Home Equity Loans
Turn the equity in your home into a resource that works for you ...
Use the equity you have built up in your home to do the things you want. We offer you two options to suit your borrowing needs - Fixed Rate Home Equity Loan and Equity Advantage Line of Credit.
Home Equity Loans can be used to:
- Consolidate existing loans
- Make home improvements
- Purchase new appliances
- Pay for college education
- Take your dream vacation
Whether you choose a Fixed Rate Home Equity or an Equity Advantage Line of Credit, you will enjoy the following benefits:
- No closing costs1
- Interest may be tax deductible2
- You may be able to borrow up to 90% of your equity in your home
Fixed Rate Home Equity Loan
- Loan for a specific amount and term
- Fixed rate with a fixed payment amount
- Flexible terms available
- Useful for one-time purchases or events, such as consolidating bills or buying a boat
Equity Advantage Line of Credit
- Adjustable rate loan3
- Apply once and receive a pre-approved credit limit
- Borrow what you need, when you need it
- Take an advance any time using Home Banking, D.A.D.®, or your Equity Advantage Checks
- Useful for ongoing expenses, such as home improvement projects or college education
*CCU offers Home Equity Loans for properties in AZ, CA, CO, CT, DE, FL, IL, KY, MD, MA, MI,
MO, NJ, NY, NC, OH, PA, TN, VA, WV, and WI.
1Closing costs are waived unless loan is discharged within 3 years of the origination date, in which case you will be required to pay the prorated closing costs, which will range from approximately $300 to $1800.
2Consult your tax advisor regarding deductibility of interest paid.
3The interest rate on the Equity Advantage Line of Credit is an adjustable rate based on the prime rate in effect on the first day of each month and is adjusted on the last day of the month.
1Closing costs are waived unless loan is discharged within 3 years of the origination date, in which case you will be required to pay the prorated closing costs, which will range from approximately $300 to $1800.
2Consult your tax advisor regarding deductibility of interest paid.
3The interest rate on the Equity Advantage Line of Credit is an adjustable rate based on the prime rate in effect on the first day of each month and is adjusted on the last day of the month.
