Use your home's equity to get started. With a home equity loan or home equity line of credit, you can borrow against the equity in your home to pay for a variety of expenses. We can help you decide which option best meets your needs.
Home Equity Line of Credit
Unlock your low rate on a Home Equity Line,1 and have the funds you need to re-invent your kitchen, add a backyard oasis, cover the cost of tuition or take a vacation. With a HELOC, simply access cash as you need it, using checks or a Home Equity Access Card.2
Is a home equity line of credit the right option for your needs?
Consider the following benefits:
Use for multiple projects
Interest-only payment option
No annual fee for the first year
Home Equity Loan
Finance a specific need or consolidate debt with our Home Equity Loan. Get the cash you need for home improvement projects, a dream wedding or the baby's new room. Plus, with our Home Equity Loan, you can borrow up to 89% of your home's value.
How do you know if a home equity loan is right for you?
Rates, terms & conditions effective as of 10/31/2019 for applications received 10/31/2019 to 2/29/2020. Subject to credit approval. Property insurance required. Other restrictions may apply, see bank for details. Offer eligible for new, renewing and refinanced HELOC lines. Introductory discounted variable rate in effect for the first 12 billing cycles, based on a 1.25% discount resulting in an APR of 1.51% below prime rate as published in the Wall Street Journal. Thereafter, variable rate based on The Wall Street Journal prime rate plus a factor, currently 4.49%. APRs based on highest credit tier, line amount of $100,000 with an LTV of 80% or less and includes a .25% rate reduction at origination for automatic payment from an ONB checking account. ONB associates may select the associate discount or Private Select discount, not both in addition to the promo rate. Max APR is 21%. Initial $50 annual fee waived. Balloon payment may be required to pay this loan in full if only the minimum is paid. Minimum monthly payment equal to the interest that accrued on the outstanding balance during the preceding billing cycle or $50, whichever is greater. As permitted, if the line is closed or refinanced within 3 years the prepayment penalty fee is the lesser of 1% of principal balance or $350. Old National reserves the right to discontinue this offer at any time.
Equity Access Cards are not available to Kentucky residents.
