Home Equity Loan
A Home Equity Line of Credit is a great tool for home projects when you haven’t decided how little or how much you want to do.
Home Equity Lines of Credit are open-ended*, interest only, adjustable rate mortgages that allow you to go up to 80% of the value of your home, less your first mortgage balance. The rate adjusts according to the current Prime Rate.
If you have a one-time need for cash and prefer the security of a fixed rate, a home equity loan may be for you. Use your home equity loan for a purchase, debt consolidation, home improvement, college expenses, or even a dream vacation! A home equity loan is a closed-end, fixed rate loan that allows you to go up to 80% of the value of your home, less your first mortgage balance. Equity loans carry convenient terms of 60, 120, or 180 months.
*Other rates may apply. Interest rates offered may depend on credit history and certain credit scoring qualifications. Early termination fee may apply. Contact credit union for more details. Terms subject to change. Equal Housing Lender.