Putting your home to work harder for you.

A home equity loan is a second mortgage in addition to your original loan. The home equity loan allows you to borrow against the equity in your home and/or your original mortgage that has been paid down so you don’t have to dip into your savings. You can use these funds for practically anything like home improvements, education, or unexpected expenses.

You receive the funds as a lump-sum payment after closing, which is why many homeowners use the money when large expenses come due.

Home Equity Fixed Interest Loan: 

  • Offers a fixed interest rate over the life of the loan
  • Not a line of credit
  • Members make a one-time advance and can choose from multiple terms to repay the loan
  • Quarterly statements
  • $150 processing fee

Variable Home Equity Line Of Credit:     Get a low introductory rate of 1.90%25 APR

  • Very low variable rates: Rate is based on the Wall Street Journal Prime rate and can change quarterly. 
  • May be advanced by check or through online banking
  • Monthly statements
  • Payments are amortized over 15 years based on the current balance
  • Lines of Credit can be advanced for the first 10 years of the loan and then revert into repayment mode of 15 years on primary residences
  • $150 processing fee

*After nine months, introductory rate of 1.90% APR will revert back to the standard rate ranging from 5.25% - 6.25% APR. Rates are subject to change. The maximum allowable rate is 18% APR. The Credit Union will pay up to $1,000 in closing costs, anything over $1,000 (usually $0-$500) plus a processing fee of $150 will be paid by the member.

5-Year Balloon Home Equity Loan2:

  • Fixed rate good for five years
  • Members may pay off the balance at the end of the five year term or refinance
  • Not a line of credit
  • Payments are amortized over 15 years2
  • Quarterly statements
  • $150 processing fee

Signature FCU Home Equity Products also feature:

  • Closing costs paid up to $1,000 by Credit Union1
  • No origination fee
  • No Prepayment penalty
  • Rental property financing available at low interest rates3
  • Payments may be made bi-weekly or monthly, and by payroll allotment or check
  • We lend nationwide excluding Hawaii, Alaska, and Puerto Rico

View Home Equity Rates

Not a Signature FCU member? Join today! (You must be a Signature FCU member to apply for a loan)

Join Signature FCU

Apply for a Home Equity Loan Online     Consumer Loan Application

If you have completed the Consumer Loan Application, you can submit it by using our Secure Upload button below.

Securely Upload Your Consumer Loan Application

1Signature will pay closing costs up to $1,000 of the closing costs associated with the processing of your Home Equity Loan which include but are not limited to; credit report, flood determination, verification of employment, settlement charges, title, and appraisal fees. This aso includes government charges and recording fees.This offer excludes the processing fee and any origination fees charged for investment properties. Closing costs vary based on location, type of property and the loan amount. Any closing costs over $1,000 (generally $0 - $500) are paid by the member and can be added to the loan request.  Paying your loan off within 3 years (36 months) from the loan origination date, will result in the reimbursement of all closing costs associated with this loan transaction paid by Signature Federal Credit Union. These costs will be added to the payoff of this loan. An employment verification fee of $19.80 will be assessed for each working applicant and a processing fee of $150 also applies, and is the responsibility of the member.

2 Estimated payment is $8.05 per $1,000 financed based on 5.25% After 5 years, the remaining balance would need to be paid in full or refinanced. 

3Signature will finance 75% of the value of non–owner occupied rental properties.