Home Equity

Home Equity Loans & Second Mortgages

At Mid American, we offer two home equity borrowing options: a lump-sum loan or access to a line of credit whenever you need it. The interest paid on either option may be tax-deductible.

Equity Access VISA

Easily access your home equity line of credit through a VISA credit card or with checks. Features a variable interest rate tied to the Wall Street Journal prime rate, plus certain percentage points.

Apply for Equity Access VISA

Traditional Second Mortgage / Home Equity Loan

For specific, large expenses — such as consolidating debt or making home improvements — this fixed-term, fixed-rate, closed-end loan is your best option. You’ll get a lump-sum payment and then make fixed monthly payments at a fixed interest rate.

Apply for Second Mortgage

What’s my Home’s Equity?

To estimate your equity, use the appraised value determined by your county. Your loan application process will include a separate appraisal to confirm your home's value.

Estimation example:

$150,000 – Appraised value of home
x 90%
$135,000 – This is 90% of your appraised value
-50,000 – Amount owed on mortgage
$85,000 – Available equity

Woman using her mobile phone for banking

Mobile Banking

We're there for you wherever you are, whenever you need us. Learn More.

Father helping his daughter count her savings

Youth Accounts

Get a head start on your child's financial success. Learn More.