Whether you want to take a vacation, put in a pool, or remodel the kitchen, you can use your home’s equity to make that happen. Learn here how a Second Mortgage, HELOC and Home Equity Loans can work for you.

Second Mortgage

A second mortgage is a loan that’s secured by the equity of your home.  It’s called a second mortgage because it follows your first mortgage. These loans are ideal for paying off high-interest credit cards, educational expenses, vacations, and home improvements. There are two common types of second mortgages: HELOCs and home equity loans.

INB offers flexible terms and competitive interest rates on both types of loans, and the interest may even be tax-deductible; consult your tax advisor to be sure.

Apply for a second mortgage 


A home equity line of credit, or HELOC, allows you to have access to cash to make purchases up to the value of the loan. HELOC’s are flexible: you can withdraw the money as you need it over a fixed amount of time.  

Repayments schedules are flexible as well, but there is a minimum monthly payment, much like a credit card payment. Keep in mind that your home is the collateral for a HELOC, so you need to be in a position to make the payments.

It can take a few weeks from application to approval of a HELOC because it is a second mortgage. We will evaluate your financial situation and home equity like we did when you applied for your first mortgage.

Apply for a HELOC

Home Equity Loan

Like a HELOC, you borrow against your home’s equity and use your home as collateral. Unlike a HELOC, a home equity loan provides you with a lump sum of money upfront. You’ll pay back the amount you borrowed plus interest on a schedule. Home equity loans are perfect when you know exactly how much money you to borrow.

To apply for a HELOC or Home Equity Loan with INB, please use our Second Mortgage application.

Apply for a second mortgage

Visit us at any location to speak with one of our experienced staff members.

Call us at 217-747-5500 or toll-free 877-771-2316.

Home equity assumptions (discount information plus disclosures and additional assumptions).