A Home Equity Loan is more often used for one-time expenses such as buying a vehicle or consolidating other debts. You will have a fixed rate of interest* and a fixed payment amount for easy budgeting.

The Idaho First Bank Home Equity Loan (HELoan)

Here is how the HELoan works:

An Idaho First Bank Home Equity Loan is a fixed rate loan that uses the equity you have accumulated in your primary or secondary home as collateral for the loan. The amount you borrow will be paid back over a set term with a fixed rate of interest and monthly installments of principal and interest. 

Once you take out your loan, you cannot borrow further from the loan.

Contact one our our Relationship Managers for rate information or visit a branch to apply.

*Loans are subject to credit approval and program guidelines. A fixed rate and payment home equity loan is secured by the borrower’s primary residence. Interest rate and maximum combined loan to value (CLTV) up to 80% may vary based on customer’s credit score, loan amount, and repayment term. Minimum loan amount is $25,000. Maximum loan amount is 1st lien: $1,000,000 2nd lien: $500,000. Home Equity Loans in first lien position on a primary residence will be required to establish an escrow account for a minimum of 5 years to collect property taxes, property insurance and flood insurance (if required by federal regulation