Find out what you can do

Determine which equity-based loan is best for you

Whether you need a loan for that home improvement project or just want a line of credit in case of an emergency, Bell State Bank & Trust can help you find a loan or line of credit that suits you.

Why Bell

Sometimes home improvements are needed; other times, unexpected things come up. It can be stressful. Don't worry, we can help you find a solution.

Use the Equity in My Home

Use the equity you have in your home to secure a line of credit or a home equity loan.

Compared to other personal loans, a home equity loan or line at Bell has many benefits:

  • It's secured financing, so it may have a lower interest rate than an unsecured loan
  • There's no prepayment penalty
  • It may have tax benefits (talk to your tax advisor).

Home Equity Loan vs. Line: What’s the Difference?

A home equity loan and a home equity line are not the same; however, both are based on the equity you’ve built up in your home – the current market value minus the balance you still owe on your mortgage.

The main difference between the two is that a home equity loan is taken as a lump-sum, one-time loan with a fixed interest rate, while a home equity line is a revolving “line of credit” that remains available to you for a specified time period, with an adjustable interest rate that is applied to the outstanding balance. 

Choose a home equity line if you:

  • Want a set credit limit with a variable interest rate
  • Need access to funds both now and in the future – so you can use the funds all at once, or have the flexibility to use your credit any time
  • Want convenient access to funds through your Bell State Bank & Trust deposit account

A home equity loan might be the right way to go if you:

  • Want the money up front
  • Want to lock in a fixed rate
  • Prefer to pay off your loan in fixed payments, with the principal and interest payments staying the same for a fixed period of time
  • Need a specific amount for upcoming expenses

Call a personal banker for the loan you need.

Get a Home Equity Line

Access the funds you need through a home equity line of credit.

Why apply for a home equity line?

Home equity lines are used primarily as financial safety nets, or “rainy-day funds.” People just like you also use home equity lines for medical bills, wedding expenses, vacations and consolidating debt.

How does it work? A home equity line is a revolving “line of credit” that remains available to you for a specified time period, with an adjustable interest rate that is applied to the outstanding balance.A line provides a set credit limit with a variable interest rate and gives you access to funds both now and into the future. Get convenient access to funds through your Bell State Bank & Trust deposit account.

To apply, just call any Bell State Bank & Trust location. We generally will need the following:

  • Personal financial information about you
  • Verification of your income from employment and other sources
  • Outstanding balance of your current mortgage
  • Estimated value of your home

Check with us on the loan you need, and see what we can do for you! Contact a personal banker.

Get a Home Equity Loan

Access the funds you have built up in your home with a home equity loan.

Why apply for a home equity loan?

If you’ve been thinking about adding on to your house, remodeling or redecorating, using the equity in your home could make a lot of sense. Home equity loans can also be used for education payments, medical bills, wedding expenses, vacations and consolidating debt.

To apply, just call any Bell State Bank & Trust location. We generally will need the following:

  • Personal financial information about you
  • Verification of your income from employment and other sources
  • Outstanding balance of your current mortgage
  • Estimated value of your home

Check with us on the loan you need, and see what we can do for you! Contact a personal banker.

Refer your family and friends

When they open a new personal checking account with us, we’ll give each of you $50.

Live your dream!

Finance your new boat (or home improvement project) with Bell! Home Equity Loan rates as low as 3.25% APR *with no fees.

House hunting?

Save time by calling us first for fast, free pre-approval or apply online at bellbanks.com Then talk to your real estate agent or builder.