Home Equity Loan
Ideal for large expense, such as a major home improvement, or you want to consolidate your debt.
- Funds disbursed all at one time
- Fixed monthly payment amounts
Home Equity Line of Credit
Ideal for recurring expenses, such as home renovation or education-related costs.
- Funds can be used as needed
- Variable monthly payment amounts
Click here to fill out our Application. You can also log into Online Banking or contact a lending representative at 800.328.1500.
NOTE: We offer up to 95% combined loan-to-value for Home Equity Loans and Home Equity Lines of Credit.
Fees: All closing costs and fees associated with a Home Equity Loan or Home Equity Line of Credit are the responsibility of the member; however, these fees can be financed with the loan.
Method used for determining the amount that you can borrow:
|Value of home||$100,000.00|
|Equity Loan Value||$40,000.00|
Payments will be amortized on the basis of one year for every $2,000.00 borrowed, not to exceed 15 years. Loan payments will remain constant until an additional advance is made.
Interest may be deductible, check with your tax advisor.