Skip to content
Online Banking|
Search 605-334-2471
    Online Banking
    Triangles

    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.

    GET STARTED ︎

    Unlock Your Equity

    You have plans. You have goals. You’ve built equity in your home – so put your muscles to work and let us worry about the rest. Utilize your home's equity to implement your needs or dreams.

    GET STARTED ︎
    .
    Home_Preapproval_Icon

    Low Fees

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

    Home_Blue_Icon

    Speedy Decisions

    We don’t leave you hanging on our pre-qualification decisions—you know your approval status when you speak with your loan officer.

    Home_Rates_Icon-1

    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

    Home Equity Loan

    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.


    • The value of the property is determined by one of three things, either an appraisal, AVM or tax assessed value
    • Able to borrow up to 100% of value
    • Closing Fee is $495
    • Loans are retained and serviced at Levo Credit Union
    • Can be used for home improvements, emergency funds, travel expenses, consolidate debt, potentially deduct the interest on your taxes (consult your tax adviser)

    Home Equity Line of Credit (HELOC)

    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 $495 closing costs without an appraisal
    • Can be in place as a reserve to use if need be
    • Loans are retained and serviced at Levo Credit Union
    • The value of the property is determined by one of three things. Appraisal, AVM, or tax assessed value.
    • Can be used for home improvements, emergency funds, consolidate debt, pay off high-interest debt, vehicle purchase or repair, education 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

    RachelK_1

    RACHEL KOPP

    Home Equity Specialist

    Branch: Downtown
    NMLS #2178489

    MEET RACHEL ︎

    Logan-1

    lOGAN WATZEK

    Home Equity Specialist

    Branch: S. Louise
    NMLS #2333671

    MEET LOGAN ︎

    Already applied and want to login to your account?

    LOGIN ▶︎

    Current Home Equity Rates

    Last Updated: Feb 23, 2024 3:01:06 PM
    Credit Tier Tier 1 Tier 2 Tier 3
    Prime Rate: 8.50% 721+ 680-720 -680

    5 Year - Fixed Rate Term

    Last Updated: Mar 4, 2024 3:20:34 PM
    Credit Tier 1 2 3
    < 70% CLTV 7.74% 7.99% 8.49%
    70-79.9% CLTV 7.99% 8.24% 8.74%
    80-89.9% CLTV 8.24% 8.49% 8.99%
    90-100% CLTV 8.99% 9.24% 9.74%

    7 Year - Fixed Rate Term

    Last Updated: Mar 4, 2024 3:20:49 PM
    Credit Tier 1 2 3
    < 70% CLTV 7.99% 8.24% 8.74%
    70-79.9% CLTV 8.24% 8.49% 8.99%
    80-89.9% CLTV 8.49% 8.74% 9.24%
    90-100% CLTV 9.24% 9.49% 9.99%

    10 Year - Fixed Rate Term

    Last Updated: Feb 23, 2024 3:01:54 PM
    Credit Tier 1 2 3
    < 70% CLTV 8.74% 8.99% 9.49%
    70-79.9% CLVT 8.99% 9.24% 9.74%
    80-89.9% CLTV 9.24% 9.49% 9.99%
    90-100% CLTV 9.99% 10.24% 10.74%

    6 Year Balloon

    Last Updated: Feb 23, 2024 3:01:31 PM
    Credit Tier 1 2 3
    Up to 100% CLTV 8.50% 8.75% 9.25%

    HELOC - Variable Rate

    Last Updated: Feb 23, 2024 3:01:42 PM
    Credit Tier 1 2 3
    Up to 90% CLTV 8.50% 8.75% 9.25%
    91-100% CLTV 9.50% 9.75% 10.25%

    How can we help?

    *APR - Annual Percentage Rate. Your credit score will determine your loan interest APR. The numbered tiers shown represent credit score ranges as follows: 1= 721+, 2= 680-720, 3= 680 or lower. The specific rate will be set during the loan application review. Variable rates are subject to change at the end of each calendar quarter.

    Unless noted, all rates are fixed rates. Variable rates are subject to change at the end of each quarter. Some fees may apply on Home Equity Loans. See our Fee Schedule or talk to one of our Home Equity Specialists for details. 

    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 

    NEWSLETTER SIGNUP

    Download Our Mobile App
    Apple App Store
    Google Play Store
    National Credit Union Association
    Equal Housing Lender

    Triangles

    Routing Number: 291479974

    NMLS: 441310

    If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 1-800-568-5711 for assistance. All products and services available on this website are available at all Levo Credit Union branch locations.

    © 2014-2024 Levo Credit Union