Home Equity Loans

A Home Equity Loan1 from First Midwest can be a smart borrowing option for many homeowners. Simply stated, home equity is the difference between how much your home is worth and how much you owe on your mortgage. By using the equity in your home, you have the power to finance a major purchase or cover just about any significant financial need:

  • Make home improvements
  • Pay for your child's education
  • Consolidate your debt
  • Purchase a new car, truck, or boat
  • Take that overdue vacation
What would my monthly payment be?

We are now accepting up to 90% loan-to-value4, making it easier than ever to qualify for a Home Equity Installment Loan.

First Midwest is even offering you a chance to win $20,000 toward your next home improvement with our $20K Giveaway* between March 8 and and April 25, 2014. Enter to win today.*

Get a .25% Discount on Your First Midwest Home Equity Loan

First Midwest Checking clients get a 0.25% rate discount2 on a home equity loan as a relationship reward.

With flexible terms and fully amortizing or balloon structures, your First Midwest Home Equity Loan will work hard for you. Combine your Home Equity Loan with a First Midwest Checking account, and you could qualify for a rate discount! Finally, you'll get 100 Tuition Rewards points plus 5% of the original amount of your Home Equity Loan in additional Tuition Rewards points.

A First Midwest Home Equity Loan typically has a lower interest rate than most traditional loans or credit cards, and the interest may be tax-deductible3. We offer a streamlined loan application process, and we'll help you get the best possible terms. 

Get Connected

Call 800-241-1749 to get connected with a First Midwest home equity expert, or simply complete your application online right now. Whatever you decide, we'll work with you every step of the way – from application to closing and beyond.
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