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Cool down at home

Apply for this HELOC special today.

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A Home Equity Line of Credit (HELOC) gives you easy access to funds you need.

Popular uses for a HELOC

  • Home repairs (new roof, new furnace, etc)
  • Home remodels (new kitchens)
  • Emergency fund
  • Consolidation of debt (credit cards, vehicle loans, student loans)
  • New or used vehicle
  • Vacations
  • Second homes
  • Financing college expenses

Rates & terms

Learn more about our rates and terms
Loan terms to fit with your financial picture

Advantages of a Home Equity Line of Credit

  • Make affordable interest only payments
  • Access funds easily with provided checks or by visiting a local branch or making an online transfer
  • Benefit from tax deductible interest, based on tax bracket*
  • Pay no closing costs for a HELOC, but you may be required to pay for an appraisal or title policy, depending on line amount

Apply online, over the phone or in-person

With 26 convenient West Michigan branch locations and an easy to use online application, no matter how you want to apply, we will be convenient for you.

We have two types of applications. Let’s get you started on the right one: 

Home Equity type 1:   Refinancing your existing home debt or financing home improvements? Use this Home Equity Loan application.

Home Equity type 2:  For any other purpose, like an automobile purchase, debt consolidation, a vacation or any purchase not related to home improvements, use this Home Equity Loan application. 

Talk to an expert today. Call us at (877) 820-2265.  

Macatawa Bank's primary lending area is West Michigan.  Online applications will be considered received on today’s business day if submitted during the course of the bank’s normal business hours;
  • 9am EST – 5pm EST Monday – Friday, excluding Federal Holidays
  • 9am EST – 12pm EST on Saturdays

Applications received outside of this timeframe, including Federal Holidays and Sundays will be considered received the next business day. 

What borrowers need to know . . . 

Credit granting criteria
Terms & conditions for Home Equity Line of Credit
Your home loan toolkit: A step-by step guide
NMLS consumer access

*Introductory Annual Percentage Rate (APR) of 2.49% on eligible new home equity lines of credit (HELOC). Loans of $100,000 or greater with a maximum loan to value (LTV) of 80%, a minimum credit score of 760 and a $10,000 or more advance at closing would have an APR of 3.90% at the end of the introductory period. Current HELOCs may qualify if credit line is increased by at least $10,000 (minimum credit limit must be $50,000) and at minimum $10,000 new money advanced at close. Introductory rate is fixed for six months following the account opening date, and is not based on index and margin used for later rate adjustments. After the introductory 6 month rate period, the rate is a variable rate based on prime plus a margin. The prime rate is based on the Wall Street Journal Prime Rate. Current prime rate is 4.00% as of March 16, 2017. The margin for a home equity line of credit, in the amount of $100,000 or more with a minimum 760 credit score and a maximum LTV of 80% is Prime - 0.10% (3.90%). The APR is variable and can change at any time without notice, but will never be greater than 25.00%. Annual fee of $75 is waived for first year. If you close your Credit Line before the third anniversary you may be charged 1% or 2% of the principle balance depending on lien position, up to $250. For loans under $249,999, there are no origination fees, unless an appraisal is needed, which is paid out of pocket. Fees may range from $350 - $1,000. The term of the line is 25 years, consisting of a 10 year draw period with interest only payments followed by a 15 year repayment period with amortizing payments of principal and interest which may increase your monthly payments, for loan amounts $249,999 or less. Maximum loan amount of $500,000. Your minimum payment during the Advance Period will not decrease the principle balance on your account. Other rates and terms are available, contact your local banking office for more details. Consult a tax advisor regarding the deductibility of interest. Loan subject to credit approval and owner occupancy guidelines. Equal Housing Lender. Offer valid 4/1/17 through 6/30/17.

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