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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 - Fixed | Term | 80% LTVTerm |
|---|---|---|
| 5 years | starting at 5.00% | |
| 10 years | starting at 5.50% | |
| 15 years | starting at 6.00% |
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 * | Amount | Term | Rate |
|---|---|---|---|
| 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