Home Equity Line of Credit

Put the equity in your primary residence to good use with a HELOC from Meridia.

Let Your Home’s Equity Work for You

A Home Equity Line of Credit is a variable-rate form of revolving credit where the equity in your primary residence serves as collateral. A Home Equity line allows you to draw money out when you need it,  without the need to qualify every time you want an advance. Finance home improvements, upgrade appliances, pay college tuition, take a much-needed vacation, or consolidate high-interest debt with a Home Equity Line of Credit (HELOC) from Meridia.

A HELOC is a low-interest, variable-rate loan used to establish a line of credit by securing your primary residence as collateral. Get the equity in your home to work for you. Go Beyond the norm with an affordable HELOC from Meridia. You can draw on the line of credit over a 12-year period.  Consult a tax advisor to see if the interest paid may be tax-deductible. The closing cost contribution depends on total amount of your line. Enjoy these added benefits:


  • Have a line of credit available when you need it.
  • Prime + 0.00% for the life of your line of credit.
  • Make home improvements or upgrade appliances.
  • Consolidate debt from credit cards, other loans or medical expenses.
  • Finance education or pay for a wedding.
  • Take a vacation you’ve been dreaming about.
  • For the first 5 years of the loan, the payoff term is your choice up to 180 months.
  • Possible tax-deduction (consult your tax advisor).

“We had a high interest rate when we purchased our home with a thirty year mortgage. Meridia gave us the opportunity to refinance our mortgage at a lower rate, and with the savings, we cut the term down to 15 years! And when we needed new windows, the available equity gave us the money to replace them with almost no effort at all! Best move we could have made.”

–Jeanne & Charles O.

How to Get Started

Complete the Checklist

Complete the Home Equity Line of Credit checklist and then stop by a branch. Please call us with any questions at 716­-648­-4411. We’re here to help!

We offer HELOC loans at prime + 0.00%.


180 months8.50%

APR = Annual Percentage Rate. The maximum APR will not exceed 14.5%. Based on the Prime Rate in effect on 07/26/2023, your APR for Prime plus 0.00% would be 8.50%. This rate may vary quarterly. (2/1, 5/1, 8/1 & 11/1) Your line is secured by a mortgage on your home and property insurance is required. There are no annual fees.

Updated June 22, 2024


The accuracy of our calculators and their applicability to your circumstances are not guaranteed. You should consult with a qualified professional regarding your particular circumstances.


Closing costs
(determined by the amount
of the line of credit)

As low as $749
Other fees may apply.

Frequently Asked Questions

What is the difference between a Home Equity Line of Credit (HELOC) and a Fixed Rate Home Equity Loan?

Once established, a HELOC  allows you to draw money out  as it becomes available on your line of credit.

A Fixed Rate Home Equity Loan works in a similar way to your  first mortgage. It enables you to use the equity in your primary residence through a single payout.

Since a HELOC uses my home's equity as collateral, what happens if I sell my home? Will I have to pay off the balance right away?

Yes, you will need to pay off your Home Equity balance at the time you close the sale of your home. A satisfaction of your mortgage will be sent to your attorney to be used at the closing of the sale.

How long will my Home Equity be available to me?

The line of credit will be available to draw from for 12 years.

How long will the process take?

Due to the regulations we need to comply with, this process does take longer than a personal loan, but usually less time than a First Mortgage.

Is there a prepayment penalty?

No! If you pay the loan off early, not only is there no penalty, you save on the overall interest cost.

What do I need to apply?

You will need to stop in to a branch to get a paper application, along with a checklist of supporting documents needed.

How much can I apply for?

As a first lien, you can finance up to 100% of the appraised value. As a second lien, you can finance up to 95% of the appraised value less any existing liens. Meridia only accepts a first or second lien position on your primary residence.

Let Your Home’s Equity Work for You

Finance home improvements, upgrade appliances, pay for college tuition, take a much-needed vacation, or consolidate high-interest debt with a HELOC from Meridia.