Home Equity Loans
A Home Equity Loan from First Midwest can be a smart borrowing option for many homeowners. Simply stated, home equity is the difference between how much your home is worth and how much you owe on your mortgage. By using the equity in your home, you have the power to finance a major purchase or cover just about any significant financial need:
- Make home improvements
- Pay for your child's education
- Reduce your debt
- Purchase a new car, truck, or boat
- Take that overdue vacation
We are now accepting up to 90% loan-to-value3, making it easier than ever to qualify for a Home Equity Installment Loan.
Get a .25% Discount on Your First Midwest Home Equity Loan
First Midwest Checking clients get a 0.25% rate discount1 on a home equity loan as a relationship reward.
With flexible terms and fully amortizing or balloon structures, your First Midwest Home Equity Loan will work hard for you. Combine your Home Equity Loan with a First Midwest Checking account, and you could qualify for a rate discount! Finally, you'll get 100 Tuition Rewards points plus 5% of the original amount of your Home Equity Loan in additional Tuition Rewards points.
A First Midwest Home Equity Loan typically has a lower interest rate than most traditional loans or credit cards, and the interest may be tax-deductible2. We offer a streamlined loan application process, and we'll help you get the best possible terms.
Call 800-241-1749 to get connected with a First Midwest home equity expert, or simply complete your application online right now. Whatever you decide, we'll work with you every step of the way – from application to closing and beyond.Apply Now