

Apply for a Home Equity Loan in Iowa
Experience financial flexibility by leveraging your home’s value for renovations, investments, or anything else you want to tackle at home.
Which Home Equity Option is Right For You?
Start here to compare loan types, features, and payment details.
Home Equity Loan: Fixed Rate, Lump Sum
A Home Equity Loan provides a one-time lump sum at a fixed interest rate, making it an ideal option for large expenses, such as home improvements or debt consolidation.
Home Equity Loan Features:
- Fixed interest rate for predictable monthly payments
- Lump-sum payment provides immediate access to funds
- Flexible repayment terms to suit your budget
- Potential tax benefits (Consult your tax advisor)
Ready to Secure Funds at a Fixed Rate?
Must be 18 or older to apply. All loans are subject to credit approval.
Home Equity Line of Credit: Flexible Equity Financing
A Home Equity Line of Credit (HELOC) offers you ongoing access to funds as you need them, perfect for ongoing projects or unexpected expenses.
HELOC Features:
- Revolving credit line gives you access to funds whenever you need them
- Flexible loan options whether you're looking for a fixed or variable interest rate
- Borrow, repay, and borrow again during the draw period
- Only pay interest on the amount you use
Looking for Flexible Access to Your Home’s Equity?
Must be 18 or older to apply. All loans are subject to credit approval.
What Can a Home Equity Loan Be Used For?
Leverage your home's equity to finance life's major expenses.

Home Renovations
Enhance your living space and increase your home’s value.

Debt Consolidation
Combine high-interest debt into one payment.

Education Expenses
Cover tuition, books, or other educational costs.

Major Purchases
Finance life’s big moments with a flexible loan.
Home Equity Loan Application Process
Get Approved
A local lender will review your application and provide a decision.
Access Your Funds
Once approved, access your funds the way that works for you.
Home Equity Loan vs. HELOC: Which One Fits Your Needs?
Features | Home Equity Loan | HELOC |
---|---|---|
Uses your home as collateral | ✔ | ✔ |
Fixed interest rate | ✔ | ✖ |
Borrow up to 85% of your home’s value | ✔ | ✔ |
Receive money as a lump sum | ✔ | ✖ |
Continuously receive funds as needed | ✖ | ✔ |
Can be used again and again | ✖ | ✔ |
Fees & Costs | Home Equity Loan | HELOC |
$15 annual maintenance fee applies | ✖ | ✔ |
No penalty for early payoff | ✔ | ✔ |
FAQs About Home Equity Loans
Get answers to common questions about home equity loans and how they work.
How much can I borrow with a home equity loan?
You can typically borrow up to 85% of your home’s value, depending on your credit and income.
What’s the difference between a home equity loan and a HELOC?
A home equity loan provides a fixed amount upfront, while a HELOC works like a credit line you can draw from over time.
What Is a Home Equity Loan?
A home equity loan lets you borrow a lump sum using the equity you’ve built in your home. It comes with a fixed interest rate and a set monthly payment, making it easier to plan your budget.
You get the funds up front, then repay over a set term. It’s a solid option if you know exactly how much you need and want predictable payments.
What Is a HELOC?
A Home Equity Line of Credit, or HELOC, gives you flexible access to funds using the equity in your home. Instead of borrowing a lump sum all at once, a HELOC works more like a credit card—you draw what you need, when you need it, up to your approved limit.
You’ll typically pay interest only on the amount you use during the draw period, with a variable interest rate. It’s a smart option if you have ongoing projects or want a safety net for unexpected expenses. When the draw period ends, you’ll begin repaying the balance over a set term with regular payments.
What Do Banks Consider When You Apply for a Loan?
When you apply for a loan, banks look at your overall financial picture to decide if the loan is a good fit. This includes your credit history, income, existing debts, and how much equity or collateral you have (if required).
They want to see that you can repay the loan comfortably, based on your current financial habits and stability. The stronger your track record, the better your chances of approval and favorable terms.
Mallory was incredibly helpful and professional throughout the loan process, providing excellent knowledge and guidance.- Wael A.
Make the Most of Your Home’s Equity
Unlock your home’s equity with FSB’s competitive rates and flexible terms.1 Use it for home improvements, debt consolidation, or other major expenses.
Get the Support You Need
Need more information? Fill out the form below, and a banker will assist you.

Drive away in your dream car with fast approvals and rates designed to keep your payments low and manageable.