Do well and be good when you get the money you need to
do the things you want.

Consolidate debt

Consolidate Debt

Remodel your house

Remodel Your House

Pay for medical expense

Pay for a Major Expense

Four Simple Steps to Get the Home Equity Line of Credit You Need

Compare HELOC rates in Ohio

Compare

Quickly compare home equity loan rates and terms to find the best fit for you.

Calculate your HELOC budget

Calculate

Estimate how much you qualify for based on the equity in your home.

Prepare for your HELOC in Ohio

Prepare

We'll make things easy for you to get a HELOC to pay for the things you need.

Apply for a HELOC in Ohio

Apply

Do well and be good when you get the money you need to do the things you want.

Step 1: Compare the Best HELOC Rates in Ohio
Rates effective as of December 3, 2024

Rates subject to change without notice.

*APR means Annual Percentage Rate. 
Rates subject to change without notice. Your rate will be determined by your specific situation.

Step 3: We'll help you get prepared by making the process to get your HELOC quick and easy

Prepare for your HELOC in Ohio

Prepare Your Finances & Check Your Credit Score

In preparation for your pre-approval, review your debt-to-income (DTI) ratio. Your DTI is the sum of all of your debt payments divided by your gross monthly income. An ideal DTI is less than 36%. 

Check your credit score. Better credit reports and higher scores make it easier and cheaper to borrow. A minimum credit score of 640 is required for a HELOC.

 

Learn More About Credit Scores

HELOC in Ohio

Know Your Home's Estimated Value

We will use independent appraisers to assess the value of your house. This will helps us determine how much you are eligible to borrow from the equity in your home.  

Get Answers To Frequently Asked Questions About the

Best Home Equity Line of Credit in Ohio

What are the terms of a HELOC?

A Home Equity Line of Credit is a 10 year adjustable rate loan with a draw period and a repayment period.

The draw period is 10 years where you will have ongoing access to available funds. During the draw period, you can borrow against your home's equity. Your minimum payment is the interest on what you have drawn against your line of credit. Principle paid becomes available credit again.

After the draw period, you can pay off your loan or refinance it into a new HELOC.

How much can I borrow?

You can typically borrow up to 90% of the value of your home, minus what you currently owe.

Are there closing costs or annual fees?

There are typically low or no closing costs associated with a HELOC at Osgood Bank. Your lender will discuss these with you during your application process.

There is a $50.00 annual fee. We waive this for your first year. 

What happens when my HELOC balance is zero?

Your line of credit will remain open and available for 10 years or unless you decide to close it.

FDIC-EHL

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