Home Equity Loans

Home Equity Options from your Catholic Credit Union

You may wish to use the equity you already have in your home to help finance your project or purchase. Of course, there is a lot to consider and that’s where we come in. As your trusted Catholic credit union, we are here for you—every step of the way.

Home Equity Line of Credit*

• A line of credit loan that allows you flexibility to borrow some money now, use as you go, and use later.
• Easy access online, with your mobile app, audio teller, or in the branch.
• Borrow up to 90% of your combined loan-to-value (including your first mortgage).
• Seven year draw period and a fifteen year amortization.
• Low variable rates.
• Minimum loan is $10,000.
• Catholic Vantage Financial MLNS# 491926

A Home Equity Line of Credit is useful for borrowers that need some funds now and some funds later. For example:

• Ongoing improvement or remodeling projects.
• A variety of large purchases such as new appliances and furniture.
• To help pay for college or private school costs.

Here’s more information about Home Equity Line of Credit Loans:

• Read “What you should know about home equity line of credit loans.“
• Home equity line of credit application.
• Terms, agreement, historical rates and payment examples.
• Current Rates for home equity line of credit.
• No annual fee or closing costs.
• Appraisal is required and can cost $380 – $500.

Closed End Home Equity Loan**

• For borrowers who know exactly how much they want to borrow, and for how long.
• Affordable payment terms to help keep your cash on budget and payments on time. Chose terms of 5, 10, or 15 years.
• Borrow up to 90% of your combined loan-to-value (including your first mortgage).
• Low fixed rates.
• Minimum loan is $10,000
• Closed End Home Equity through Mortgage Center MLNS# 491926

Some great uses for a home equity term loan might be:

• One-time remodel, roof repair, new pool, or basement.
• Consolidate debt.
• Purchase a boat or vacation home.

Learn everything you need to know before you start.
Stop by our office or call 734.432.0212 and talk to a lending specialist.