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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.

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Unlock Your Equity

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

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Low Fees

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

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Speedy Decisions

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

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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
  • Minimum draw amount is $500
  • 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
Email: 
Rachelk@levo.org
NMLS #2178489
Phone: 605-978-0538
Fax: 605-334-3981

MEET RACHEL ︎

Logan-1

lOGAN WATZEK

Home Equity Specialist

Branch: S. Louise
Email:
LoganW@levo.org
NMLS #2333671
Phone: 605-977-8348
Fax: 605-334-3981

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Current Home Equity Rates

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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. With approved credit. Some restrictions apply. NMLS 441310 



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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.

Routing Number: 291479974
NMLS: 441310
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