Home Equity Line of Credit
Chances are you have taken very good care of your home. CVF Credit Union believes in turning your home’s equity into opportunities. Whether you’re dreaming of renovating your space, consolidating debt, or funding a major expense, our home equity products are designed to make life better for you. Explore below to discover how our Home Equity Line of Credit (HELOC) and Home Equity Loan can unlock the potential of your home’s value, providing flexible solutions tailored to your financial needs and goals.
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Home Equity Line of Credit
A line of credit loan giving you the flexibility to borrow some money now, use as you go, or use it later. It’s up to you! With easy access online, simply make a transfer from your loan into your checking account via your mobile app or online banking, and you’re on your way.
With a Home Equity Line of Credit, you can:
- Borrow against your Primary Residence, Investment Property, or Second Home.
- Minimum loan amount of $10,000, maximum loan amount of $250,000
- Enjoy no pre-payment penalty
- Take advantage of low or no closing costs
Home Equity Loan
A closed-end home equity loan is similar to a traditional home mortgage. You will receive the entire loan amount up front in your checking account, and you will repay the loan through monthly principal and interest payments.
With our Home Equity Loan, you can:
- Borrow against your Primary Residence, Investment Property, or Second Home
- Minimum loan amount of $10,000, maximum loan amount of $250,000
- Enjoy no pre-payment penalty
- Take advantage of low or no closing costs
More on Home Equity Lines of Credit
- Read What you should know about home equity line of credit loans
- Check Our Current Rates
- No annual fee or closing costs.
**A home equity loan will place a second lien on your home. There is an estimated appraisal fee of approximately $500. Your fee may be more or less depending on property and appraisal required. Additional fees may apply. Home owners insurance is required. Flood insurance may be required. Mortgaged property must be located in Michigan. Your rate will be based on credit history, term and combined loan-to-value of collateral. Member must have sufficient income to cover debt. Minimum loan amount is $10,000. Other terms and conditions may apply. Contact us for more information. The Home Equity Line of Credit Loan is a variable rate based on the Wall Street Journal Prime Rate and can change quarterly.
Put Your Equity To Work… Today
Complete this form and we will be in touch soon to start the process right over the phone. Don’t want to wait? Give us a call at (734) 432-0212.