
HOME EQUITY LOANS
Does your home need a facelift? Sometimes a little update is all you need to get your house feeling like a home again.

Low Fees
Levo keeps the fees associated with financing a home sensible and minimal. Experience the Levo difference.

Speedy Decisions
We don’t leave you hanging on our prequalification decisions—you know your approval status when you meet with your loan officer.

Local Underwriting
Our local team features an underwriting pro who can make the qualification process smooth, simple and speedy. Plus, all loans stay in-house. They are not sold.
Loans For The Way You Live
Lump Sum Vs. Line of Credit
A home equity loan is a type of loan in which the borrower uses the equity of his or her home as collateral. The loan amount is determined by the value of the property, and the value of the property is determined by an appraiser from the lending institution.
- Home equity loans have a fixed rate
- Potential to borrow up to 95% CLTV (loan to value)
- Can be used for:
- Home Improvements
- Emergency Funds
- Travel Expenses
- Consolidate Debt
- Potentially Deduct the Interest on Your Taxes (Consult Your Tax Adviser)
A home equity line of credit, or HELOC, is a loan in which the lender agrees to lend a maximum amount within an agreed period, where the collateral is the borrower's equity in their house. Experience low rates, low payments, and a quick and easy loan process.
- Potential to borrow up to 100% CLTV (loan to value)
- 5-Year Draw Period
- Minimum Payment During Draw Period is Interest Only
- No Prepayment Penalty
- No Annual Fee
- No Minimum Number of Draw of Dollar Amount
- Only $395 Closing Costs Without An Appraisal
- Can Be in place as a Reserve to Use if Need Be
- Loans are Retained and Serviced at Levo Federal Credit Union
- Can be used for:
- Home improvements where you choose to draw funds as needed
- Emergency Funds
- Travel Expenses
- Consolidate Debt
- Pay Off High-Interest Debt
- Vehicle Purchase or Repair
- Educational Expenses
- Annual Tax Payments
- Cash Reserve
- Funds for Down Payment on Second Home or Investment Property
- Potentially Deduct the Interest on Your Taxes (Consult Your Tax Adviser)
We're ready when you are
Meet the Team
RACHEL KOPP
Home Equity Specialist
Branch: Downtown
Email: Rachelk@levo.org
NMLS #2178489
Phone: 605-978-0538
Fax: 605-334-3981
lOGAN WATZEK
Home Equity Specialist
Branch: S. Louise
Email: LoganW@levo.org
NMLS #2333671
Phone: 605-977-8348
Fax: 605-334-3981
Fees include filing fee/satisfaction fee, credit report, flood certification, and title work. Home appraisals are excluded. Home Equity or Home Equity Line of Credit must have a minimum loan amount of $10,000.00. With approved credit. Some restrictions apply. NMLS 441310
How can we help?
*Fees include filing fee/satisfaction fee, credit report, flood certification, and title work. Home appraisals are excluded. Home Equity or Home Equity Line of Credit must have a minimum loan amount of $10,000.00. All applications must be received by March 31st, 2023. With approved credit. Some restrictions apply. NMLS 441310