Home equity line or loan?
Find the right option for your needs.
You can pay for a variety of expenses using the equity in your home. Answer a few questions below about your individual needs and discover whether a Home Equity Line of Credit or Home Equity Loan may be the better option for you.
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Notices & Disclosures
- Subject to credit approval. Property insurance required. Other restrictions may apply, see bank for details. The line of credit has a draw period of 10 years, after which you will no longer have access to borrow funds and will be required to repay the borrowed balance within a 20-year term. Initial $50 annual fee waived. During the draw period the minimum monthly payment equal to the interest that accrued on the outstanding balance during the preceding billing cycle or $50, whichever is greater. During the repayment period the minimum monthly payment based on the balance at the end of the draw period amortized over 20 years or $50, whichever is greater. If you close or refinance your line within 3 years, a fee will be assessed for the lesser of $300 or the amount paid to third parties to recover the closing costs paid on your behalf plus in MN, the Mortgage Registry Tax (MRT) paid on your behalf. Old National reserves the right to discontinue this offer at any time.
- Equity Access Cards are not available to Kentucky residents.