With a Home Equity Loan or Home Equity Line of Credit, you will be able to use your home as a financial resource to help you achieve your goals quickly.
Home Equity details
Limits between $10,000 and $300,000
Loans up to 90% of the property value less any outstanding first mortgage balance
Property value is determined by an appraisal
No prepayment penalties
The Credit Union will pay for the following closing costs1
Mortgage Title Search
Termite Inspection (up to $75)
Roof Inspection (up to $75)
Documentary Stamp Tax (computed on the loan amount)
Recording Service Charge
Your Out-of-Pocket Expenses
Home Equity Fixed Rate Loan2
Intended for a specific expense, a Home Equity Fixed Rate loan is great for home improvements, dream vacations or debt consolidation — the possibilities are endless! A Home Equity Fixed Rate loan offers a one-time cash payout with convenient repayment terms of 5, 7, 10 and 15 years.
A Home Equity Line of Credit (HELOC) works similar to a credit card. As you make payments on your decreasing Home Equity balance, paid-off funds become available again without submitting another loan application. Fixed and variable rate Home Equity Lines of Credit are available.
Our fixed rate Home Equity Line of Credit is for a pre-established amount, offers a five-year draw period and repayment terms of 5, 7 and 10 years.
Our variable rate Home Equity Line of Credit is for a pre-established amount, offers a ten-year draw period and a repayment term of 10 years.