Home Equity Loans

Home Equity Loans From State Bank Northwest

Whether you’re facing unexpected expenses, planning a home renovation, or looking to consolidate high-interest debt, a Home Equity Loan can give you access to the funds you need—without having to refinance your existing mortgage.

Utilize Your Home’s Value

Every time you make a mortgage payment, and as your home's value increases over time, you build equity in your home. A Home Equity Loan allows you to borrow against that equity, turning it into cash that can be accessed for whatever you need. Home Equity Loans have a minimum loan amount of $45,000 and a maximum of $500,000. Additionally and positively, you get to keep the low interest rate on your current mortgage.

Why Choose a Home Equity Loan?

  • Fixed Rate & Predictable Payments
    Lock in a competitive interest rate with consistent monthly payments over the life of your loan.

  • Lump-Sum Loan
    Receive your funds in one lump sum, making it ideal for major expenses or one-time projects.

  • No Need to Refinance
    Keep your existing mortgage and interest rate intact while borrowing only what you need.

  • Flexible Terms
    Choose a repayment plan that fits your budget and time frame.

  • Flexible Loan Amounts
    Home Equity Loans are available from $45,000 to $500,000

Home Equity Loan vs. HELOC: What’s the Difference?

While both Home Equity Loans and Home Equity Lines of Credit let you borrow against the equity in your home, there are some key differences:

  • Home Equity Loan: This is a one-time loan with a fixed interest rate and routine monthly payments. You receive the full loan amount upfront. This is a great option for large, one time expenses.

  • Home Equity Line of Credit (HELOC): A HELOC works more like a credit card. You get a revolving line of credit that you can borrow from as needed, usually with a variable interest rate. It offers flexibility for ongoing expenses or projects spread over time.

Not sure which is right for you? Our lending team would be happy to answer any questions and help you choose the solution that fits your goals. You can visit a branch or give us a call.

Common Uses for a Home Equity Loan

  • Emergency medical bills or unexpected expenses

  • Debt consolidation

  • Home improvement projects or upgrades

  • College tuition or other major life expenses

  • Business start-up costs or investment opportunities

How to Get Started

Our experienced lending team makes applying for a Home Equity Loan simple! We are here to inform your of your options, and guide you through every step of the process.

For any questions and to move forward with a Home Equity Loan give us a call or visit your most convenient branch.

All Your Banking Needs, In One Place

Get the same great, know you by name service on all your financial accounts at State Bank Northwest! Experience the convenience of having all your financial products under one roof, and the benefits of personalized, relationship-based banking. Explore all the financial services State Bank Northwest has to offer: