re committed to doing everything in our power to provide our customers with excellent customer service, whether they’re opening a personal checking account or looking to take out a line of credit against their home. You can trust us to be there to help when you need it!
Learn more about the application process by exploring the links below.