Home Equity Loans

Remodeling projects. A family vacation. College tuition. There are countless ways a CoVantage home equity loan can make your life a little (or a lot) better.

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

CoVantage's Home Equity Flex loans provide our Wisconsin and Michigan 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 it at a fixed interest rate. With the benefits of a traditional line of credit loan AND a fixed loan, a Home Equity Flex loan keeps you in control.

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 at a fixed rate.

  • 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 HELOC 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 or contact your local branch to complete the request.
  • The locked segment is subject to a fixed rate, which may be higher than your current variable rate and may affect your monthly minimum payment.

Home Equity Flex Rates

Annual Percentage Rate (APR) effective 04/22/2021 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)
Term Rate APR As Low As Monthly Payment Per $1000
Line of Credit 4.000% 4.000% $10.00
Home Equity Fixed Rate Conversion Option
Term Rate APR As Low As Monthly Payment Per $1000
5 Year 4.625% 4.637% $18.71
10 Year 4.875% 4.881% $10.55
15 Year 5.375% 5.380% $8.11
20 Year 5.750% 5.754% $7.02

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