Home Equity Loans & Lines

Get the financing you need at a low rate everyday

Woman in her robe standing in her kitchen looking at a laptop


Whether it's home improvement, debt consolidation, or an unexpected expense - now is the perfect time to unlock your home's equity at a great low rate!

Apply Today       


Unlock your equity. Finance your future.


Home Equity Loans or Lines of Credit with rates as low as 3.5%APR*

Learn more about the differences between a home equity loan and a home equity line of credit (HELOC) below.

Or if you are ready to apply:

Get Started

*Annual Percentage Rate. APR is accurate as of 7/15/2021. Home Equity Line of Credit (HELOC) introductory APR 3.5% for 5 years and a variable rate after based on your loan to value (LTV) and credit worthiness. HELOC variable floor rate at 4.25% and ceiling at 18%.  Home Equity Loan rates start at 3.5% for 5 years with 80% LTV and determination of credit score. Additional rates, terms or higher LTVs are available upon inquiry. The minimum loan amount is $10,000. Existing home equity line of credit or home equity loan members must increase their loan by $10,000 to qualify for promotion. Payment Example: $10,000 HELOC during the first 5 years at 3.50% is $29.17 payment per month, remaining payments determined by variable rate and term of loan. $10,000 Home Equity Loan for 5 years at 3.50% is $181.92 payment per month. Loans subject to credit approval. $100 processing fee is waived.  Closing costs and appraisal fees may apply. Additional limitations may apply. Offer expires on 9/30/2021.  Must qualify for Membership. Federally insured by the NCUA. Equal Housing Opportunity.

Finance with a HELOC

Even if you don't currently have a need for cash, an open-ended Home Equity Line of Credit is a wise move. When you get a Home Equity Line of Credit, you access the ability to draw money, whenever you want, for a period of time. You only pay interest on the amount you borrow. You may borrow money, then pay off the money you borrowed, and borrow again against the line of credit.

*The dwelling must be owner occupied, secured by a primary single-family residence and must be insured (including flood insurance, when required). The minimum line amount is $10,000 and the maximum line amount is $200,000. Existing HELOC members must increase their limit by $5,000 to qualify. You may be required to pay certain fees which generally total up to $410. If an appraisal is required an additional cost of at least $425 is at the borrower’s expense. There is no annual fee or early termination fee. Offer subject to credit approval. Consumer accounts only. This offer is available for Nebraska and Iowa properties within Cobalt Credit Union’s lending area. Interest may be tax deductible, consult your tax advisor regarding your situation. Additional limitations may apply. Contact a Cobalt Credit Union representative for complete offer details. Federally Insured by NCUA. Equal Housing Lender. 

Finance with a Home Equity Loan

If you have need of a specific amount of money, a Home Equity Loan might be for you. A home equity loan allows you to tap into your home's built-up equity, which is the difference between the amount that your home could be sold for and the amount that you still owe.

  • These are available on any single unit home or rental property
  • Homeowners often use a home equity loan for home improvements, to pay for a new car, or to pay off credit cards. The interest paid is usually tax deductible.
  • This type of loan is sometimes referred to as a second mortgage or borrowing against your home.

Home Equity Loan

  • Fixed rate
  • No introductory rate
  • Fixed monthly payments
  • Good for someone looking to consolidate debt, make a home improvement of which they know the cost, etc.
  • Minimum loan amount is $10,000
  • Maximum loan amount is $200,000 (owner occupied)
  • Property must be within 100 mile radius of any Cobalt branch

HELOC - Home Equity Line of Credit

  • Variable rate
  • Introductory rate for 12 months
  • Interest only payments for the first 10 years
  • Good for those that want available credit all the time
  • Interest rate is based on the Wall Street Prime rat plus the margin rate (if applicable)
  • Minimum loan amount is $10,000
  • Maximum loan amount is $200,000
  • Property must be within 100 mile radius of any Cobalt branch