Home Equity Loans & HELOCs in Minnesota
A home equity line of credit (HELOC) or home equity loan from TopLine Financial Credit Union could be the perfect way to pay for those wish list items you’ve been dreaming about.
Choose Your Home Equity Solution
FLEXIBLE ACCESS
Home Equity Line of Credit
Tap into your home's equity when you need it. Only pay interest on what you use. Perfect for ongoing projects or unexpected expenses.
As low as
4.99% APR*
Variable rate
Apply for HELOCFIXED RATE
Home Equity Loan
Get a lump sum with predictable monthly payments. Lock in your rate and enjoy peace of mind with a fixed repayment schedule.
As low as
6.49% APR*
Fixed rate
Apply for Home Equity LoanHow Home Equity Financing Works
Home equity financing allows you to borrow against the value of your home, using your ownership stake as collateral. Your equity is the difference between your home’s market value and what you still owe on your mortgage.
Think of home equity loans as second mortgages secured by your home. Interest rates can be fixed or variable, and you may be able to deduct interest paid from your taxes.
Home Value
$400,000
Mortgage Balance
$250,000
Available Equity
$150,000
HELOC Uses & Benefits
HELOCS are flexible in that you can borrow as much or as little as you need up to your credit limit. You can also use HELOC funds for a variety of purposes, such as home renovations, debt consolidation, medical expenses, travel, education costs, real estate investments and funding a major purchase, such as a wedding, boat or new car.
Home Renovations
Update your kitchen, add a bathroom, or finish your basement.
Education Costs
Fund college tuition, trade school, or continuing education.
Debt Consolidation
Combine high-interest debt into one lower monthly payment.
Medical Expenses
Cover unexpected medical bills or planned procedures.
Travel & Experiences
Take that dream vacation or fund once-in-a-lifetime experiences.
Emergency Fund
Have funds ready for unexpected expenses or opportunities.
Fixed-Rate Home Equity Loan
Do you know exactly how much money you need? With a TopLine Home Equity Loan, you can borrow that amount in one lump sum with fixed competitive loan rates and a variety of repayment options that fit your needs. Fixed loans feature predictable payments, which can help consolidate debt with a set plan and known monthly pay interest amount.
Home Equity Loan Advantages
The biggest advantage of a home equity loan is predictability. Home equity loans tend to offer lower, fixed interest rates, which translate to predictable monthly payments. Other TopLine home equity loan details include:
Home Equity Loan Details
Fixed-rate home equity loan at a glance
Minimum
$10,000
Minimum loan amount
Terms
5 – 20 Years
Flexible term length
Rates
Fixed
Competitive rates based on credit history
Payments
Fixed Monthly
Predictable, same payment every month
Repayment Tiers
0–60
months
61–120
months
121–180
months
181–240
months
HELOC vs. Home Equity Loan
HELOC
Revolving, variable rate
Home Equity Loan
Lump sum, fixed rate
Draw funds as needed up to your credit limit
Get all funds upfront in one disbursement
May fluctuate with market conditions over time
Locked in — same rate for the life of the loan
Repayment begins after the draw period ends
Fixed monthly installments over a set period
Projects with uncertain costs or timelines
Borrowing a specific amount for a single project
May deduct interest on funds used for home improvements
May deduct interest paid
Home Renovations
Update your kitchen, add a bathroom, or finish your basement.
Education Costs
Fund college tuition, trade school, or continuing education.
Debt Consolidation
Combine high-interest debt into one lower monthly payment.
Medical Expenses
Cover unexpected medical bills or planned procedures.
Travel & Experiences
Take that dream vacation or fund once-in-a-lifetime experiences.
Emergency Fund
Have funds ready for unexpected expenses or opportunities.
TopLine HELOC Details
Home Equity Line of Credit at a glance
Minimum
$10,000
Minimum loan amount
Term
30 Years
With 10-year draw period
Rates
5.99% – 8.99%*
Variable APR based on rate
Draw Period
Interest Only
Payments during draw period for 10 years
Repayment
20 Years
Repayment period after draw
Min. Payment
$50
Minimum payment or balance interest. Based on outstanding balance, whichever is greater.
Choose TopLine for Home Equity Financing
As a member-owned credit union, we focus on you — not profits. Our Minnesota-based team offers personalized service.
90+
Years Serving Minnesota
4.99%*
HELOC APR as low as
$0
Application Fees
24/7
Online Account Access
Local Decision Making
All loan decisions made right here in Minnesota by people who understand our community.
Competitive Rates
Member-owned means better rates and fewer fees than traditional banks.
Transparent Process
No hidden fees. Clear closing costs. We walk you through every step.
Rooted in Minnesota
More Than a Branch.
A Community Partner.
For 90 years, TopLine Financial has been woven into the fabric of Minnesota communities. We're your neighbors, your coaches, your fellow volunteers and we take that personally.
Every dollar you deposit stays local, funding home loans for families down the street and small business dreams right around the corner.
View All ATMs & Branch LocationsYour Home Equity Application
Our simple three-step process makes it easy to access your home equity.
1
Apply
Apply online or in person at your nearest TopLine branch. Our online application takes just minutes.
2
Discuss
A loan officer will contact you to discuss rates, repayment options, and answer any questions.
3
Close & Access
Close your loan and access your funds. We offer fast processing times and support throughout.
Frequently Asked Questions
Unlock Your Home's Potential Today
Schedule a consultation with one of our home equity specialists or apply online in minutes.
Important Disclosures
Annual Percentage Rate (APR) starts at 4.99% to 8.99% for the first 12 months based on your creditworthiness. APR is variable and will adjust with the market based on the Wall Street Journal Prime Rate, subject to as low as 3.99% APR floor and 17.99% maximum. Offer available on new HELOC only and cannot be used to pay off an existing TopLine home equity product. Rates, terms and conditions subject to change. Some restrictions may apply. Loan subject to approval and is based on creditworthiness. Property appraisal may be required. Borrower is responsible for paying the appraisal fee when it is conducted. Interest may be tax deductible. Members should consult with a tax advisor.
For current rates and other details please visit www.toplinecu.com/personal/loans/home-equity, call 763-391-9494 or visit any branch. Must be eligible for membership at TopLine. Membership is required to obtain a home equity product. Loan to value is 85% or less. Payment is $4.99 per thousand dollars with a $50 minimum. Interest only payments during 10-year draw period followed by a 20-year repayment period with fully amortized principal and interest payments. Closing costs may include title search, application fees, mortgage registration tax, recording fees. Homeowner’s insurance is required and flood insurance may be required.