Home Equity Line of Credit

Our Home Equity Line of Credit gives you the peace of mind that comes from knowing that funds are available from your credit union when you need them.  Whether you need money for renovations, home improvement, college expenses, loan consolidation, or major purchases, a Home Equity Line of Credit allows you to borrow money using the equity in your home as collateral.  Add the fact that you can use funds now, or later, makes it even more convenient!

The Home Equity Line of Credit interest rate floats with the financial markets.  The rate is tied to the prime rate and is based on the amount you borrow.  The term is a maximum of 15 years.  You can write checks on this account and take advances against the line as needed.

Our members can borrow up to 80% of the appraised value of your home.

Use our easy equation to determine your available borrowing equity:

Appraised value of house _______ x 80% minus balance on existing mortgage = amount available for borrowing.

The interest you pay on this loan may be tax deductible, consult a tax advisor regarding the deductibility of interest. Rate and eligibility are based on your credit report. Use our Loan Calculator to determine the loan financing and payment options that are best for you.

Refinancing

Do you have a mortgage or home equity loan at another financial institution?  Be sure to compare the annual percentage rate you're currently paying with our rate.  If you're paying more on your existing loan, give us a call and we'll quote our interest rate and estimated payment.  We encourage you to refinance with us and we'll handle most of the details!

Land Only Loans

This loan is used for the purpose of purchasing vacant land.  The loan requires a minimum amount of $5,000.00 with a maximum amount of $100,000.00 for a term of up to 120 months. The loan amount is based upon a ratio no greater than 80% of the appraised value for undeveloped lots and up to 90% of the appraised value in a developed lot plan. The rate is equal to the 60 and 120 month Fixed Rate Home Equity, and has no prepayment penalty. Rate and eligibility are based upon your credit report. Use our Loan Calculator to determine the loan financing and payment options that are best for you.