Tired of Juggling Multiple Debt Payments?

If you're a homeowner in Lincoln or Lancaster County carrying multiple debts like credit cards, personal loans, medical bills and more, you're probably paying more interest than you need to.

If you own a home in Lincoln or Lancaster County and have debt spread across multiple items, you might be paying too much in interest. Many Nebraska homeowners are asking the same question right now: Is there a better way to handle my debt?

For many, the answer is already in their home, it’s called home equity. You can use your home equity to combine (or “consolidate”) high-interest debts into one lower-interest loan. This can save you a solid amount of money over time.

The Problem with High-Interest Debt

Credit card interest rates are higher than ever, often over 20%. If you have had a credit card balance for a long time, when you pay your credit card bill, a big part of your payment goes toward interest, not the actual amount you owe. Over time, that can cost you thousands of dollars in just interest.

Here’s an example: if you owe $15,000 on credit cards with a 22% interest rate, you could pay around $3,300 in interest each year, just to keep up. But if you use a home equity loan at, for example, 5.75%, that same debt would potentially cost about $862 in interest per year. That’s a savings of more than $2,400 each year. That extra money saved can be used in important areas of your life like family, savings, or future, not just credit card interest.

How Home Equity Debt Consolidation Works

When you use a home equity loan or home equity line of credit (HELOC) to pay off debt, you borrow money based on your home’s value, typically at a much lower interest rate in comparison to the credit cards in the market (not ours, though!). You then use that money to pay off your high-interest debts, leaving you with one easier monthly payment.

Right now, Lancaster County homeowners are in a great position because home values have gone up. That means many people have more equity than they think. Use that equity to take control of your finances, not just to fix up your home, but to build a stronger financial future.

Fixed Loan vs. HELOC for Debt Consolidation

A Fixed Home Equity Loan is best if you know exactly how much debt you want to pay off. You get all the money at once, with a fixed rate and steady monthly payments for 5 or 10 years. Easy to plan, no surprises.

A Home Equity Line of Credit / HELOC is great for flexibility. You can borrow money as needed over five years and only pay interest on what you use. This option works well if you have debts that change from month to month.

At LincOne, you’ll pay $0 in application fees, $0 in closing costs, and $0 in origination fees on fixed home equity loans and HELOCs through May 31, 2026*. You can also borrow up to 100% of your equity on a fixed loan and up to 90% on a HELOC.

Is This the Right Move for You?

Using home equity to pay off debt isn’t for everyone, but it could be the right choice if you:

• Have built up equity in your Lancaster County home
• Are currently paying high interest on credit cards or loans
• Want to combine multiple payments into one simple payment

Keep in mind: a home equity loan or HELOC is based on your property, so it’s very important to borrow carefully and make your payments on time. LincOne advisors can help you look at your numbers to make sure it’s the smart move for you.

Lincoln's Housing Market Works in Your Favor

Lincoln and Lancaster County home values keep rising, giving homeowners more borrowing power. If you’ve lived in your home for a few years, your equity has probably grown, and you can use it to lower your debt faster.

Using your home equity to pay off high-interest debt can help cut down your total interest, stress less about monthly bills, and move closer to financial freedom.

Let's Look at Your Numbers Together

You can use LincOne’s Home Equity Calculator at linconefcu.org to see how much money you might borrow. Or, set up a free meeting with a LincOne advisor. We’ll help you understand your options and find the best fit for your goals — no pressure, just honest advice.

Learn More

Schedule a Virtual or In-Person Appointment

Call us: 402.441.3555

*All Closed End Loan Rates include .50% off for automatic payments made from LincOne Checking Account. All rates advertised require an autopay from a LincOne Checking Account. With approved credit. $25 Savings account balance is required. Rates, terms, and conditions are subject to change without notice. LincOne will pay for ALL closing costs on fixed-rate and HELOC loan applications. The member is responsible for escrow payments and/or prepaid costs, if required, including property taxes and assessments, homeowners’ and flood insurance premiums, association fees/dues and assessments, and prepaid interest.

**No application fees or closing fees on new loans now through 5/31/2026, new money only.