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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 - $0 Closing Costs

Limited Time Offer

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.

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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 pre-qualification decisions—you know your approval status when you speak 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.

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*Fees include filing fee/satisfaction fee, credit report, flood certification, and title work. Home appraisals fees, if needed, are excluded. Home Equity or Home Equity Line of Credit must have a minimum loan amount of $10,000.00. Limited time offer. With approved credit. Some restrictions apply. NMLS 441310

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
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

MEET LOGAN ︎

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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: Feb 23, 2024 3:02:15 PM
Credit Tier 1 2 3
< 70% CLTV 7.74% 7.99% 8.49%
70-79.9% CLVT 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: Feb 23, 2024 3:02:04 PM
Credit Tier 1 2 3
< 70% CLTV 7.99% 8.24% 8.74%
70-79.9% CLVT 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 



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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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