Get access to the cash you need, when you need it.

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Get access to the cash you need, when you need it.

Apply Now

Home Equity Lines of Credit

Use the equity in your home to tackle any project you have in mind. Plus, you'll pay interest only on the amount you borrow.

The financing you need could be under one roof—your own!

Whether you're taking on home improvements, want to consolidate debt, finance a major purchase or pay tuition, our Home Equity Lines of Credit provide the financing you need using the equity you've built in your home as a source of funds.  It’s easy to set up a line and have it available for whatever life throws your way. Borrow up to 85% of your primary or secondary residences' appraised value, less outstanding mortgages.

  • Draw on the line for only the amount you need, when you need it.
  • Transfer funds directly to your Ardent Checking account.

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Not sure if you have enough equity in your home for a big home renovation project?
Check out our Renovation Loan instead. You may be able to use your home’s after-renovation value to boost your borrowing power.


FAQs

In most cases, the estimated availability of the funds from the time a successful application is submitted is 3-4 weeks.

For the first 12 months on a new line of credit – yes. After that, the interest rate for a variable rate HELOC will adjust up or down to match the Wall Street Journal Prime Rate. You will receive notification of any changes to the rate in the mail. 

The standard origination fee for a HELOC is $299. The fee can be deducted from the proceeds of the loan at closing or paid out of pocket. For loan amounts over $400,000, title insurance and full appraisal are required. For states that charge mortgage taxes or attorney fees (ex. Florida, New York, Delaware, Georgia, etc.), those costs would be added to the origination fee.

The monthly principal & interest payment is calculated as the greater of either $108 per month or up to 0.91% of the outstanding balance. For example, if you draw $100,000 from the HELOC, the monthly principal & interest payment would be $910.

No. Payments are calculated and applied towards principal and interest based on the account balance.

The next monthly billing cycle after drawing upon your line of credit.

No.

The best way to access HELOC funds is to transfer them into your Ardent account via eBanking. You can also contact us to transfer over the phone, request a cashier’s check or initiate a wire transfer to an outside institution.

The draw period is 10 years from when the line is opened (assuming you haven’t refinanced, paid in full or sold the property). At the end of 10 years, the ability to draw more funds is removed and the remaining balance must be paid over a period not to exceed 20 years.

The minimum transfer amount in eBanking is $500. For lesser amounts, please speak with a representative to transfer over the phone.

There is no prepayment penalty. If you pay off or refinance within 36 months, we may recoup certain closing costs from this transaction if we had provided a lender’s credit. These costs range between $350-$650 depending on property location. 

No, at present our HELOC offerings are available for primary residences and vacation homes only.

Tools & Resources

First Rule of Renovation: Hire the Right Contractor

A Simpler, Less Expensive Alternative to Mortgage Refinancing

RESOURCES

Insurance

BALANCE

Free Credit Report

Home Equity Loans and Lines

Rates effective starting: December 21, 2024

Loan Type1 Loan to Value Rates (as low as) Annual Percentage Rate2 Maximum Term Monthly Cost Per $10,000
First Lien Home Equity up to 80% 6.000% 6.1660% 5 years $193.33
First Lien Home Equity up to 80% 6.375% 6.4640% 10 years $112.91
First Lien Home Equity up to 80% 6.500% 6.5630% 15 years $87.11
Home Equity Fixed Rate up to 80% 6.750% 6.9170% 5 years $196.83
Home Equity Fixed Rate up to 80% 7.125% 7.2150% 10 years $116.75
Home Equity Fixed Rate up to 80% 7.250% 7.3150% 15 years $91.29
Fixed-Rate Home Equity Line-of-Credit up to 85% 7.875% 20 years $100.00
Home Equity Line-of-Credit up to 85% 6.99%

(Intro rate. After 12 months rate adjusts to the WSJ Prime3)

 20 years $108.00
First Lien Home Equity 80.01% to 90% 6.125% 6.2910% 5 years $193.91
First Lien Home Equity 80.01% to 90% 6.500% 6.5890% 10 years $113.55
First Lien Home Equity 80.01% to 90% 6.625% 6.890% 15 years $87.80
Home Equity Fixed Rate 80.01% to 90% 7.000% 7.1680% 5 years $198.01
Home Equity Fixed Rate 80.01% to 90% 7.250% 7.3410% 10 years $117.40
Home Equity Fixed Rate 80.01% to 90% 7.625% 7.6900% 15 years $93.41

1Home equity loans are not available in Texas or Puerto Rico. Monthly payment of $1449.96 based on a single family, owner occupied, 6.1660% APR, 80% Loan-to-Value (LTV), five-year term First Lien home equity loan for $75,000 for borrowers with excellent credit.. Monthly payment does not include taxes and insurance. This is only an example. Your rate may vary based on a number of factors, such as Loan-to-Value ratio (LTV), credit score, term and property type. Title insurance is required on loan amounts greater than $400,000. Other fees may apply based on property type and state where property is located. Certain states, such as New York and Florida, incur a tangible tax that will be paid by the borrower. Available on 1-4 family primary or secondary residences. 2-unit and 3–4-unit properties have a maximum LTV of 80% and 75%, respectively.  Property and/or flood insurance is required. All loans and lines of credit are subject to approval and collateral evaluation. The LTV ratio is the sum of the balance outstanding on your first mortgage, if any, and the amount of your new home equity loan or credit line divided by the fair market value of your home. Property must have a clean title and adequate appraisal to qualify. Per membership eligibility, you must maintain $5 in a savings account to utilize the credit union’s services. If you close your home equity line of credit within 36 months of opening, you will be required to reimburse the Credit Union for the bona fide third party fees paid on your behalf which could range from $250.00 to $2,500.00. Additional restrictions, limitations and exclusions may apply, offer subject to change, please contact an Ardent representative for further details and current rates. Equal Opportunity Lender. NMLS 498568

2APR = Annual Percentage Rate. APR includes a $299 origination fee. APR shown is for first and second lien position home equity loans, single family, owner occupied, and for a 80% or 90% Loan-to-Value (LTV) and various terms for borrowers with excellent credit. Ardent has a tiered loan rate policy which applies different loan rates to borrowers based upon the borrower's credit worthiness, Loan-to-Value (LTV), term and lien position. Rates are subject to change at any time. Other fees may apply based on property type and state where property is located. Certain states, such as New York and Florida, incur a tangible tax that will be paid by the borrower. APR effective as of date shown and is subject to change without notice. Rate reflects a 0.25% discount for loan payment via automatic funds transfer from an Ardent checking account. Otherwise, rate 0.25% higher. The rate(s) shown are the lowest available for each of terms listed. Loan subject to credit approval. Additional terms and rates available.

3Introductory rate of 6.99% APR is for the first 12 months after the loan open date. At the beginning of the 13th month, your regular rate will go into effect which is based on the value of an index (the Prime Rate published in the Wall Street Journal, currently at 7.50%). The APR will never be higher than 18.00% in a variable-rate plan. If you close your home equity line of credit within 36 months of opening, you will be required to reimburse the Credit Union for the bona fide third party fees paid on your behalf which could range from $250.00 to $2,500.00. Additional restrictions, limitations and exclusions may apply, offer subject to change, please contact an Ardent representative for further details and current rates.