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The power of your home.

You’ve built value in your home. Now you can use that value to take control of your financial future. With a home equity loan, you can pay down high-interest debt, make home improvements, and more. All while supporting your community.

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HOME EQUITY LOANS

Harness the value in your home.

HOME EQUITY LOANS

Harness the value in your home.

When you own your home, you may be able to use your home equity to finance other financial goals. Home equity loans are a great option to get relief from high-interest debt, to invest back into your home by making renovations, and more.
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Your home's equity.

Equity is the difference between the appraised value of your home and what you still owe on your mortgage. While you’ve been paying your mortgage, you’ve also been building up your home’s equity. This value is considered during the approval process for your loan.

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Get relief from high-interest debt.

You’ve built value in your home. With a home equity loan, that value can provide more for you than a roof over your head. It can provide relief from high-interest debts. And help lift you toward your financial goals.

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Make it your dream home.

Whether it’s adding more space. Or renovating your space. Use the value you’ve already built in your home to create the updates of your dreams with a home equity loan.

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Support your neighbors.

When you work with us on your home equity loan, we’ll give back to a Michigan housing nonprofit after you close your loan.1 Harness the value in your home. And empower your community at the same time. That’s the power in all of us.

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Your home equity loan options.

There are two home equity loan options. One is a fixed home equity loan, and one is a home equity line of credit. Allowing you to choose the option that works best for your goals.

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Fixed home equity loan.

This loan option allows you to access all your financing at once. A great option if you know how much you plan to spend on your project or purchase. Then you’ll make the same monthly payment over time. It’s predictable and consistent.

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HELOC

 

Home equity line of credit (HELOC).

This loan option offers a revolving credit line secured against your home, so your payments could change based on how much you’re using. Allowing you to pull funds as you need them. This is a good option if you need to pay for supplies or pay contractors at different times during a project. It’s flexible and adaptable.

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FINANCIAL WELLBEING LIBRARY

Empower your financial future.

You have the power to take control of your finances. Reach your goals. And dream bigger. Find resources and articles here to help you on your journey.

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Fixed Home Equity Loan
AS LOW AS [rate:he_1st_as_low_as] APR2

Access all your financing at once. Pay a fixed amount over a fixed period.
INTEREST
As low as [rate:he_1st_as_low_as] APR2
MINIMUM LOAN AMOUNT
$10,000
APPLY NOW
MORE DETAILS

Predictable monthly payments over a specific term

Refinance your existing debt, make home improvements, or use for other needs

Primary residence: Both first and second mortgages available

Non-primary residence: Only first mortgage loans available

No application or origination fee

10-, 15-, or 20-year terms

One lump sum access to funds

Escrow available for taxes and insurance

No pre-payment penalty

Consult a tax advisor about potential deductibility of interest

Home Equity Line of Credit (HELOC)
APR2 As low as [rate:heloc_rate], VARIABLE BASED ON PRIME 3

Pull funds as you need them. Payment and length of payment depends on use.
INTEREST
As low as [rate:heloc_rate] APR2, Variable based on prime3
MINIMUM LOAN AMOUNT
$10,000
APPLY NOW
MORE DETAILS

Access your money when you need it

Funds become available again when you pay down the balance

No application or origination fee

Primary residence only

5-year draw period (may be renewed upon re-evaluation)

Monthly payment: Only 2% of the outstanding principal balance ($100 minimum)

No pre-payment penalty

Consult a tax advisor about potential deductibility of interest

1 Apply for a fixed home equity loan or home equity line of credit (HELOC) from January 1, 2025, through December 31, 2025, and $20 will be donated after closing your loan. Donations will be made to nonprofit organizations focused on housing and shelter through our partnership with the Lake Trust Foundation. Lake Trust Credit Union membership required. Offer may not be combined with any other promo or discount. The promo has no cash value and is non-transferrable. Terms subject to credit and loan approval. Other restrictions may apply. Lake Trust is an Equal Housing Lender, NMLS #695868

 

2 APR=Annual Percentage Rate. Rates based on credit history, term, security, and amount borrowed. Rates effective [rate:he_effective_date] and subject to change.

 

3 The HELOC annual percentage rate (APR) can change quarterly based on the value of an index. The maximum APR that can apply during the plan is 18% and the minimum APR that can apply during the plan is 4%.

Forbes 2025 Best-In-State Credit Unions

Lake Trust is honored to be a Forbes Best-In-State Credit Union.

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