Home Equity
Put Your Home's Value to Work
You've worked hard to build equity in your home. Now let it work for you. Portage Bank's home equity options give you flexible access to funds when you need them, whether you're renovating, covering education costs, consolidating debt, or handling a major expense.
Equal Housing Lender - Member FDIC
NMLS #1831756
Home Equity Line of Credit (HELOC)
A HELOC works like a revolving line of credit secured by your home. You can draw funds as needed during the draw period and repay on a flexible schedule.
HELOC Benefits
Access funds anytime during the draw period*
Only pay interest on what you borrow**
Revolving credit: repay and borrow again as needed
Typically lower rates than credit cards or personal loans***
Interest may be tax-deductible for home-related expenses****
Funds accessible in-person, by check, or via account transfer
*The plan is subject to change and may be suspended or terminated. Your home is collateral. You could lose your home if you fail to repay.
**HELOCs typically carry a variable interest rate. Your rate and monthly payment may increase after the initial draw period. Rate and payment caps may apply — ask your loan officer for details.
***Rates and APR vary based on creditworthiness, loan amount, and other factors.
****Tax deductibility of HELOC interest depends on how funds are used. Consult a tax advisor for your specific situation.
Home Equity Loan
Get the process started today.
A home equity loan gives you a lump sum upfront, repaid over a fixed term at a fixed rate. Great for one-time expenses where you know exactly how much you need.
Home Equity Loan Benefits
Fixed interest rate for predictable monthly payments
Lump sum disbursement, perfect for large, defined expenses
Competitive rates compared to unsecured borrowing
Interest may be tax-deductible for qualifying uses***
No mention of draw period length, repayment period, or typical HELOC term ranges — thin on product specifics.
Common Uses
Home renovations and improvements
Debt consolidation
Education expenses
Major purchases or life events
Emergency funds or medical expenses
Investment opportunities
How Much Can You Borrow?
Your available equity depends on your home's current market value and your outstanding mortgage balance. Maximum borrowing amounts are subject to Portage Bank's underwriting guidelines and applicable LTV limits. Contact a loan officer to find out how much equity you may be able to access.
Access Your Equity Today
Talk to a Portage loan officer to explore your home equity options. We'll help you figure out how much you can access and find the right product for your needs.
Benefits of choosing Portage
Customization
We work with you to tailor loans to your specific needs and budget.
Ease
Our competitive rates, variety of options, and helpful approach make getting the right loan easy.
Relationships
We’re here to build a lasting partnership and find the best way to help you reach your goals.
Disclosures:
All loans subject to credit approval. Rates, terms, and conditions subject to change. [NMLS #1831756]You have the right to receive a copy of any appraisal used in connection with your loan application.All rates are subject to change without notice and depend on creditworthiness, loan amount, term, and other factors. Contact a loan officer for a personalized rate quote.We are committed to fair lending. We do not discriminate on the basis of race, color, religion, national origin, sex, familial status, disability, age, or any other characteristic protected by law.Loan officers are licensed mortgage professionals. Verify at nmlsconsumeraccess.org.