Home Equity

You've dreamed of a kitchen even a renowned chef would envy. You're longing to consolidate all your debts. You can picture yourself driving off in a brand new luxury car. One of the best ways to finance your dreams is with a Home Equity Loan or Line of Credit from Harris. For more information and details about the features below, just click on the home equity product that is right for you.

Home Equity Line of Credit • Borrow against your line as you need it, with easy access using checks, online banking, a Harris Equity Access card by MasterCard®4, or visiting your nearest branch1 • Low interest-only monthly payment2 • Variable rate with Fixed Rate Lock Option available3

Home Equity Loan5 • Borrow one lump sum • Fixed rate • Fixed monthly payments of principal and interest

1. For Harris' Home Equity Line of Credit, the APR is a variable rate based on the highest Prime Rate published in the "Money Rates" section of The Wall Street Journal on the first business day of the calendar month. On May 1, 2008, the Prime Rate was 5.00% and the promotional APR on Harris' equity line products varied between 4.00% and 8.50%, depending on your approved commitment amount, product and credit qualifications. In order to qualify for this promotional rate, you must maintain a personal Harris checking account. If you do not have a personal Harris checking account, the APR varies between 4.25% and 8.75%. The maximum APR is 18%. A $50 annual fee applies after the first year. If you choose to make minimum monthly interest payments, you will not repay the principal outstanding on your account. You will be required to pay the entire outstanding balance in a single payment when the 10-year draw period ends. Rates are dependent on your loan amount, product and credit qualifications.
2. Closing costs paid by Harris are limited to appraisal, flood determination, title insurance and recording fees. Costs to satisfy certain prior liens may be assessed. Property insurance is required; flood insurance may be required. Consult your tax advisor about the deductibility of interest. Property must be an owner-occupied 1-4 family residence in IL, IN or the WI counties of Walworth, Racine, Kenosha, Milwaukee, and Rock and is subject to no less than a second lien position on your property and is subject to our underwriting standards. This offer does not apply to any transaction used to purchase a 1-4 family residence.
3. If the Fixed Rate Lock Option is selected, there is a $50 fee FINANCE CHARGE each time you exercise this conversion option. The minimum lock amount is $5,000. The APR for each Rate Lock Feature will be a fixed rate equal to 18%. We may at our sole discretion provide a Rate Lock Feature at a discounted APR that is lower than the rate stated above. A recent APR that we used for the Fixed Rate Feature is 6.74% and the APR does not include costs other than interest. The Harris Equity Access Card may not be available in all states. This offer is non-transferable, cannot be combined with any other offer, and can be withdrawn at any time without notice. Subject to credit approval, which includes verification of application information and receipt of collateral documents.
4. The Harris Equity Access Card may not be available in all states. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.
5. Harris offers a 6.99% APR on home equity loans of $25,000 or more with a loan-to-value ratio not exceeding 85% and a loan term of 6 to 15 years. This 6.99% APR fixed rate assumes both a personal Harris checking account and automatic monthly payments from a personal Harris checking or savings account. (For loan amounts of $25,000 or more without a personal Harris checking account and without automatic payment deductions from a personal Harris checking or savings account, the APR would be 7.49% and would result in 120 monthly payments of $11.86 per $1,000 borrowed). Funds will be disbursed after the federally mandated cancellation period.