medium sized home

Open the door to greater financial flexibility

With a home equity line of credit (HELOC), you can tap into the value of your home to get extra cash any time you need it.

Is a Vibrant HELOC right for you?

couple looking over mortgage papers at home

Using a HELOC to increase your spending power is a lot like using a credit card—except, in most cases, a HELOC offers a lower interest rate and higher credit limit.

We offer an easy application process and fast approvals for homeowners whose properties are:

  • Located in Illinois or Iowa

  • Your primary residence (not an investment property or vacation home)

  • Not part of a homeowners’ association (condo or PUD)

Variable rates as low as 8.500% APR*

How to open a HELOC


Estimate your current equity

How much you can borrow depends on the current market value of your home and how much you owe on your mortgage. Easy enough, right? Part of our process will be to order a valuation that will determine the market value of your home. 




Understand monthly payments

As with a credit card, you'll need to make a minimum monthly payment on what you owe. At Vibrant, that's always 0.75% of your current HELOC balance.


Submit an application

Gather a few items we will need (pay stub, W-2) and set aside about 15 minutes to complete your application. If you don't have those items right now, no worries—you can submit the application using your stated income, and we can figure out the rest later! Easy peasy!


Get a decision fast

Once you receive approval, it should take about a week to finalize your loan and receive your funds. We'll do our best to ensure you can tap into your equity as fast as possible!

Frequently asked questions

How can I find out how much home equity I have?

Real estate search sites like Zillow and ComeHome can give you a rough idea of the current market value of your home. As part of the approval process, our experienced home loan team will conduct a more thorough assessment of your property's fair market value.

How much can I borrow?

That depends on your current mortgage balance. The total sum of your HELOC and your mortgage balance cannot exceed 100% of the fair market value of your home.

It's also important to make sure you don't borrow more than you can afford to repay. Your monthly minimum payment will equal 0.75% of your HELOC balance.

Another thing to remember—because this is a variable interest rate loan, your financing costs will fluctuate if you carry a balance. Talk with your banker about your target monthly payments.

Is there an application fee or closing costs?

There is an origination fee and some closing costs associated with a HELOC. Expect to pay about $450 in most cases, depending on the size of your line of credit and the value of your property.

Do I have to use my HELOC on home improvements?

No, you can use the funds for whatever you choose.

What documentation will I need to provide?

In addition to information about your employment history, W-2s and pay stubs, bank statements, and information about other outstanding debts like car loans or credit cards, you’ll need to prove that you own the property you’re borrowing against and that it is adequately insured.

Will my property need to be appraised before my HELOC is approved?

We can't rule it out entirely, but it's unlikely! For the majority of HELOCs, we use what’s called an Automated Valuation Model (AVM) that estimates your property value based on data and analytics. This saves you money, time, and the hassle of an in-personal appraisal.

Home Equity Line of Credit (HELOC) Rates

Term/Financing APR as low as Monthly payment per $10,000 borrowed*
15 yr Variable
85% Financing 8.500% $75.00
All loans are subject to approval. *Monthly payment is per $10,000 borrowed payment based on 0.75% of the loan balance. All rates and terms subject to change without notice, and all loans are issued subject to credit approval. Normal lending guidelines apply. Rates quoted above are based on 730 credit score, LTV (loan-to-value ratio) of 85%, and for an owner-occupied property. APR may vary with the applicant's credit score and LTV. Your total HELOC can go up to 100% CLTV (combined loan-to-value ratio), but terms may vary. Property, home, and flood insurance may be required.