Equity Loans

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Equity Loans

We’ll help you get the Equity Loan that’s right for YOU!

The equity that you have built in your home can be a valuable resource. It can be used for your child’s education, for home improvements, purchasing a vehicle, paying off bills and much more. The interest may be tax-deductible. There are no fees or closing costs with ECFCU’s equity loans greater than $25,000. Choose the equity loan that’s right for you.

Home Equity - FixedTerm80% LTVTerm
5 yearsstarting at 6.00%
10 yearsstarting at 6.50%
15 yearsstarting at 7.00%

Fixed Home Equity Loan

  • Fixed Rates
  • Fixed Terms
  • No closing costs or annual fees
  • Up to 80% financing (subject to change)

Home Equity Line of Credit (HELOC)

  • Access the equity in your home with a line of credit. You can draw against the line for ten years and pay interest only, if you desire. At the end of the ten-year draw period, you begin a fifteen-year repayment of principal and interest.
  • Variable Rate
  • Your line can be accessed by checks
    No closing costs* or annual fees
    Borrow from $25,000 to $100,000
Home Equity Line of Credit *AmountTermRate
Starting at Prime **

Why a Home Equity Line of Credit?

  • No Points, Closing Costs* or Application Fees!
  • Convenient Payment Options
  • Flexibility in paying the interest only on the portion of the credit line that you actually use Member Service to answer your questions and guide you through the simple process

Why a Home Equity Line of Credit?

  • No Points, Closing Costs* or Application Fees!
  • Convenient Payment Options
  • Flexibility in paying the interest only on the portion of the credit line that you actually use
  • Member Service to answer your questions and guide you through the simple process
*Annual percentage rate will be based on your credit worthiness.
**Annual Percentage Rate (APR) may vary monthly and will be based on the Prime Rate published in the Wall Street Journal on the last business day of the month. Prime Rate as of 4/01/2024 is 8.50%. Rate based on approved credit.Minimum APR 4%. Maximum APR 18%
Consult your tax advisor concerning tax deductibility

Have Equity? You have Options

Fixed & Home Equity Lines of Credit

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