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A home equity line of credit (HELOC) is a revolving line of credit using your home as collateral. A HELOC gives you the convenience and flexibility of a revolving line of credit that allows you to draw and repay funds up to a determined line amount. And interest paid on your loan may give you a tax deduction, which could lower your overall tax burden.2

A HELOC can allow you to:

  • Cover the costs of home improvements – update a kitchen or bathroom, add a deck or patio, replace the windows, put in a new air conditioner, furnace or heat pump, or finish a basement.
  • Purchase or refinance an automobile or recreational vehicle such as a boat, ATV or motorcycle.
  • Gain flexibility by using it as a cash management tool to provide flexibility with your finances – when you have emergency cash needs, you can tap your line of credit – when you have extra cash, you can use that to pay down your home equity line and potentially reduce your minimum payment.
  • Pay for once-in-a-lifetime events such as a wedding.
  • Pay off high interest rate loans.
  • Write checks to cover expenses whenever you need the extra cash instead of applying for a number of fixed term loans.

Features of UMB's home equity line of credit:

  • No annual fees
  • A minimum credit line amount of $10,000
  • A 10-year draw term; all accrued interest is due monthly, with a single balloon payment due at maturity.3
  • The introductory 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.
  • The origination fee of $250 may be reduced or waived if you have a qualifying UMB checking account. There are no origination fees for customers who have either a UMB Select or UMB Value Checking account4; the fee for customers with a UMB Convenience Checking account or no UMB checking account is the lesser of 1% of the line amount or $250.
  • Hazard and flood insurance may be required for the property that secures the HELOC.


Couple looking at budget

Already have a UMB HELOC? Lock in an interest rate for all or a portion of your balance with our Fixed Rate Option.5

Learn More

After your 1-year or 3-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 2.49% or exceed 18%.
  • The variable rate after promotional period is based on your checking account relationship with UMB, the Wall Street Journal Prime (Prime) rate, line amount and UMB relationship. As of June 14, 2018, the Prime rate is 5.00%.1
  • As of June 14, 2018, the variable rate for Home Equity Lines of Credit ranged from 5.74% APR to 8.00% APR. Higher rates may apply due to an increase in the Prime Rate, size of credit line, a loan that exceeds 80% of the home's appraised value, or a loan secured by a non-primary residence.

Payment Information

Payments are due monthly. Your minimum payment will equal the amount of your accrued interest and finance charges, plus any amount past due and all other charges. An increase in the APR may increase the amount of your minimum payment. At the end of the term, you will be required to pay the entire remaining balance in a single balloon payment (exceptions apply for Texas HELOCs due to Texas State Law). If you make only the minimum payments, you may not repay any of the principal balance by the end of term.

  • 3.99% APR 1-Year Promotional Minimum and Maximum Payment Example:
    If you made only the minimum payment and took no other credit advances, it would take 10 years to pay off a credit advance of $10,000.00 at an annual percentage rate of 7.00%. During that period, you would make 119 monthly payments ranging from $33.25 during the first year (12 months) at the promotional rate (3.99%) to $58.33 for the remainder of the term at an annual percentage rate of 7.00% with one final payment of $10,053.08. Your maximum payment if you had an outstanding balance of $10,000.00, the minimum payment at the maximum annual percentage rate of 18% would be $152.88.

The payment examples above do not include amounts for taxes and insurance premiums, if applicable, and that the actual payment obligation will be greater.

1. Limited time offer, subject to change. Credit approval required. Other introductory rates may be available. Not all loan programs are available in all states for all loan amounts. 3.99% Annual Percentage Rate ("APR") fixed for one (1) year, then rate becomes variable, currently 5.74% APR.

2. You should consult your tax advisor regarding the deductibility of interest.

3. Exceptions for Texas HELOCs due to Texas state law. Visit a UMB banking center or call your UMB bank representative for more information.

4. Additional information about UMB checking accounts, including fees, terms, and conditions, can be obtained by visiting a UMB branch.

5. Certain restrictions and documentation requirements may apply. All loans subject to credit and collateral approval. Geographic restrictions apply.