The bill you didn’t plan for. The project you did.
Both come out of the same place — the equity in your home. A new roof, a medical bill, the credit cards that got away from you: your house can carry some of the weight. Let’s figure out the smart way to do it.
You don't have to be a member to start the conversation.
Want the detail first? Compare your two options.
Joselyn did an amazing job helping me with my home equity loan. She made the whole process easy to understand and quick.
Listening came first, we ran numbers after — and with “less than perfect credit” I signed on a HELOC with great rates. Let the remodeling begin.
4.8★ 
(2,900+ reviews)
2023 National Credit Union of the Year
Serving Iowa since 1949
CDFICertified CDFICertified by the U.S. Treasury’s CDFI Fund to serve low-income communities
Two ways to use your equity. Here's the honest difference.
Banks tend to push whichever one pays them better. Here's how we'd explain it to a neighbor:
HELOC: a line of credit
Borrow as you need it, pay interest only on what you've used. Best when the costs come in waves: a project that happens in stages, or a just-in-case cushion.
- Borrow money as needed
- APR based off of prime lending rate
- Monthly payment is only 1% of the amount borrowed (pay only $100/month on a $10,000 balance)
- No application or annual fees
- Interest may be tax-deductible*
Home Equity Loan: fixed
One lump sum, one fixed rate, one predictable payment. Best when you know the number: a roof, a furnace, consolidating debt at one rate you can plan around.
- Funds are disbursed in a lump sum
- Loan paid back over a low, fixed rate
- Repayment terms up to 15 years
- Interest may be tax-deductible*
Not sure which fits? That's normal. It's a ten-minute conversation, not a test.
What are you trying to get done?
Something needs fixing
The furnace didn't ask if it was a good time. A repair loan against your equity is usually the cheapest money available to a homeowner.
I'm digging out of debt
Cards and medical bills at 20-something percent can sometimes move to one payment at a much lower rate. It's not magic. It's math, and we'll show it to you.
I've got a project in stages
Kitchen this year, bathroom next. A line of credit means you borrow when each stage starts, not all at once.
The fine print, up front.
HELOC payments run 1% of your balance a month: $100 on a $10,000 balance. And there's no application fee and no annual fee to keep the line open. Open a $10,000 line, leave it sitting, and you've got a backup plan that costs you nothing until the day you need it.
**Loan will adjust to the prime lending rate based off of risk based model. Floor rate of 4.0% APR and ceiling rate of 18.0% APR. No annual fees.
What the fine print won't tell you
- “As low as” usually isn't your rate
Equity products are priced off prime plus a margin based on your situation. We'll tell you your actual number before you sign anything, not after. - A line of credit can quietly become a habit
A HELOC is a tool, not extra income. We'd rather talk you out of borrowing than watch the balance creep. - Consolidation only works if the cards stay paid off
Moving debt to your house and re-running the cards puts your home behind the problem. We'll say that to your face, kindly.
We make loans against houses. We'd rather lose a loan than see you lose the house. That's the whole philosophy.
Sometimes the smartest move is to wait.
Not sure tapping your equity is the answer?
Good instinct. Sometimes the answer is a plan, not a loan. Affinity offers free financial coaching: no account required, no pressure, just a conversation about where you are and what would actually help. If borrowing isn't the right tool for this one, we'll tell you that, too.
- Free
- No account required
- No pressure
Gage Smith, AFC · Accredited Financial Counselor · 515-777-7824 · gsmith@affinitycuia.org
Do the math before you decide
Plug in what you need, and we'll show you what it looks like as a line and as a fixed loan. No login. No personal info. Just the math.
Estimates only — not a commitment to lend. Your actual rate, payment, and term depend on your credit, your home’s value, and what you still owe on it.
Where your rate would land
Every equity product is priced off the prime rate plus a margin that depends on your situation. Published range today: floor 4.0% APR to ceiling 18.0% APR.** Where you land in that range is exactly what the ten-minute conversation is for.
You can also check today's posted rates any time.
That range exists because the situation behind every loan is different. We'd rather tell you the truth than show you a number that probably isn't yours.
“From beginning to end of getting home equity line of credit, it was explained and a very quick painless process. Everyone kept in touch throughout the process.”
Paula, review, May 2021
Meet your lending team
Real people who pick up the phone, not a call center. Ask for anyone.
If it's useful
Auto loans
Refinancing or buying: real numbers from a real person, even if the bank said no.
Mortgage
First home, next home, or rethinking the one you've got. From hello to house keys.
Everything else we do
Checking, savings, credit cards, personal loans: the whole toolbox, one credit union.
Common questions
*Consult your tax advisor regarding deductibility of interest. **Loan will adjust to the prime lending rate based off of risk based model. Floor rate of 4.0% APR and ceiling rate of 18.0% APR. No annual fees.