With the equity you’ve built, your home is a real “safe” place! By paying your monthly mortgage, you’ve been building a vault. The equity you’ve established in your home stores a generous supply of cash for you to unlock. Open this vault with an affordable Home Equity Loan from Option 1. Get the funds to have fun without draining your savings or relying on the absurd rates of credit cards.

Open End Equity Line of Credit
Rates now as low as:

5.75% APR*

NO Closing Costs!

A variable-rate revolving line of credit that offers the ultimate in convenience. Simply write a check to access your funds. Having cash ready when you need it gives you the flexibility to take advantage of opportunities that won’t wait. We also allow interest-only payments on all Home Equity Lines, offering you the power to decide how much you'd like to repay from month to month.

Another way to borrow from your home's equity:

Fixed Rate Home Equity Loan
Looking for some relief from that mountain of bills? Overwhelmed with things to pay for? We can help!

We'll lend you the cash you need at a fixed rate that's truly hard to beat. Now you can wave goodbye to your bills and simplify your finances with an Option 1 Home Equity Loan at a comfortable:

6.40% fixed APR**

NO Closing Costs!

Call our loan team today:
In Grand Rapids: 616-243-0125 or 800-323-2129
In Lansing: 517-319-1300 or 800-533-8559

*Home Equity rates are based on the percentage of the equity you are borrowing. Lowest rate available on Home Equity Line of Credit is Prime minus 1/4% (5.75%) APR, currently offered on loans with 80% or less LTV. Current maximum rate on a Option 1 HELOC is 8.00% APR. Your rate will never be less than 4% or exceed 18%.
**Your Annual Percentage Rate (APR) will be based on your credit and loan-to-value ratio, as low as 6.40% for terms up to 180 months. If appraisal is needed, borrower to incur cost. Payment Example: The monthly payment for $20,000 financed at 6.40% APR for 180 months is $173.18.

Applying for a Home Equity Loan is easy

Just follow our 3-step process:

• Step 1: Gather the documents needed (listed below)
• Step 2: Fill out a loan application
• Step 3: Send or bring the documents and application to any Option 1 office (Additional information may be required. If so, we will contact you.)

Documents Needed to Apply for a Home Equity Loan

• A current property tax receipt
• Homeowner’s insurance policy
• First mortgage document and a statement showing your present mortgage balance, if applicable
• Title insurance policy, survey and appraisal, if available
• Current wage receipt. If self-employed, previous year’s tax return
• Complete loan application (Use our on-line application)
• Signed disclosures and good faith estimate (will be mailed or given to you by Option 1)

Online Loan Application