Home Equity & Improvements

Home Equity & Improvements

Put Your Home Equity to Work

Tap into the power of your home's equity with our flexible financing solutions. Whether you're planning a dream renovation, a family vacation, a major purchase, or investing in your child's education, we have options to fit your needs.

We offer fixed-rate Home Equity Loans, flexible HELOCs, and affordable Home Improvement Loans to help you unlock your home's potential and turn your goals into reality.

Home Equity products are currently available for properties in Minnesota, Wisconsin, and South Dakota.

Overview

Home Equity & Improvement Loans

Home Equity Loan

A fixed-rate loan provides you with all needed funds distributed up-front. Budgeting is easy as the monthly payment is consistent for the life of the loan. Interest paid may be tax deductible.**

5.99 - 7.75% APR*

Fixed rate for the duration of the loan

Loan funds distributed up-front

Home Equity Line of Credit (HELOC)

A line of credit provides you with the flexibility to access funds whenever you need them. Rates are variable and monthly payments vary based on rate at the time and the amount of funds borrowed.

8.00% APR*

Flexible access to funds, distributed when you need them

Variable rates and monthly payments

Home Improvement Loan

A fixed rate Home Improvement Loan is an option for adding value to your home without depleting your existing equity. Make your dream project an affordable reality!

9.49% APR*

Fixed rate for the duration of the loan

Add value to your home without depleting existing equity

Get started

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Apply for a Home Equity & Improvement Loan online, 24/7

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Contact a Novation Representative to learn more about our Home Equity & Improvement Loans.

Current Rates

Compare our current rates for Home Equity & Improvement Loans

*APR = Annual Percentage Rate. Rates listed are "as low as" and based upon credit history. Home Equity Line of Credit is a variable rate product but will not exceed 18% APR. A payment example on a 5 year term, $20,000 home equity fixed rate loan at 5.99% APR is $386.58 per month.

Rates effective August 3, 2023. Please note that our Home Equity Loan solutions (Fixed Rate and Line of Credit) are only available for properties in the following states: Minnesota, Wisconsin and South Dakota.

** Please consult with a tax accountant for applicability under current tax laws.