Home Equity

IMPROVE.

Use the equity in your home to make those improvements you have always wanted.

Photo collage with a woman holding roll of wallpaper up against the wall on the left and a larger paint brush roller going over a kitchen renovation image on right

Right now, you can open a Home Equity Line of Credit (HELOC) with:

4.24% APR* 6 month introductory rate, then as low as 7.50-8.50% variable APR*
No Annual Fee during the 6 month intro period*
No Underwriting Fee

Apply Online

*APR=Annual Percentage Rate. Introductory rate is 4.24% fixed APR for the first 6 months. After the introductory period ends, the rate will vary with the Prime Rate as published in the Wall Street Journal plus a margin of up to 1% for the remaining term. Your actual rate will be based upon credit worthiness and loan-to-value (LTV). As of 01/31/2025, the variable rate would be 7.50% for customers with a 0% margin, or 8.50% APR for customers with a 1% margin. The APR will not vary above a maximum 18%. Prime rate as of 01/31/2025 is 7.50%. Loans are subject to credit approval and program guidelines. Property securing the loan must be an owner-occupied primary residence. This offer applies to new Bank of Prairie du Sac Home Equity Lines of Credit (HELOC) with applications received between 02/01/2025 and 07/31/2025. To qualify as new, applicant may not have an existing HELOC with Bank of Prairie du Sac. Maximum LTV is 90% if first mortgage is with Bank of Prairie du Sac, or 80% for all others. HELOC applications with credit limits over $399,000 are not eligible for the introductory rate. Special offering is only available to those with a Bank of Prairie du Sac checking account. Property insurance is required. If the collateral is determined to be in a special flood hazard area, flood insurance will be required. Closing costs range from $230 to $833. Term of HELOC is 15 years with a balloon payment of remaining loan balance due at maturity. $50 annual account fee will be billed after the introductory period for the remaining term (years 2-14). Not valid with any other offers. Interest rates and program terms are subject to change without notice. Bank of Prairie du Sac NMLS#673057

Convenient Collateral

Home equity loans and home equity lines of credit are two ways you can use the equity in your house to borrow funds for a variety of reasons.

Home Equity Loans

With a home equity loan, you borrow a specific amount for whatever your needs — such as a home remodel, debt consolidation, or a new vehicle.

Home equity loans may qualify for tax-deductible interest (check with your tax advisor). They also lend themselves to easy budgeting since the monthly payments of principal and interest are fixed.

Home Equity Line of Credit

You have worked hard to build equity in your home. Put it to work for you with a HELOC! Borrow what you need, when you need it, for projects around your home, paying off higher interest debt, or making large purchases.

It is time to say yes to that updated kitchen, finished basement, new car, or debt consolidation!

Crystal Lautenbach VP, Mortgage Lending Email NMLS #451162

Meet Crystal Lautenbach

VP, Mortgage Lending

Crystal has more than 20 years of experience in banking. She has a passion for helping customers finance the home of their dreams, whether they are looking to buy or build. Born and raised in Sauk Prairie, she has an in-depth understanding of the local home market and community features. Crystal also offers home equity loans and lines of credit for those looking to use the equity in their home to finance that special project. She is actively involved in the Sauk Prairie community, volunteering for Friends of Sauk Prairie Parks and Recreation.

HELOC FAQ

A home equity line of credit, often called HELOC, is a revolving line of credit with interest-only payments. It uses a portion of the equity in your home to borrow money at low interest rates for any purpose. It allows you to access money when needed without needing to reapply for a new loan.

Homeowners with equity in their home, especially those with a low fixed rate on their first mortgage, can benefit from a HELOC. A HELOC can provide funds as you need them, both now and in the future. You can borrow, repay, and re-borrow up to your credit limit as often as you wish.

You can borrow up to 80–90% of your home’s value minus the remaining balance of your mortgage for a HELOC. Talk to one of our lenders to see how much you qualify to borrow.

You can use your line of credit for anything. Common uses of a HELOC include home improvements, consolidation loans, vacations, vehicle or boat purchases, weddings, medical expenses, education, or starting a business. Access HELOC funds easily with our Online Banking and Mobile App or by writing a check.

The interest rate will vary with the Prime Rate as published in the Wall Street Journal, plus a margin of up to 1%.¹

Home equity loans provide you with one lump sum, which is typically repaid with equal monthly payments over the term of the loan.

A HELOC is more flexible, because it is a form of revolving credit, similar to a credit card. You are given a credit limit and can use as much or as little of that credit limit as you want. You only pay interest on the balance you have borrowed. A HELOC allows you to borrow, repay, and re-borrow up to your credit limit as often as you wish.

Your monthly payments will be only the interest accrued on the amount you have used of your credit line.

You can make principal payments on the balance of your credit line at any time over the term of the HELOC. A balloon payment of any remaining balance will be due at the end of the HELOC term (15 years from the opened date).¹

We do not charge any underwriting fees, but there may be other fees involved in opening a HELOC.¹ Closing costs could include fees for title, recording, appraisal or evaluation, or more. In most cases, costs range from $163 to $414 unless an appraisal is required. An appraisal typically costs $400 if it is required. Talk to our lenders to learn what closing costs may apply for your situation.

An annual fee of $50 does apply to HELOC accounts. There are no transaction fees.

Talk to one of our mortgage lenders to get started! Call our office at 608.643.3393 or schedule an appointment.

Home Equity

IMPROVE.

Right now, you can open a Home Equity Line of Credit (HELOC) with:

Convenient Collateral

Home Equity Loans

Home Equity Line of Credit

HELOC FAQ

What is a home equity line of credit?

Is a home equity line of credit right for me?

How much can I borrow?

How can a HELOC be used?

Will the interest rate change?

What is the difference between a HELOC and a home equity loan?

What will my monthly payments be?

How do I make payments toward my HELOC balance?

How much does it cost to open a HELOC?

Does a HELOC have any fees?

How do I apply for a HELOC?