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Home Equity Loans

You've done a lot for your home. Now let your home do something for you.

Maximize the equity in your home or vacation property with a home equity loan from SPIRE. Funds can be used for anything - home improvements, debt consolidation, medical bills, or that trip of a lifetime!

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Your loan stays local with our local loan officers.
Talk through your options with a SPIRE representative or apply today!

We believe SPIRE is more than a financial institution. Our Core Purpose is to improve lives and we want to be a partner in life with you.

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Pay a Maximum of $500* in Closing Costs

When you open a SPIRE home equity loan or line of credit,
you'll only pay up to $500 in closing costs.
We'll cover the rest!

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Home Equity Fixed-rate Loan

A Home Equity loan is a second mortgage or lien on your home.
You still pay your regular monthly mortgage payment in addition to your home equity loan payment.

​You can borrow up to 90% of the value of your primary home.

SPIRE offers 5-15 year terms with a low fixed rate that won’t change over the term of the loan.

Minimum loan amount is $10,000 and maximum is $250,000.

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Home Equity Line of Credit

Not sure how much you need or when you’ll need it? A Home Equity Line of Credit (HELOC) is revolving and works similar to a credit card.

Get the funds when you need them and pay interest only on the balance.

Use the funds to remodel your house, build a deck, pay off debt, go on a dream vacation, or anything else your heart desires!

5-year Draw

You can borrow up to 85% of the value of your primary home.
Interest-only payments are available during the draw period.
This is a variable rate loan with a minimum loan amount of $10,000 and maximum of $50,000.


10-year Draw

Borrow up to 75% of the value of your primary home.
Interest-only payments are available during the draw period.
A variable rate loan with a minimum loan amount of $10,000 and maximum of $100,000.

Home Equity Rates

Primary Residence

Home Equity; Second Lien Position (Primary Residence)Rates Effective: 1/21/2022

APR* Monthly Term Monthly Payment
Home Equity - 5yr. CLTV up to 80%4.00060$920.83
Home Equity - 5yr. CLTV up to 90%4.75060$937.85
Home Equity - 7yr. CLTV up to 80%4.25084$689.21
Home Equity - 7yr. CLTV up to 85%5.00084$706.70
Home Equity - 10yr. CLTV up to 80%4.500120$518.19
Home Equity - 15yr. CLTV up to 80%4.750180$388.92

*APR =  Annual Percentage Rate. Monthly Principal & interest payment based on loan amount of $50,000. Maximum loan amount for a fixed rate loan is $250,000  Minimum loan amount is $10,000 for 5-10 year terms and $15,000 for a 15 year term. A minimum of $10,000 must be new money at SPIRE. Property must be the primary or secondary residence and property insurance is required. Residential properties only located in MN or WI. Commercial, agriculture and large acreage properties excluded from offer. SPIRE member responsible to pay up to $500 toward closing costs, which includes the cost of the required appraisal. If the loan does not close, the cost of the appraisal will not be refunded. Offer subject to termination at any time. The stated rates are the lowest available and subject to change at any time without notice. Rates are based on credit history, loan-to-value, and other factors so your rate may different. Borrower must meet membership requirements to qualify. Other restrictions may apply. See your tax advisor for details regarding interest deductibility.

Home Equity Line of Credit
Second Homes/Vacation Homes

VIEW ALL RATES View all Rates icon

SPIRE Mortgage Loan Officer

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Whether you're looking to understand the process or ready to apply, your loan officer will be with you at every turn.
Meet With Your Loan Officer

Calculate Your Loan

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Find out how much your payments will be each month by comparing various terms and rates.

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Home Equity Application Checklist

We make the process quick and easy. Gather the following items for your home equity loan application:

Your current mortgage loan information
including where loan is financed, monthly payment amount and balance, if applicable.

The annual amount of your property tax and homeowner’s insurance costs
if they are not included in your first mortgage payment.

Annual or hourly income information for all applicants on the loan
along with the employer’s name, date of hire, and current position.

Driver’s license and social security numbers
for all applicants on the loan.

For debt consolidation,
have the creditor's name(s) and the balance owed for those pay-offs.


NMLS #469510
NMLS Active Numbers
Interest may be tax deductible. See your tax advisor for complete details. Property must be located in the State of Minnesota or Wisconsin. Property insurance is required.

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