With a Home Equity Loan or Line of Credit, you can use one of your most powerful assets, the equity in your home, to borrow funds for a variety of reasons. These can be a great way to pay for home repairs or renovations, emergency expenses, debt consolidation, education expenses, vacation and more.

Your home’s equity is determined by subtracting any balances owed (like a mortgage) from the market value of your home.  Because the loan is secured by the equity in your home, you can borrow at lower rates than with traditional unsecured loans.

We offer both fixed-term Home Equity Loans and a revolving Home Equity Line of Credit (HELOC)

Home Equity Loan

With a Home Equity Loan, you borrow a lump sum of money up front and make fixed monthly payments over the term of the loan. Your rate and your payments will not change throughout the repayment term.

Kit members can borrow up to 90% of the equity in their home, with flexible loan terms up to 240 months. Interest paid on your Home Equity loan may be tax deductible (consult your tax advisor).

Home Equity Line of Credit

A HELOC is a great option to have if you suddenly need access to funds for an emergency or large expense. Qualified borrowers can access a line of credit of up to 90% of their home’s equity. 

When you need to tap into your HELOC, you can simply transfer the funds through Online or Mobile Banking. Withdraw funds as you need them (up to your available limit), and you’ll only make payments on the amount you have borrowed against the line of credit. As you repay what you have borrowed, your available line to borrow from increases.

Home Equity Loans and Lines available in KY and IN only. Home Equity Line of Credit is a variable rate product, with rate adjustment evaluation every April 1st and October 1st.