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If the time has come to add a new roof, remodel your kitchen, or even add a backyard pool, why not use the equity in your home to finance those projects?

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Limited-Time HELOC Special


4-Month Introductory Low Rate

5.99% APR*


Variable Rate

8.50% - 10.50% APR*

Access to funds up to 10 years.*


*Estimated Maximum payment example: At the maximum loan amount of $100,000 at the introductory four-month APR of 5.99% and then moving to the highest APR of 10.50% with interest-only payments during the term of the loan, a $100,000 ten-year line of credit drawn from the beginning of the loan through the entirety of the loan, results in a payment of approximately $492.33 per month for the first four months, increasing to approximately $863 per month after month four, followed by an estimated $100,863 balloon payment after ten years.


What is equity?

Equity is the difference between how much you owe on your home and the amount your home is worth. The more you pay on your mortgage, the more equity you have in your home.  For example, if you owe $125,000 on your mortgage loan and your home is worth $200,000, you have $75,000 of equity in your home. Your equity can also increase if your home appraises for more than it previously did.


What does a Home Equity Line of Credit do?

A Home Equity Line of Credit, often referred to as a HELOC, uses the equity in your home as collateral to guarantee the loan. You will receive your funds as a revolving credit line – like a credit card.


Here’s what you can expect with a HELOC from Midland States Bank:

  • Access to a line of credit for ongoing use. You won’t have to apply for another loan each time you need money—just access your HELOC. As you repay your outstanding balance, you will receive back that amount of available credit.
  • Qualify for $7,500 - $100,000, depending on the amount of equity you have
  • Access to funds up to 10 years

With a Midland States Bank Home Equity Line of Credit, you’ll get:

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Variable Rates


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Terms up to 10 years

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Lines of Credit from $7,500


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Low closing costs

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Personalized convenience checks


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Automatic online payment & transfer options

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Benefits of a Home Equity Line of Credit 

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Make your home more affordable 

HELOC rates are competitively lower than unsecured, personal loans. The benefit? You can update your home, create a fabulous new space, or take care of pesky repairs without overspending.

Apply for a Rate Quote >>


Your Home, Your Money 

As one of the best HELOC lenders out there, we strive to offer the flexibility you need to get things done or just to engage fully with your life. Need that dream vacation? Want to get some money in place for investing? Let your home do the heavy lifting for you. You can use the money from your HELOC for anything life may throw at you, even financing a wedding or taking care of medical bills.

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How can you use the money from your HELOC?

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Remodel or Upgrade Your Home


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Make a Large Purchase


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Finance Education

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Emergency Fund

Frequently Asked Questions

Your situation is unique. Most often, a HELOC requires a good understanding of your home’s value in the current market. When you get started with us, we’ll provide you with specific insight into appraisal requirements. Start with your application online or schedule an appointment with your local branch for more information.

You could. Even the most flexible of HELOC lenders have some requirements. Having proof of income if your HELOC amount is over $50,000 and credit scores are a few factors. Your home’s value is another big one. You’ll need to have enough equity. Let’s talk about opportunities today.

With a home equity loan, you’ll receive a single lump sum advance when you take out the loan. You’ll make payments each month until you pay down your debt. With a HELOC, you’ll have borrowing power that’s more like a credit card. Do you want to borrow over time or more than once? If you will use the funds more than once, go with the HELOC.

Yes, there are closing costs associated with HELOCs. For specifics, give our team a call. It may be more affordable than you think. The best home equity line of credit is still quite affordable.

This ranges. Most often, we’re able to lend to those with a good history of making payments with fair or better credit.

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How To Get Started

Apply for a Midland States Bank Home Equity Line of Credit and receive a credit decision quickly! Items needed to apply for a HELOC include:

  • Available equity in your home
  • Current verification of income may be required.

Apply for a Rate Quote

 decorative imageEqual Housing Lender. Member FDIC. *5.99% APR Introductory Annual Percentage Rate (APR) is available on Home Equity Lines of Credit with an 85% or less loan-to-value (LTV). The introductory interest rate will be fixed at 5.99% APR during the four-month introductory period. Offer is available for new applications submitted starting May 1, 2024. Offer may end without notice. After the four-month introductory period: the APR is variable and is based upon an index plus a margin. The APR will vary with Prime Rate (the index) as published in the Wall Street Journal. As of May 1, 2024, the variable rate for home equity lines of credit is 8.50% APR (For FICO Scores of 740 or higher and LTV less than 71%), 8.75% APR (For FICO Scores of 740 or higher and LTV between 71% and 80.9%), 9.25% APR (For FICO Scores of 740 or higher and LTV between 81% and 85%), 8.75% APR (For FICO Scores of 700-739 and LTV less than 71%), 9.00% APR (For FICO Scores of 700-739 and LTV between 71% and 80.9%), 9.50% APR (For FICO Scores of 700-739 and LTV between 81% and 85%), 9.00% APR (For FICO Scores of 660 – 699 and LTV less than 71%), 9.50% APR (For FICO Scores of 660 – 699 and LTV between 71% and 80.9%), 10.50% APR (For FICO Scores of 660 – 699 and LTV between 81% and 85%). A minimum of $7,500 and a maximum of $100,000 credit lines are available with this offer. The rate will not vary below 4.00% APR (the floor), with the exception of the introductory APR, or above 17% (the ceiling). Interest-only payments will cause your monthly payment to increase, possibly substantially, once your credit line transitions to the repayment period. In addition, a balloon payment will result, which means a one-time large payment will be required to pay off your line of credit balance. The processing fee is $275. Additional fees may apply. This offer is subject to normal credit qualifications and program guidelines. Rates are subject to change without notice. Property insurance is required. Consult your tax advisor regarding the deductibility of interest. Other restrictions may apply. Credit score will be affected if Midland States Bank needs to run credit for loan approval.

Applications accepted with a primary address located in Illinois and Missouri.

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