Lost or Stolen Card

Call-414-421-8200 Monday-Friday during business hours or 1-800-472-3272 after hours / weekends

24 Hour Account Access

bilingual option available

Need more Information?

FAQ Contact Form Send Secure Email More...

Home Equity Line of Credit (HELOC)

Now is a great time to take advantage of a great special on a Home Equity Line of Credit (HELOC)! PyraMax Bank also continues to offer interest-only payments, a benefit that you may not find elsewhere.

1.00 % APR Six Month Introductory Rate!
3.99% For remaining 54 Months!
4.50% APR Variable Rate Repayment Period


Please visit your local PyraMax Bank branch to apply.

What Are The Advantages of a HELOC?

You may have seen the term "HELOC" floating around our website, but you might be confused as to what that really means. Allow us to explain; HELOC stands for Home Equity Line of Credit. Essentially, it is used very similarly to a credit card, with a spending limit in which case a home is used as collateral. While this is very similar to a loan, there are many advantages of taking a line of credit over other a loan. Consider the following when exploring your financial options:

1. Flexibility

Unlike a loan, lines of credit provide the flexibility of drawing money as you need it. Rather than being issued an entire amount of borrowed money at once, you have the ability to borrow against your home up to the amount of the credit line. Much like a credit card, you can also borrow your money back if you need to. For example, if you have a $50,000 line of credit, and you've already paid back $30,000, you can still borrow over the remaining $20,000. Granted that this will tap into the money that you've already paid back, but if you need additional money, you will not have to take out an additional loan or line of credit.

2. Payment Options*

Payment is also flexible to an extent. While you are required to make a monthly payment, you have the option to make a payment of as much or as little as you want, as long as it exceeds the minimum required payment. If you would like to pay off your line of credit before the end of your draw period, you are allowed to do so.

3. Quicker Process

Because there is less required to apply for a HELOC, you will generally move through the application process faster than if you were to apply for a mortgage. While mortgages can take a matter of months, a HELOC can be issued to you within a few weeks.

If you prefer flexibility, payments that fit your spending habits, a smooth process, and most of all a great rate, then a HELOC is for you. Find out more information by contacting your local branch, or view more rates and information by clicking here. If you would like to apply online for a HELOC, you can do that below.



*Discounted APR (Annual Percentage Rate) of 1.00% for 6 months from the date of closing, then 3.99% APR for 54 months during the 5-year draw period available for loans secured by primary residence, up to 80% loan-to-value(LTV) and a credit score of 650 or higher. Other terms are available.  Payments during draw period are interest only. If only interest is paid, all amounts drawn are owed at the end of the draw period and monthly payments will increase when the 20-year repayment period begins.   Payments during the repayment period are amortized principal and interest.  Payments on $100,000 for 20 years at 4.50% APR would be $632.65 or $6.33 per thousand borrowed.  The 4.50% repayment period APR is based on a LTV of 80% and the current index and margin with a credit score of 725 or higher. Actual APR during repayment period is variable based on Prime Rate (as published in the Wall Street Journal), currently 4.5%, plus a margin (based on credit history).  Floor rate of 4.50%.  Ceiling rate of 18.00%.  Minimum draw amount of $10,000 required at closing.  Maximum loan amount of $150,000.  Full hazard insurance required.  Fees waived for loans of $100,000 or less.  Closing costs for loans over $100,000 range from $325 to $800.  Loan is subject to a $50 annual maintenance fee after the first year.  Early termination fee of $300 for closing the line within 24 months of opening.  Excludes PyraMax Bank refinances unless the loan is maturing.  Other restrictions may apply. Consult your tax adviser. Rates effective 2/12/2018. Offer may expire at any time without notice.


Hear From Our Clients

Please Note: By clicking on this link, you will be leaving PyraMax Bank is not responsible for any content within this website. Third party websites may have privacy and security policies different from PyraMax Bank. Please review the privacy and security policies of websites reached through links from the PyraMax Bank website.

You will now be directed to:
Link here

Click the link above to continue or