Home Equity Loans 

You've put so much into your home. Now your home can pay you back. A Home Equity Loan can give you the money you need to make home improvements, take a vacation, buy a new car, or pay for college. It’s a money-saving way to fund whatever you like, even take care of unexpected expenses or reduce your monthly payments by consolidating loans and other high interest debts.

  • Loan funds from a Second Mortgage Loan are given as a lump sum and offer lower rates than most personal loans.
  • Substantial tax deductions may apply (consult your tax advisor)
  • Rate and payment amount never changes throughout the life of the loan.
If you prefer a revolving line of credit, consider a Home Equity Line of Credit.


Home Equity Line of Credit

This flexible, variable-rate loan lets you use the money when you need it and only make payments on what you use. So it's perfect for home improvements or college expenses.

  • Lower rates than most credit cards.
  • You can choose to pay interest only, or interest and principal, each month.
  • Substantial tax benefits may apply.
  • The funds are available whenever you need them -- and you make payments only on the amount you use.
  • Flexible Terms: 10 year draw period | 15 year repay period following draw period
View our Home Equity Line of Credit Special

Member Benefits

  • Lower rates than most credit cards and usually with a much higher credit limit.
  • You have the option each month for the first 10 years to pay interest only, or both interest and principal.
  • Substantial tax benefits may apply
  • Convenience of having the funds available whenever you need them.

Requirements

  • All rates are variable and will adjust monthly, according to the Prime Rate as reported in the Wall Street Journal.
  • Appraisal fee may be required.
  • Minimum line of credit is $5,000
  • The first advance has a minimum of $5,000.00; subsequent advances can be made for as little as $1,000.00.
  • Maximum line of credit is $300,000.
  • Maximum LTV (loan to value) is 90%. Loan to value may be lower depending on collateral and other underwriting conditions. Loan to value is calculated by taking the total of all liens (loans) attached to the property and dividing it by the value.