Home Equity Loans

It's Good to Have Options

Your house could help you rock on with rates as low as 5.99% APR* on fixed rate home equity loans. Whether you need to take an unexpected midnight train to Georgia or need to spruce up your wonder walls, a home equity loan could make it possible.

Need a home equity line of credit? We have that too. And, depending on what you use the funds for, the interest may even be tax deductible!* Plus, FFCCU may cover up to $800 in closing costs!*

Home Equity Loans: What Should You Choose?

Home Equity Fixed-Rate Loan

A lump-sum loan at a fixed interest rate that you’ll pay back, in equal installments, over time.

Terms up to 15 years, with fixed rates
NO prepayment penalties (after one year)*
Your interest may be tax deductible.* (check with your tax advisor)

We'll cover up to $500 in closing costs when you borrow a minimum of $10,000, and up to $800 in closing costs when you borrow $50,000 or more!


Home Equity Line of Credit (HELOC)

A line of credit that uses the equity in your home as collateral. Use your line during the draw period, while paying a monthly balance throughout the life of the loan.

7-year draw period with a 15-year repayment.
$10,000 initial advance, and as low as $500 for subsequent advances

We'll cover up to $500 in closing costs when you borrow a minimum of $10,000, and up to $800 in closing costs when you borrow $50,000 or more!


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Our Rates

As of May 1, 2024
Loan TypeFixed Rate
Variable Rate
Home Equity Line of Credit Loan
Variable Rate, 7 yr. draw period, 15 year repayment
as low as 8.50%**
Home Equity Loan (Fixed Rate) as low as 5.99%*
*Annual Percentage Rate (APR) shown is accurate as of 5.1.24 and is available to well-qualified borrowers for a term up to 60 months, in first lien position, and a loan-to-value (LTV) ratio of 80% or less. Offer is only valid for new, fixed rate home equity loan applications submitted between 5.1.24 - 6.30.24, that are approved and opened within 60 days of the application date. Rate is determined by credit history, the term of the loan, the Loan to Value (LTV) ratio, and lien position. If you borrow $10,000 - $49,999, FFCCU may cover up to $500 in closing costs. If you borrow $50,000 or more, FFCCU may cover up to $800 in closing costs. Borrowers who incur closing costs, such as appraisal, title search, and flood search, during the application process, but whose loan does not close for any reason, including but not limited to, borrower electing to withdraw application, or if the results from the appraisal, title search, or flood search render the application ineligible for approval, are responsible for all closing fees incurred. For home equity loans, repayment terms are 60 to 180 months at varying rates. For example: For a $20,000 home equity loan for a term of 60 months with a 5.99% APR, payment would be $386.56 monthly.
Applicants must be eligible for membership.
**The prime rate is the highest prime rate published in the Money Rates Table of the Wall Street Journal on the last business day of each quarter. Prime is a variable rate; as it changes, the APR on your account will also change. The maximum APR that can apply is 18.00%. Credit is subject to approval, not all applicants will qualify. A home equity line of credit is secured by a first or second mortgage lien on your home, which must be one-to-two family residential real estate. Flood and /or property hazard insurance may be required. Other restrictions may apply.

Any advertised payment does not include amounts for taxes and insurance premiums. Please consult a tax advisor for further information regarding the deductibility of interest and charges. Applicants must be eligible for membership. Call or text 216.621.4644 or live chat at ffcommunity.com to get current rates as all Credit Union loan programs, rates, terms and conditions are subject to change at any time without notice.