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Home Equity and
HELOC Loans

Loans to make a house your home.

Man fixing home with pet nearby

Do you want to use the equity you have built in your primary residence?

With our Fixed Home Equity Loans or our Home Equity Lines of Credit (HELOC)1, you can do just that. You can borrow 80% of your home’s value at a low rate or borrow up to 100% of the value at a slightly higher rate. Our home equity loans have fixed interest rates, fixed monthly payments and flexible repayment terms.

An Educators Credit Union Home Equity Loan can help you:

  • House Improvements

    Improve your home

  • Credit Report

    Make a big purchase

  • Dollar Bill

    Consolidate debt

Home Equity Loans vs HELOCs

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  • Purpose

    Purpose

  • Terms

    Terms

Home Equity Loans

  • Purpose

    For members who want to borrow money for any purpose as long as the equity is available, and the home is used as collateral.

  • Terms

    As long as 15 years with a maximum loan up to 90% of a home's appraised value, less any outstanding mortgages and 10 years with a maximum loan up to 100%.

HELOCs

  • Purpose

    An open-ended loan for members who want to borrow up to an approved limit, pay it back, and borrow again, all without reapplying for a new loan.

  • Terms

    Only pay on the amount borrowed, not the entire approved line with this budget friendly loan.

Rates

Fixed Home Equity Loans

Loan to Value

APR1 as low as

Payment per $1,000

Normal closing cost approximately $161 (for title search and recording) unless appraisal is needed. For approval, an appraisal or tax statement value is needed. Appraisal may be required.

Loan to Value

80% or less

APR1 as low as

6.20%

Payment per $1,000

$19.43

Loan to Value

81%-90%

APR1 as low as

8.15%

Payment per $1,000

$20.36

Loan to Value

91%-100%

APR1 as low as

9.65%

Payment per $1,000

$21.09

Home Equity Line of Credit (HELOC)

Loan to Value

APR15

5APR is a variable rate. Max APR is 17.9%.
Rate adjusted quarterly to -0.51% to +1.99% over Prime Rate.
Maximum loan 100% of appraisal value, total 1st and 2nd mortgages.
Closing cost, appraisal cost, and other fees may apply.

Loan to Value

<80% LTV2

APR15

7.99%

Loan to Value

81%-90% LTV2

APR15

9.49%

Loan to Value

91%-100% LTV2

APR15

10.49%

Ready to achieve some of your goals?

Not a member? Open an account.
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Apply for a loan using our online application.
View the digital application
Contact us through Educators Connect Cam™.
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