Home Equity Loans
As inflation and mortgage payments increase the value of your home, your equity becomes a tremendous asset. It could be much greater than you think. You may borrow up to 100% of the equity in your home.
Use the money for home improvements, college tuition, debt consolidation, buying a car or a vacation.
There are no restrictions!
In some cases you’ll receive a tax advantage. (Consult your tax advisor regarding interest deductibility.) So it’s nice to know that if you ever need to borrow money, the equity in your home makes excellent collateral for a loan.
- Allow you to borrow from $10,000 up to $150,000 (based on the value of your home, your first mortgage balance and credit approval).
- Provide competitive rates with no teaser or temporary rates.
- Have no prepayment penalty. • Waive up to 100% of closing costs(dependent on loan amount).
- Have no annual fee. • Offer easy transfer of your existing home equity loan to the credit union.
- Offer multiple loans with different amounts and time periods to pay off. (For example, you can pay for college tuition with a 4-year loan and make home improvements with a 15-year loan. Both loans combined in your home equity loan.)
Credit Union MLO# 793191
Kirk Miller MLO# 808855
Home Equity Open End
Line of Credit
- Variable Rate
- $200,000 maximum
- Up to 20 years to repay
Home Equity Closed End
Line of Credit
- Fixed rate
- $2000,000 maximum
- Up to 14 years to repay
Great for refinancing an existing loan with 8 – 12 years left at our lower rates
Preferred rate when payments made by payroll deduction or by electronic funds transfer (ACH).