Home Equity Loans
A Home Equity Loan1 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
- Consolidate your debt
- Purchase a new car, truck, or boat
- Take that overdue vacation
First Midwest is even offering you a chance to win $20,000 toward your next home improvement with our $20K Giveaway* between March 8 and and April 25, 2014. Enter to win today.*
Get a .25% Discount on Your First Midwest Home Equity Loan
First Midwest Checking clients get a 0.25% rate discount2 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-deductible3. We offer a streamlined loan application process, and we'll help you get the best possible terms.
Personalized Rate Quote
Get started with the application process and get your free personalized rate quote by completing the form to the right. In 30 seconds, you'll be connected with a First Midwest Home Equity expert who will work with you every step of the way – from application to closing and beyond.