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A client updated their living room by using a home equity loan
FUNDS FOR WHAT YOU NEED

Talk with a Private Banker about your options for tapping your home equity.

Find a Private Banker

HOME EQUITY OPTIONS

With a home equity loan or home equity line of credit, your goals are within reach. A Private Banker can help you decide which option best suits your needs and then guide you through the closing process. Plus, qualifying Private Banking client may receive additional rate discounts.1

  • HOME EQUITY LINE OF CREDIT (HELOC)

    Unlock your low rate on a HELOC, and have the funds you need to re-invent your kitchen, pay for a wedding, cover the cost of tuition or more. Simply access cash as you need it, using checks or a Home Equity Access Card.

    • Line amounts from $10,000 to $1,000,000
    • Available to use for multiple projects
    • 10-year draw period, 20-year repayment period2
    • Introductory rate discount for the first 12 months
    • Interest-only payments during draw period, with variable rate based on Wall Street Journal prime rate plus or minus a margin2
    • No additional review or application during transition from draw to repayment period
    • Multiple draw methods including transfers, HELOC checks, card3
  • HOME EQUITY LOAN

    Finance a specific need or consolidate debt with our Home Equity Loan. Get the funds you need for home improvements, a dream wedding or the baby's new room. You can borrow up to 89% of your home's value. 

    • One large sum available now
    • A competitive fixed-interest rate

Financial Insights for You

  • A family building a new home

    WHAT’S THE BEST WAY TO TAP YOUR HOME EQUITY?

    Unsure what’s right for you? Learn the differences between a HELOC, home loan, and a cash-out mortgage refinance.

  • A couple looking at remodeling their new home

    HOW LARGE A LINE OF CREDIT COULD YOU GET?

    Learn your possibilities — and how much a monthly payment may be.

  • A couple discussing their financial options

    5 TIPS FROM FINANCIAL ADVISORS

    These simple, free tips could make a big difference to your bottom line.

1 Credit products are offered by Old National Bank and subject to normal credit approval. Property insurance is required for all loans secured by real estate. Rates are subject to change daily. Contact your Old National Private Banker or Residential Lender for current loan rates.
2 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. Member FDIC.
3 Equity Access Cards are not available to Kentucky residents.