Leverage the equity in your home for home improvements, consolidating debt, investing, vacations, paying down student loans and more.
Home Equity Lines of Credit & Loans
Home Equity Line of Credit (HELOC)
Your HELOC gives you the flexible financing options you need.
- No Annual Fee
- Interest Rate: Variable
- Term: 15 years, interest-only payments
- Minimum Loan Amount: $25,000
- Minimum Draw: $100
- Draw Period: 180 months
- Other Extras:
- Ability to draw multiple times on funds up to your limit
- Access funds by transferring to your Meridian account or writing a check
- Flexible access to funds
- Continuously borrow up to an approved limit
Home Equity Loans
Borrow against the equity of your home with low fixed rates and flexible terms on specific amounts.
- No Annual Fee
- Interest Rate: Fixed
- Term: Up to 20 years
- Minimum Loan Amount: $25,000
- Other Extras:
- Lump sum upfront
- Equal monthly payments
- Interest may be tax deductible 1
1 Consult your tax advisor for more details. See an associate for disclosures and other pertinent information regarding our Home Equity products.
Meridian Makes it Easy
- With your Meridian personal checking account, payments can be automatically deducted.
- Use Meridian digital banking to check loan balances and make loan payments with funds from your Meridian deposit account.
How to link an external account in Digital Banking:
- From your home dashboard, select “Transfers.”
- Select “+Add external account” and confirm your credentials.
- Enter external account details. Note: When linking an external account, the name on the external account must match the name on your Meridian account.
- Once you have successfully entered the information, you will see a message that two small deposits have been sent to your external account for verification.
- Finally, enter the amounts of the small deposits made to the external account in your Meridian Digital Banking account. From your home dashboard, select “Transfers” and enter the information. Note: The deposits are sent to the external account within 1-3 business days. Generally, if the account has been added before 8:00 pm, you can expect the deposits to arrive that same day.
How to transfer funds to make HELOC payments:
- From your home dashboard, select “Accounts.”
- Select your HELOC account.
- In the box that says “Next payment due MM DD,” click “Pay.”
- Select the account to transfer funds from.
- Type in the payment amount.
- Click “More options” to set the type, frequency and date of the transaction.
- Click “Submit.”
- Transfers from other institutions may take 1-3 business days to complete.
