Homeowners benefit from our Home Equity Loans and Lines of Credit

With fixed rates that fit your budget, Black Hills Federal Credit Union’s Home Equity Loans can be used to finance any of your needs. No matter your needs as a South Dakota resident, we help you pay for home renovations, higher education and other major purchases, or consolidate high-interest credit card debt at a lower interest rate to save money. 

Make the most of your home's value

  • Available as a lump-sum loan or revolving home equity line of credit (HELOC)
  • Borrow more money than what's typically available with other loan options
  • Lower-cost alternative to credit cards and personal loans
  • Interest payments may be tax-deductible(please consult your advisor)


Home Refinancing Loans

Home Refinancing Loans

Save money by refinancing your current home mortgage.

Learn More


What can you use a home equity line of credit loan for?

Home improvements

For one-time home remodel projects, a home equity loan can be a great option. Not only are you improving upon your home, but you’re also reinvesting the money back into your property.


Debt consolidation

If debt management has become challenging, a home equity loan could help you consolidate your debt into a single, more manageable option at a competitive rate.



When student loans aren’t enough, a home equity loan can be another great solution to help you fund one’s higher education.


Anything else you might need




How does a home equity loan work?

With a HELOC loan, you’re borrowing against the available equity in your home and the house is used as collateral for the line of credit. As you repay your outstanding balance, the amount of available credit is replenished – much like a credit card. This means you can borrow against it again if you need to, and you can borrow as little or as much as you need throughout your draw period up to the credit limit you establish at closing. At the end of the draw period, the repayment period begins.

Home Equity Line of Credit Rates

Term Platinum APR
760 and over
Premier Plus APR
Premier APR
Standard APR
Value APR
Rebuilder APR
599 and under
APR 8.00% 8.25% 8.50% 9.00% 11.00% 13.00%
Rate 8.00% 8.25% 8.50% 9.00% 11.00% 13.00%

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