Home Equity Loans
It's Good to Have Options
Get a home equity loan or line of credit, the choice is yours. Home equity loans are a great low-rate option when you want to tackle big home improvements, consolidate debt, or pay for college. 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
WHAT IS IT?
A lump-sum loan at a fixed interest rate that you’ll pay back, in equal installments, over time.
INFO TO KNOW:
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)
BONUS!
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)
WHAT IS IT?
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.
INFO TO KNOW:
7-year draw period with a 15-year repayment.
$10,000 initial advance, and as low as $500 for subsequent advances
BONUS!
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!
Estimate Your Loan Payment Now
KUDOS!
The quick response was A-1. The respect was apparent, and the knowledge? –muah!– [chef’s kiss] Thanks to the North Ridgeville Branch team!
Kim M.
I needed a new vehicle loan, and FFCCU beat other interest rates so dramatically it was a no “brainer.” I was so happy with the service I am switching all of my checking and savings over. Kudos...
-Amy B.
Whenever I have questions and start a chat I always receive a quick response with all my questions thoroughly answered. Just wanted to say THANK YOU!
-Jerry T.
Beth Meyer is priceless. I can’t imagine things going any smoother. She stayed in touch at every step and moved everything along with ease.
-Ryan R.
Wow!!! You give me the best customer service!!! I’m an 8-year Member and can say my Credit Union performs like nothing else. They take such a personal interest in all my issues, great and small.
-David W.
Berto was awesome. I joined up today as a brand new member, and he helped in every possible way to make the process smooth and complete. Thanks, Berto!
Karen
Erica Irons went above and beyond for our home loan! In spite of storm damage causing our branch to close, she made our transaction smooth. I love FFCCU in Willoughby ❤️
Mary Kay & Joe
I love FFCCU! All of the convenience of a big bank with more personalized service. Friendly and helpful staff. A great financial partner! And I love how the credit union is member owned.
Rachel
The loan process was quick and easy. One of the FFCCU teammates told me about loan options when I was at the branch – by the time I was home 10 minutes later – they had already checked in.
-John S.
Thanks to Brian Velioniskis, our financial goals are back on track. He explained the options for setting up our home equity loan very clearly and made the process easy.
-Jeff C.
Beth was great to work with! Super responsive. The entire process was so smooth and easy!
-Brooke G.
Customer service is very understanding, and they make sure that your needs are met. I have been with the Firefighters Community Credit Union for over 40 years and I will remain a member.
-Teresa G.
Our Rates
Loan Type | Fixed Rate APR* | Variable Rate APR* |
---|---|---|
Home Equity Line of Credit LoanVariable Rate, 7 yr. draw period, 15 year repayment | as low as 7.50%** | |
Home Equity Loan (Fixed Rate) | as low as 6.28%* | |
*Annual Percentage Rate (APR) shown is accurate as of 3.15.25 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. 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. |