Home Equity Loan

One-Time Loan… for that One-Time Purchase

If there is a large purchase on your horizon or you’re suddenly faced with a significant and unexpected expense, such as a large tax or college tuition bill, an Alliant Home Equity Loan might be right for you.

• Take a one-time draw on the equity in your home
• Borrow up to 80% of the equity in your home*
• Repayment terms up to 15 years
• Fixed rate and payment for the life of the loan
• Available in the following states

Alliant’s Home Equity Loan features several attractive benefits that save you time and money.

• Fixed rates as low as 5.500 to 6.500% APR
• No closing costs, application, appraisal or annual fees
• Quick approval process
• Borrow up to 80% of your home’s value upon qualification*
• Potential tax savings – the interest may be tax deductible (consult your tax advisor)
• Convenient automatic payment option
• Best of all, we offer competitive rates

*The maximum applies to all states in which Alliant offers home equity products except the following states (where the maximum LTV is 75%): AZ, CA, CT, FL, HI, MA, MD, MI, MN, NJ, NV, OH and VA.

Frequently Asked Questions

How do I choose between the different equity products?
Each type of product has specific advantages. For example, the Home Equity Line of Credit gives you the flexibility to only use the funds on an “as-needed” basis, like a checking account. Our Home Equity Loan gives you a one-time draw, which can be especially useful for a large initial purchase. Talk to an Alliant Home Equity Specialist to find the loan that’s right for you.

Why should I get a home equity loan?
From time to time, everybody has unexpected expenses, cash shortfalls or large purchases to make. Instead of cashing in stocks or investments that can increase in value over time, you can use the equity in your home to open an Alliant Home Equity Line of Credit (HELOC) or Home Equity Loan. You’ll get a low interest rate, flexible terms and low monthly payments too.

How much equity in my home do I need to get an Alliant Home Equity loan?
The amount of equity you currently have in your home will be one of the factors that determine the credit limit or loan amount. Consult with an Alliant Home Equity advisor for more information.

Member’s Choice Protection

Alliant is pleased to offer MEMBER’S CHOICE™ Protection for Home Equity Loans and traditional Home Equity Lines of Credit (HELOC)*. By choosing this low-cost valuable payment protection for your Home Equity loan or Home Equity Line of Credit (HELOC), you’ll be adding a safety net of comfort and peace-of-mind for you and your loved ones, if you encounter unforeseen financial difficulty due to disability or death.

• Provides peace-of-mind for only pennies a day
• Protects you and your family by canceling your monthly payment, up to the plan maximum, in the event of disability; or your outstanding loan balance, up to the plan maximum, in the event of death
• Protects you from loss of income with involuntary unemployment coverage
• Helps preserve your valuable credit rating
• Helps shelter you from bankruptcy, foreclosure and repossession
• Protection available up to age 70 on all home equity loan protection options

Home Equity Protection Options*
Select your preferred protection package on the Home Equity Application.

Option #1: Home Equity Life Plan

• Protects up to 2 borrowers per loan for just pennies a day
• Protection for loss of life only
• Cancels your outstanding loan balance up to $100,000 in the event of death

Option #2: Equity Complete Plan

• Protects up to two borrowers per loan for just pennies a day
• Protection includes life, disability and involuntary unemployment
• Cancels your outstanding loan balance up to $100,000 in the event of death
• Cancels your monthly loan payment up to 12 months or $12,000 in the event of disability
• Defers loan payments for up to 6 months if involuntarily unemployed

Option #3: Transitional Equity Life Plan

• Protects up to 2 borrowers per loan for just pennies a day
• Protection for loss of life only
• Cancels your monthly loan payment up to 12 months or $12,000 in the event of death

Option #4: Transitional Equity Complete Plan

• Protects up to 2 borrowers per loan for just pennies a day
• Protection includes life, disability and involuntary unemployment
• Cancels your monthly loan payment up to 12 months or $12,000 in the event of death
• Cancels your monthly loan payment up to 12 months or $12,000 in the event of disability
• Defers loan payments for up to 6 months if involuntarily unemployed

Check our fee schedule.