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Unlock Your Home's Equity

with a Home Equity Loan or Line of Credit
Tap into $20,000 - $300,000

Fixed Home Equity

Rates as low as:

10 % APR*

Home Equity Line of Credit

Rates as low as:

10 % APR*
Your Needs in Mind
First Credit Union offers Home Equity Loans with your needs in mind -
from small improvements to full home renovations, paying for college, consolidating debt
or taking care of unexpected expenses.
Fixed Home Equity vs. Home Equity Line of Credit:​
When you unlock the equity in your home, you can choose between a fixed rate loan with a locked-in term or a revolving line of credit. A fixed-rate home equity loan is great for helping you budget, since you'll have predictable monthly payments for the life of your loan. However, if you need flexibility and intend to use the funds periodically over time, a Home Equity Line of Credit (HELOC) could be a better option.
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HOME RENOVATION

CONSOLIDATE DEBT

TAKE A DREAM VACATION

PAY FOR SCHOOL

WEDDING EXPENSES

Fixed Home Equity Loan vs. Home Equity Line of Credit:

Fixed Home Equity Loan1 Home Equity Line of Credit2
Interest Rate Structure
Competitive, Fixed Rate
Revolving Line of Credit
Monthly Payments
Fixed
Varies
Access to
Receive lump sum upfront
Borrow funds as you need them
Repayment Terms
Loan terms of 2-15 years
10 year draw period with up to 20 year repayment period2
Interest Costs
You know exactly how much you'll pay
Overall borrowing costs may increase if rates rise
Maximum CLTV
(Combined Loan-to-Value)
75%
75%

Get started, even without your documents.

Apply online in minutes.

*APR = Annual Percentage Rate. Quoted rates reflect the lowest rate available. Best Rate may vary based on personal credit history, value of collateral, loan to value (LTV), terms, and other factors. First Credit Union provides details upon completion of a loan application. Rates are subject to change without notice. Must be primary residence. Property insurance required. Payments do not include applicable taxes and insurance. First Credit Union membership is required. Closing costs – Closing costs include property evaluation, flood certification, property ownership and encumbrances search, and recording costs. First Credit Union will pay closing costs associated with a home equity loan. Member is responsible to reimburse closing costs associated with their loan if it is closed within the first 36 months.

1. Fixed Home Equity Loans: APR will be fixed during the term. Must be primary residence. Property insurance required. The minimum approved loan amount is $10,000. The maximum approved loan amount is $300,000.  Payments do not include applicable taxes and insurance. Actual obligation will be greater. Payment example would be $718.08 a month on a $35,000 loan for 5 years with an APR of 8.50%. Must be primary residence.

2. Home Equity Lines of Credit: Current APR is variable and can range from 4.50% (floor) to 18.00% (ceiling).  You can obtain credit advances up to 10 years (the draw period). During the draw period, payments will be due on a monthly basis. Your minimum monthly payment will be established at the close of each billing cycle at an amount equal to all accrued yet unpaid finance charges. After the draw period ends, you will no longer be able to obtain credit advances and must pay your outstanding balance (the repayment period). The length of the repayment period will depend on the date and the amount of your last advance but in no event will exceed 20 years. During the repayment period, your minimum periodic payment (for variable rate balances) will be the amount necessary to fully amortize your then unpaid balance by the agreement maturity date. The minimum periodic payment will be established on the first day of such repayment period. $99 annual fee applies.

Secure and Fair Enforcement for Mortgage Lending Act of 2008 or the “SAFE Act”

NMLS #790286 | On July 28, 2010 the National Credit Union Association (NCUA) and other Federal Agencies published a final rule to implement the federal registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). The registration requirements apply to all employees acting in the capacity of a Mortgage Loan Originator (MLO). The S.A.F.E. Act requires all MLO’s to register with the Nationwide Mortgage Licensing System and Registry (NMLS). Once registered, each MLO is provided a Unique Identifier from the NMLS. An MLO must provide this Unique Identifier to each mortgage loan applicant upon request and prior to the employee acting as an MLO.

For more information about the registry, please visit the NMLS.