Home Equity Loans

Cover life's major costs. Or splurge on some simple pleasures.

CoVantage Credit Union's Home Equity Flex loans provide our Wisconsin, Michigan, and Illinois borrowers with a lot of options. You can use the money to buy something special, or put it toward practical needs such as credit card debt or medical costs. A CoVantage home equity loan gives you the flexibility of a line of credit and the peace of mind of locking portions of the interest rate.

What is a Home Equity Flex loan?

A Home Equity Flex loan is a line of credit that allows you to lock in a portion of your loan.

• Borrow up to 100% of the current appraised value of your home, less the balance on your first mortgage
• No transaction charge, no prepayment penalty, and no hidden fees
• First mortgage doesn’t need to be from CoVantage
• Transfer funds from your Home Equity Flex loan to your CoVantage checking using MyCoVantage Digital Banking and Mobile App
• Our in-house loans are eligible for CoVantage's Loan Interest Rebate program

How do you lock a segment?

• To lock a segment of your Home Equity Flex loan, log into MyCoVantage and send a Secure Message or contact your local branch to complete the request.
• The locked segment interest rate which may be higher than your current variable rate and may affect your monthly minimum payment.
   

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Home Equity Flex Rates

Annual Percentage Rate (APR) effective 04/26/2024 and subject to change. Rates and monthly payments are our lowest available. Individual rates and terms may vary based on down payment, credit history, and credit score.

Home Equity Flex Line of Credit (Variable Rate)

Home Equity Rate Conversion Option