Home Equity Loans
Equity is the difference between the market value of your home and the amount you still owe. For example: If your house appraises for $200,000 and you only owe $75,000, you have $125,000 in equity in your home. Use the power of your equity to secure a low rate. Closing costs are just $200.
You can use the equity established in your home for a variety of borrowing needs. You’ll receive a great low rate and an affordable monthly payment.
HOW IT WORKS:
Home equity financing is a cost-effective borrowing solution. By leveraging your equity, you receive a low rate – lower than many other forms of funding, including credit cards and personal loans.
Terms up to 240 months
Borrow amounts of $5,000 to $150,000, or up to 80% of your home’s value
FLEXIBLE:
Fixed-Rate Home Equity Loan – Offers a set rate, fixed payment, and flexible term for your loan. It works well for any project or purchase. You can also use it for a major home improvement, such as an addition or complete remodel.
Versatile Uses – A home equity loan is an excellent choice for any home renovation. And depending upon your project, you can often recoup much of your original investment.
Refinance – If you currently have a home equity loan with another financial institution, save money by refinancing it with Switch FCU. Our convenient options and flexible repayment terms make it a sensible choice – consider shortening your term or lowering your monthly payment. You can even roll your first mortgage into a home equity loan.
Added savings: Low closing fees of just $200! That’s hundreds less than other financial institutions!