Compare Home Equity Loans

If you are looking to borrow against the equity in your home, then we have the right option for you.

  • Family sitting on steps. HELOC 6.00% APR 6-Month Intro Rate. 7.75% APR Adjusts to Qualified Rate.

    Home Equity Line of Credit

    A Home Equity Line of Credit (HELOC) allows homeowners to tap into the equity in their home to help make improvements, consolidate debt, add new space, or even pay for new adventures. Like a credit card, HELOCs offer the flexibility to borrow when you need to. 

  • Mother and son working on renovating a room

    Home Equity Loan

    A home equity loan is worth considering if you have a large one-time expense, or if you want to consolidate debt and focus on paying it off. It offers fixed rates and a steady repayment schedule for the life of the loan.

Learn About Home Equity

  • Which home equity loan is right for you?

    Home equity is the difference between your home's market value and the amount you owe on your mortgage. With a Horizon Bank Home Equity Line of Credit or Term Loan, you have flexible options to achieve your goals. You can renovate and improve your home, consolidate debt, finance education, and make major purchases.  Compare your options.

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  • What about Payments?

    A Home Equity Line of Credit Loan works like a credit card that can be repeatedly used and repaid in monthly payments.  With a Home Equity Term Loan, you pay a fixed interest rate. One of the main benefits of a fixed rate is that whether interest rates rise or fall, your monthly payments won't be affected.

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Document Checklist

When applying for a home equity loan, we will ask you to provide the documents that are required for us to make a decision on your loan application. We understand this can feel daunting. Our priority is to make it clear what is required, and to gather this information from you at one time allowing us to source the most appropriate mortgage options for your review, at the most competitive terms.

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    Pay Online

    Log in to online banking to make your payment from your Horizon account or from an external account outside Horizon.

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    Loan Pay Portal

    Make fast one-time payments using Horizon's self-service loan portal.
    (cannot be used for business payments)

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    Visit a Branch
    Stop by your nearest Horizon Bank branch to submit your payment in person.
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    Video Banking Location

    Use one of Horizon's Video Banking locations.  Video banking machines have extended hours and combine the service of a Horizon advisor with the convenience of an ATM. 

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Home Equity FAQs

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APR Disclosure


*Introductory APR (Annual Percentage Rate) will be fixed at 6.00% APR for the first 6 months for those lines with up to 89.9% loan to value (LTV). Thereafter, the rate may vary. The rate is based on credit score, LTV and Prime Rate + 0.25%. The Prime Rate equals the highest Wall Street Journal (WSJ) prime rate as published in the WSJ effective the date the 6-month introductory period expires. WSJ prime rate effective 4/1/2025 is 7.50% APR. Example: credit score of 730+ and LTV of 70% or less will have a rate of 7.75% as of date of publication following the introductory period. Maximum rate is 25%. APR will not fall below a floor of 3.25%. Annual fee is $50, waived for first year. Reimbursement fee up to $399 applies if line is closed within the first 36 months. Subject to credit approval. Other terms and conditions may apply and are subject to change without notice. Introductory rate not available on home equity lines of credit opened within the last 12 months unless line amount is increased, and a 25% advance is taken at funding. The 25% advance does not include the payoff disbursement. Offer expires June 30, 2025.

Sensible Advice

How to Increase the Value of Your Home with Sweat Equity

woman painting wall

Renovating your home on your own requires time, money, and sweat. Sweat equity rewards that hard work! Sweat equity differs from home equity but provides similar benefits, including the ability to refinance your mortgage payments and pay college tuition. So how does it work?

How Does Sweat Equity Work?

Equity is the value of your home or property minus what you owe on the current mortgage. With sweat equity, you can subtract the estimated cost of renovations – including time, work, and supplies – from the mortgage, increasing your equity. Once you’ve increased your home equity, you can apply for a home equity loan or line of credit to complete more significant projects, pay other loans, or even fund college tuition.

What Counts as Sweat Equity?

Remodeling

When the kids move out, rooms open up. Remodeling a spare bedroom into a walk-in closet and attaching a bathroom to a new master bedroom are incredibly valuable home remodels. Other remodeling projects include finishing the basement, converting a closet to a home office, or installing new floors. These major remodels all increase your home’s equity.

Renovating

Renovating includes staining hardwood floors, updating doors, and installing crown molding. It can also include getting new appliances, installing new cabinetry, etc. These are the DIY projects that many new homeowners love! And they increase your home’s value – and its equity, too.

If you’ve gained a lot of sweat equity with your renovations and remodels, apply for a home equity loan today or talk to a Horizon Bank advisor to learn more. 

Call us Contact us Learn more about home equity

How to Increase the Value of Your Home with Sweat Equity

woman painting wall

Renovating your home on your own requires time, money, and sweat. Sweat equity rewards that hard work! Sweat equity differs from home equity but provides similar benefits, including the ability to refinance your mortgage payments and pay college tuition. So how does it work?

How Does Sweat Equity Work?

Equity is the value of your home or property minus what you owe on the current mortgage. With sweat equity, you can subtract the estimated cost of renovations – including time, work, and supplies – from the mortgage, increasing your equity. Once you’ve increased your home equity, you can apply for a home equity loan or line of credit to complete more significant projects, pay other loans, or even fund college tuition.

What Counts as Sweat Equity?

Remodeling

When the kids move out, rooms open up. Remodeling a spare bedroom into a walk-in closet and attaching a bathroom to a new master bedroom are incredibly valuable home remodels. Other remodeling projects include finishing the basement, converting a closet to a home office, or installing new floors. These major remodels all increase your home’s equity.

Renovating

Renovating includes staining hardwood floors, updating doors, and installing crown molding. It can also include getting new appliances, installing new cabinetry, etc. These are the DIY projects that many new homeowners love! And they increase your home’s value – and its equity, too.

If you’ve gained a lot of sweat equity with your renovations and remodels, apply for a home equity loan today or talk to a Horizon Bank advisor to learn more. 

Call us Contact us Learn more about home equity