Home equity loans and home equity lines of credit (HELOC)

UMB offers competitive interest rates for home equity lines of credit (HELOCs) and home equity loans

By taking advantage of your home’s equity, you can cover the costs of home improvements, purchase or refinance a vehicle, pay for large expenses or consolidate your debt. Speak with a UMB personal banker to see if a HELOC or a home equity loan is right for you.

Home Equity loans

UMB offers competitive interest rates for home equity lines of credit (HELOCs) and home equity loans

By taking advantage of your home’s equity, you can cover the costs of home improvements, purchase or refinance a vehicle, pay for large expenses or consolidate your debt.

Putting your home value to work with a Home Equity Line of Credit (HELOC)

Introductory HELOC rates for 12 months as low as 5.99% intro APR for 12 months, then variable 8.49% - 11.25% APR applies.1

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Taking advantage of your equity with a fixed rate Home Equity Loan

A home equity loan can help you make a large purchase or fund a house remodel with one convenient lump sum – all with a competitive fixed rate.

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Compare home equity options

Not sure which home equity loan is right for you? Take a look at this comparison chart to help you decide which home equity financing option suits you best.

  Home Equity Line of Credit (HELOC) Home Equity Loan
What is it? Reusable line of credit where your home serves as collateral A lump-sum loan where your home serves as collateral
Financing type Revolving line of credit Traditional loan
Rates May have adjustable or fixed rates Fixed rate
How you access funds Spend what you need -- You may access money up to a determined limit, pay it back and borrow again as needed At loan closing, you receive a one-time lump sum to use as you need it
Payments Monthly payment amounts can vary depending on how much of your HELOC you use and the interest rate Consistent monthly payment amounts
Perfect for: Ongoing expenses like building your dream kitchen or making home repairs Making large, one-time purchases, remodeling your home

With a UMB HELOC, you receive

  • No annual fees

  • A 10-year draw period to access funds, followed by a 20-year repayment period

  • Origination fee waiver when you open a qualifying UMB checking account.2

  • Flexibility to access funds online, in a branch or with checks.3

Exceptional service

Whether you know exactly what you need or prefer some help to understand your options, your UMB personal banker will be with you every step of the way.

Competitive rates

We offer HELOCs and home equity loans with competitive rates, convenient features and flexible account options to help you find the financing you need.

Online account management

Quickly and easily manage your UMB HELOC or home equity loan with online banking and the UMB Mobile Banking app.

Do you already have an UMB HELOC?

Lock in an interest rate for all or a portion of your balance with our fixed rate option.4

Find out more

Questions about a home equity loans or line of credit? UMB has answers.

Choose the UMB credit card with the rewards you want.

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Get financing savvy with our loan calculators.

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  1. Offer rates and terms are subject to change without notice. Credit and collateral approval required. Offer available for new UMB home equity line of credit ("HELOC") customers. This offer does not apply to existing UMB HELOC customers. To qualify for this promotional rate, the property secured by the HELOC must be your primary residence. Additional restrictions and limitations apply. The introductory annual percentage rate ("APR") will be in effect for the first 12 months of your loan term, even if you do not draw on the line of credit during that period.

    After your 1-year promotional period ends, your APR will be determined as follows:
    After the promotion period ends, your APR may vary for the remaining life of the loan and can change monthly, but will not be lower than 3.49% or exceed 18.00% during the life of your loan. The variable APR that applies to your loan after promotional period is based on the Wall Street Journal Prime rate ("Prime Rate") plus a margin, which will vary based on your checking account relationship with UMB, loan to value ratio, line amount, and whether the property securing your loan is your primary residence. As of May 4, 2023, the Prime Rate was 8.25%, and the variable rate for UMB HELOCs ranged from 8.74% - 11.50% APR. To qualify for the lowest APR available, you must have a UMB Select Checking account, the combined value of all liens of the property should not exceed 80% of the property's appraised value, and the line amount must be greater than $100,000.

    Payment Information:
    Payments are due monthly. Your minimum payment during the draw period will equal the amount of your accrued interest and finance charges, plus any amount past due and all other charges. At the end of the draw period, your HELOC will enter the 20-year repayment period and your minimum monthly payment will include principal and interest plus any amount past due and all other charges, or $100, whichever is greater. An increase in the APR may increase the amount of your minimum payment.

    Additional information:
    Other introductory rates may be available. Not all loan programs are available in all states, or for all loan amounts; additionally, some methods for accessing funds may not be available in every state.

    Hazard insurance is required for the property that secures the HELOC. Flood insurance is required for properties in special flood hazard areas. Required payments do not include amounts for taxes and insurance premiums. You will be responsible for annual taxes and insurance.

  2. Qualifying checking accounts include UMB Select and UMB Value Checking. The origination fee is waived for customers who open a UMB Select or UMB Value Checking account; the fee for customers who open a UMB Free Checking account or have no UMB checking account is the lesser of 1% of the line amount or $250. Current UMB customers may qualify for an origination fee waiver based on account type. See a UMB personal banker for more information.
  3. Exceptions for HELOCs secured by collateral in the state of Texas, due to state law. Visit a UMB branch or call your UMB personal banker for more information.
  4. Restrictions and documentation requirements may apply. All loans subject to credit and collateral approval. Geographic restrictions apply.

Bank deposit products provided by UMB Bank n.a., Member FDIC. Equal Housing Lender

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