When Life Changes, a Home Equity Line Can Help!



Remodel your Home

Picture of blueprint and bathroom remodel.

Fund College

Picture of piggy bank labeled College with coins in the background

Consolidate Debt

Picture of person cutting up their credit card.

Whether it's to remodel your home, fund college, or consolidate debt ~ your dream is within reach!
  • Affordable payments
  • Easy online access
  • Pay it off today, tomorrow, or 30 years from now
To Apply Now, there are multiple options available to you:
  1. Call (815) 459-2000 to speak with a Personal Banker to set up an appointment.
  2. Complete the submittable PDF via link below and print it out, then:
         a. either bring it to one of our banking center lobbies, or;
         b. scan completed application and email it to HSBpromotions@homestateonline.com
         c. please put "HELOC Application" in the subject line of email.


APR means Annual Percentage Rate which is a measure of the cost to borrow money expressed as a yearly percentage. The interest rate will vary based upon the highest prime rate published in The Wall Street Journal (8.50% as of 10/11/2023) plus a margin. As of 10/11/2023, lines of credit up to $100,000 with an 80% combined loan-to-value, have a margin of .75% for an APR of 9.25%. Higher loan amounts are available at prime plus 0% or 8.50% APR for up to 80% loan-to-value. Your APR will not exceed 18.00% APR or go below 3.75% APR at any time. Your APR will depend on the specific characteristics of your credit transaction, including evaluation of credit history, loan to value, and amount of credit.

The line of credit has a draw period of 10 years with monthly payments of interest only. When the line converts to the 20-year repayment phase you will no longer have access to borrow and the monthly payment will be calculated to repay the loan. A change in the prime rate can cause the balance to be repaid more quickly or more slowly. When interest rates increase, more of the monthly payment goes to interest and could result in a larger final payment.

Home State Bank pays all HELOC closing costs. There is an annual fee of $50 which is waived for the first year. The minimum line of credit amount is $5,001. If the account is closed within the first 3 years you will be required to pay a $500 pre-payment fee. Please consult your tax advisor regarding interest deductibility.
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