Loans

Home Equity Line-of-Credit 


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Abri Home Equity Lines-of-Credit and Loans are available on residences located in Illinois or Idaho. Residences include single-family owner occupied homes, townhouse, condo, duplex and 1-4 family residences. What you should know about Home Equity Lines of Credit>

Home Equity Line-of-Credit

The perfect way to borrow for recurring expenses. Blog icon Check out our blog - Saving on Home Renovations

Monthly Payment

Principal & Interest
Loan Amounts
  • Up to 90% Loan to Value on owner-occupied properties for qualified borrowers.
  • Minimum $10,000
  • Maximum $200,000 (For higher loan amounts, please contact us.)
Advance Amounts

After 1st advance, minimum subsequent advances are $500
Easy Advances
  • Online Banking
  • Checks (25 free checks)
  • In person
Closing Costs

May vary, please contact our Real Estate department at (815) 267-7700 or email us for a breakdown of closing costs
Approval time

Usually within 24 hours pending appraisal & title
Terms
  • 20 year (5 year draw period with 15 year repayment period) 
  • 30 year (10 year draw period with 20 year repayment period)
Application Fee $99 non-refundable
Payment Options
  • Direct Deposit with Automatic transfer
  • Payroll deduction†
  • Online Banking transfer
  • By mail or in person
Rates & Index/Margin 20 Year Line-of-Credit (5 year draw - 15 year repayment) 
Line-of-Credit Rates* APR Index/Margin
$10,000 - $24,999.99 9.25% 9.32% Prime + 1.5%
$25,000 - $49,999.99 8.75% 8.78% Prime + 1%
$50,000 - $99,999.99 8.25% 8.27% Prime + .50%
$100,000 and above 7.75% 7.77% Prime

Rates shown above are based on a loan-to-value (LTV) of 80% or less. If the LTV exceeds 80%, add 1% to the current rate.
* Maximum APR is 18%.
Rates &
Index/Margin		 30 Year Line-of-Credit (10 year draw - 20 year repayment) 
Line-of-Credit Rates* APR Index/Margin
$10,000 - $24,999.99 9.75% 9.81% Prime + 2.0%
$25,000 - $49,999.99 9.25% 9.28% Prime + 1.5%
$50,000 - $99,999.99 8.75% 8.76% Prime + 1.0%
$100,000 and above 7.75% 7.76% Prime + .50%

Rates shown above are based on a loan-to-value (LTV) of 80% or less. If the LTV exceeds 80%, add 1% to the current rate.
Prime Rate according to the Wall Street Journal as of 11/7/2024 was 7.75% 
* Maximum APR is 18%.
Annual Fee

$50 - waived for the first year
Early Closure Fee

Up to $250 if you pay off and close your Home Equity Line-of-Credit within the first 2 years.


†Please email us or call 815-267-7700 to see if your employer offers payroll deduction.
* Maximum APR is 18%.

Apply
 

For more information, e-mail [email protected] or call our Real Estate Department
at (815) 267-7700 or make an appointment.