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Home Equity Line of Credit Photo Home Equity Line of Credit

Dream it. Do it. Live it.

Make that dream happen. A Central Bank home equity line of credit (HELOC) allows you to use your primary residence as collateral. It’s a variable rate line of credit that includes a flexible draw and repayment period of 10 years. During the draw period, you can borrow as much or as little as you need, whenever you need it.

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The HELOC lets you accomplish great things right now. Benefits of a Central Bank HELOC include:

  • No annual fees.
  • Lower monthly payments. In most instances, a HELOC rate is more competitive than credit cards and other loans, making them an ideal vehicle for consolidating debt and decreasing interest paid.
  • Rate discounts. Central Bank customers who sign up for automatic payments from their checking account to their HELOC qualify for a percentage discount.
  • With online banking convenience, HELOC holders can schedule and make payments, see line of credit activity, transfer funds and generally simplify everyday banking.

Standard credit qualifications apply.

Do I need to disclose what I want to do with my line of credit?

Not usually. In some cases, your lender may need to ask what it will be used for in order to provide information to federal agencies.

How do I know if I’m eligible for enough equity for the purposes/purchases I want to make?

You’ll need to do some calculations to determine that equity. To do this, you’ll need to look at what you owe on your mortgage. Subtract that, as well as any other debts secured by your home, from the value of your home. Check out one of our loan calculators to get an idea of where you land relative to your needs and your equity.

What documentation will I need to apply?

You will need employment paperwork, such as W2s, tax returns, investment and retirement income documentation, and any other income that should be considered as a method for repayment of the line of credit.

Charlie Larson's Image

Charlie Larson

Vice President, Mortgage Loan Officer | NMLS#493731

Location: Storm Lake Main Office

Work Phone: (712) 732-2190

Chris Jenness's Image

Chris Jenness

Vice President, Mortgage Loan Officer | NMLS#493730

Location: Cherokee Main Office

Work Phone: (712) 225-2546

Christopher Krueger's Image

Christopher Krueger

Vice President, Managing Mortgage Loan Officer | NMLS#728693

Location: Sioux City Main Office

Work Phone: (712) 293-2265

Cindy Mart's Image

Cindy Mart

Vice President, Mortgage Loan Officer | NMLS#493726

Location: Spirit Lake Main Office

Work Phone: (712) 336-4100

Dianna Koontz's Image

Dianna Koontz

Vice President, Branch Manager II, Mortgage Loan Officer | NMLS#493728

Location: Sioux City Morningside Branch

Work Phone: (712) 276-3135

Ethan Moxnes's Image

Ethan Moxnes

Personal Banker II

Location: Sioux Falls Western Branch

Work Phone: (605) 782-0759

Karen Benecke-Renken's Image

Karen Benecke-Renken

Assistant Vice President, Mortgage Loan Officer | NMLS#400191

Location: Urbandale 100th St. Branch

Work Phone: (515) 254-9000

Matthew Klein's Image

Matthew Klein

Vice President, Managing Mortgage Loan Officer | NMLS#446592

Location: Waukee Main Office

Work Phone: (515) 987-2299

Sheila Zollman's Image

Sheila Zollman

Mortgage Loan Officer | NMLS#1284740

Location: Okoboji Mortgage Lending Office

Work Phone: (712) 337-9001

Todd Utter's Image

Todd Utter

Assistant Vice President, Mortgage Loan Officer | NMLS#501454

Location: West Des Moines Mills Civic Branch

Work Phone: (515) 222-1144

William Boord's Image

William Boord

Assistant Vice President, Branch Manager II | NMLS#523274

Location: Urbandale 100th St. Branch

Work Phone: (515) 254-9000

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You are leaving the Central Bank website. We are not endorsing or guaranteeing the products, information or recommendations provided by the organizations linked to our website. We are not liable for any failure of products or services advertised on those sites. We are not responsible for the validity, collection, use or security of information by organizations that may be linked to our website. We encourage you to read the privacy policies of websites reached through the use of links from the Central Bank website.

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