Home Equity Lines of Credit & Loans
If you can dream it, your home’s equity can help pay for it. A home equity line of credit or loan from Minneasota-based TopLine may be the perfect way to pay for those things you’ve been dreaming about. Whether you use the money for home improvements, to purchase a new car, pay for school tuition or travel the world, you’ll enjoy these benefits:
- Free 24/7 online and phone banking account access
- Free electronic statements
- Flexible borrowing options like lines of credit or single disbursement installment loans
- Flexible repayment options
- Competitive interest rates
- Low or no fees, including no prepayment penalties
- Potentially tax-deductible interest (consult your tax advisor for details)
- Optional insurance protection
- Apply online!
Click here to apply online or call 763-391-9494.
Home Equity Lines of Credit
If you appreciate flexibility, then TopLine’s Home Equity Line of Credit (HELOC) is there when you need it. We’ll establish your line for the maximum amount available, then you can access the funds whenever you need to by transferring your available balance into your TopLine checking account online, by phone or in person, or by stopping at any branch office. Then you’ll repay the amount borrowed gradually, in manageable monthly installments. As you repay your balance, your available credit is instantly replenished. Home Equity Line of Credit options include:
- Variable Rate Lines of Credit require a minimum loan amount of $10,000 and offer a 15 year term – a 5 year draw period plus an additional 10 year repayment period.
- Fixed Rate Lines of Credit also require a minimum loan amount is $10,000 and features terms up to 7 years, which includes a 2-year draw period plus an additional 5 year repayment period.
If you know how much you need to borrow and prefer to borrow that amount in one lump sum, then TopLine's Home Equity Installment Loan is for you. Home Equity Loan options at Minneapolis/St. Paul-based TopLine include:
- Home Equity Installment Loans feature a fixed annual percentage rate and flexible terms – ranging from 5 to 20 years.
- Home Equity 5-year Balloon Installment Loans offer a maximum term of 15 years with an optional 5-year balloon.
|Variable or Fixed APR
||Payment Per $1,000
|Line of Credit (1)
||Variable||Intro rate of 2.99% for first 12 months||$10.00|
|Line of Credit||Fixed||starting at 5.79%||$10.00|
|Installment Loan (2)
||Fixed (5 year)
Fixed (10 year)
Fixed (15 year)
|Starting at 2.99%
Starting at 3.49%
Starting at 4.19%
***APR means Annual Percentage Rate. Loan subject to approval. Loan approval based on creditworthiness. Rates, terms and conditions subject to change. Rates accurate as of 12/14/17.
(1) 2.99% APR introductory rate will be fixed for 12 months; thereafter rate will revert to the current U.S. prime rate plus a margin, subject to 3.75% APR floor. This offer applies to new loans or increases of at least $10,000 only. Variable rates are subject to change monthly based on U.S. Prime Rate (as published in the Wall Street Journal) plus a margin. Home equity lines of credit are subject to a 3.75% floor, rate will not exceed 17.99%. Rates quoted are for 80% loan-to-value or less and will vary based on credit history. APR may vary based on credit profile, down payment, term of loan and other criteria based on specific loan product. Prime rate on June 19, 2017 was 4.25%. Rates subject to change. Loan approval based on creditworthiness. Payment will be 1% of outstanding balance as of the last day of the month.
(2) APR shown is based on discounts and other factors. Rates reflect maximum discount of up to 0.30%. Rates quoted for Installment Loan are for 60% loan-to-value or less.
† Closing costs waived for both home equity line and home equity loan. Does not include appraisal fee, if applicable.