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 have 5 to 20 years to repay the debt
  • Quarterly statements
  • $150 processing fee

Variable Home Equity Line Of Credit:        

  • 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

5-Year Balloon Home Equity Loan:

  • 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 years
  • Quarterly statements
  • $150 processing fee

View Home Equity Rates Apply for a Home Equity Loan