Home Equity

Home Equity

Whether you need a bigger garage for your stuff or more stuff to put in your garage, Minnco can help! Select from our Home Equity Loan or Home Equity Line of Credit. Both offer distinct advantages.

Home Equity Loan
With a loan-to-value ratio of 100% of the value of the property, including existing first mortgages, and terms up to 15 years, a Home Equity Loan from Minnco is the perfect solution for paying for home improvement projects, family vacations, debt consolidation and major purchases. In this rising rate environment, members can relax knowing their Home Equity Loan rate from Minnco is fixed for the term of the loan.

Home Equity Line of Credit
The beauty of a Home Equity Line of Credit (HELOC) is the flexibility of only borrowing what you need, and only paying interest on the amount you've borrowed. At the same time, you can tap into your line of credit as needs arise. Qualified homeowners can borrow up to 100% of their home's equity and use the funds for just about any purpose. HELOC rates are variable and adjust each year in July.

Enjoy big savings!

When you combine tax-deductible interest (check with your tax advisor on eligibility) with Minnco's low rates, our Home Equity Line of Credit and Home Equity Loan make good financial sense! Better yet, you can save even more with Minnco's no closing costs offer!*

Get started today!
In addition to a signed loan application, we will also need the following items to process your application: copy of your full legal property description, the past two pay stubs for each borrower or W-2 forms, a copy of your property tax statement and proof of insurance on the property.

* $15,000 minimum advance (HELOC) or $15,000 loan (HEL) is required. Abstracting and appraisal fees are extra, if needed. A charge may also be imposed if loan is paid off within 12 months. See a loan officer for complete details. All loans are subject to approval.

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