Home Equity Line of Credit

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Your home's equity can help you achieve your goals

Our Home Equity Line of Credit (HELOC) gives you the opportunity to use the equity you’ve built in your home to help pay for things like home improvement projects, major purchases, and anything you might need 'just in case.'


  • The flexibility you need - You pay interest only on the amount you use out of the total you borrow on your HELOC. And, you have the option of locking in a portion of your loan with fixed monthly payments.
  • Use up to 90% of your home's value - Put the equity in your home to work for home improvement projects, debt consolidation and more based on your CLTV.


Intro rate as low as

6.49% APR*

for 12 months

As low as

9.25% APR*

after intro period

Learn more about HELOCs

If you’re unfamiliar with HELOCs, check out some helpful links below. Otherwise, feel free to reach out to our consumer lending team with any questions!

What is a home equity line of credit (HELOC)?

A HELOC, also known as a home equity line of credit, lets you borrow against the equity you’ve built in your home through a secure credit line. The interest rates through a HELOC are often lower compared to other loans. Since HELOCs are a line of credit, you have flexibility around borrowing and repaying money. Additionally, the interest you pay may be tax deductible.

How does a HELOC work?

Essentially, a HELOC works like a credit card. Your lender sets the credit limit and you can borrow up to that amount. You have the flexibility to make payments on a daily or weekly basis; whichever works best for you.

What is the difference between HELOC and home equity loan?

A HELOC and home equity loan are quite similar but the main differences come down to:

  • The way funds are distributed. HELOCs funds are set at a credit limit and you have a limited period where you can withdraw funds. Home equity loans pay you out in an upfront lump sum.
  • The interest rate. HELOCs are usually a variable rate as it's a revolving line of credit. Home equity loans are usually a fixed rate.
  • Payment method. When it comes to HELOCs, you only pay back the amount you borrowed once funds are drawn. With a home equity loan, you're expected to make periodic payments over a set time frame.

Read this article that covers the difference between a HELOC and home equity loan in depth.

What additional fees are there?

Setting up your HELOC could incur some additional fees. Be sure to ask your lender what you can expect once the process is complete so you're not blindsided by anything. Keep in mind that these are some fees you might see with a HELOC. Many of the terms and fees are determined by the lender. Take some time to research these fees and consult with your lender.

  • Appraisal fees
  • Application fees
  • Upfront charges
  • Attorney fees
  • Title search fees
  • Mortgage preparation and filing
  • Annual fee
  • Transaction fees

What risks come with a HELOC?

The biggest risk you face with a HELOC is if you fail to make your payment, you could lose your house because it’s being used as collateral for your HELOC. Banks have made strides to protect you from such losses, but the risk still remains in the event you’re unable to make payments.

Another risk with HELOCs deals with your credit line. Your lender may have the ability to reduce or freeze it. This would occur if you have missed your payments or other impacts within the market that could affect your home’s equity or the economy in general.

One more notable risk for HELOC borrowers are market forces. Usually, HELOC interest rates are variable and that means it can change. The interest rate is often tied to the prime rate and any changes within the market can affect your HELOC.

We've got your back

We believe everyone should be the boss of borrowing. That’s why we have a team of lending consultants ready to answer questions and help you navigate the process.

*APR – Annual Percentage Rate. Introductory APR of 6.49% is fixed for 12 months following account opening date. After the introductory period, the APR will vary for the remaining life of the loan based on the combined loan-to-value (CLTV), which as of 5/31/2024, ranged from 9.25% to 10.50%. Rate offer of 9.25% is based upon a CLTV of 70% or less. The APR will not exceed 15%. There is a minimum loan amount of $10,000 and a maximum CLTV of 90%. Subject to credit approval. Rates are subject to change without notice. Fees range between $200 and $2,000. Introductory Annual Percentage Rate (APR) of 6.49% available on new lines of credit only; introductory rate offer not available for refinances of existing First Federal Bank of Kansas City Home Equity Lines of Credit.


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