Home Equity Lines of Credit
Open a HELOC that you can use over and over.
Home Equity Loan
Live your best life in your home!
Right now you can get any home equity loan with just 3.99% APR^ for the first six months^, with rates as low as 6.74%APR♦ with Loyalty Program♦ after that. This offer is available for a limited time.
When you apply for a HELOC, you get a credit limit, and you can borrow up to that amount. As you pay your balance down, you can borrow again, similar to a credit card.
Product Details
Most HELOCs have a variable rate for the life of the loan, but Veridian's HELOCs offer a fixed rate that will not change for the first 5 or 10 years. That gives you more confidence and stability for the future.
You can pay down your HELOC and borrow up to your limit again and again, similar to a credit card. Save more on all sorts of purchases over your 25-year term.
You can access your HELOC through online banking and our mobile app. Simply make transfers from your HELOC to your savings or checking accounts when you need to draw from it.
Get up to 100% of the value of your equity. Please note that rates increase once your loan-to-value ratio goes over 80%.
This loan may be a good fit for you if:
- You have equity in your home.
- You're doing DIY or other projects with expenses over time.
- You like the security of a line of credit you can borrow from.
- You want to use your credit over and over again, like a credit card.
Rates, Terms & Payment Examples
Calculate Your Estimated Minimum Monthly HELOC Payment
Your monthly payment is determined by the funds you access/balance you carry. Use the slider to estimate a minimum monthly payment based on your balance.
| $ Your Equity Your Equity | 5 Year Fixed Rate(60 Month) | 10 Year Fixed Rate(120 Month) |
|---|---|---|
| APR as low as♦ | 6.99% | 7.50% |
| Loyalty APR as low as♦ | 6.74% | 7.25% |
| Payment Example$50 or 1% of your balance, whichever is greater | $### | $### |
| Total term | 25 years (300 months) | 25 years (300 months) |
Getting a Home Equity Line of Credit
STEP 1:
STEP 2:Close Your Loan
Sign final loan documents with standard closing costs of around $275.
STEP 3:Start Spending
You’ll receive access to your line of credit and can start drawing from it.
Frequently Asked Questions
Your minimum payment is either 1% of your balance or $50, whichever is greater.
You can draw up to your credit limit. There are no special rules about increments or daily limits.
With closed-end loans, you receive a set amount of money that you repay in roughly equal installments over a defined term.
To estimate your equity, take the value of your home and subtract the balance on your mortgage and other liens, if any. To find your loan-to-value ratio, divide the total amount you owe on your home by its value. For example, if your home is appraised at $200,000 and you owe $50,000 on your mortgage, you have $150,000 of equity and your current loan-to-value ratio is 25%.
You'll need an appraisal if you're looking to borrow more than $100,000 or more than the current assessed value of your equity. If an appraisal is required and you've had one done in the last three months, we'll accept it. If it's older than that but was still done in the last year, we'll review it to see if we can accept it. New appraisals typically cost between $400-$500.
"I have always thought Veridian has been above and beyond helpful in knowing how to serve their customers."D.K.October 2021
"I couldn’t be happier! I was even able to sign my papers on a weekend."D.R.October 2021
"All my questions and concerns were handled with care, and I felt very confident with the advice and service I received while obtaining this line of credit."S.G.November 2021
"I have been a member for a long time and have had great service though the years."K.M.September 2021
Are you ready to start your line of credit?
Get a Heloc♦ APR = Annual Percentage Rate. Includes Loyalty Program discount of 0.25% APR when enrolled in eDocs and while maintaining direct deposit of net income to Veridian or, if unavailable, a minimum of 10 qualifying checking account transactions per month. Borrowers will lose discount if they fail to meet Loyalty Program qualifications during loan term. Rate fixed for first 60 or 120 months of the 25-year term; after that, the rate is variable and the maximum APR is 21%. Add up to 2.5% to interest rate for home equity lines of credit with loan-to-value ratios over 80% (maximum of 100%). Rates, terms and conditions subject to change and may vary based on qualifications including creditworthiness, loan-to-value ratio and collateral conditions. Home equity loans only available in Iowa, Nebraska & Minnesota and do not include escrow. All loans subject to membership and approval. Appraisal fees may apply. See Veridian for details.
^Disclosure text here please.
^ APR = Annual Percentage Rate. Introductory rate offer of 3.99% APR for first six months is valid on applications through 6/30/2024 and is not eligible for Loyalty Program discount during this period. Introductory rate cannot be combined with other offers. After introductory period, loan returns to regular rates and terms. Existing home equity loans with Veridian may be refinanced if loan balance increases at least 25% with new money. Home improvement loans and loans tied to first mortgages are not eligible.