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!*
KUDOS!
I cannot say enough good things about the individuals I have worked with – especially when my card number was stolen. The service I have had is why I have moved all my accounts to FFCCU. KUDOS!
-David H.
I’d like to give Kudos to Sue Whitt!! She always made herself available to answer phone calls, was prompt in providing documents in a way convenient to my work schedule, and found an expedited resolut...
-Frank D.
The entire team answering the electronic messages is outstanding. I’m hearing impaired and have trouble with voice calls. Jashira, LeeAnn, Jessica, and Karen have been wonderful in helping me through...
-Denny J.
Melissa G. is the BESSSSSSSSTTTTTTT!! She helped me beyond the call of duty AND was super pleasant about it. My experiences at FFCCU are always good, and Melissa is great!!
-William M.
Clicked the “Live Chat” button, asked my question, got my answer literally within a minute. THIS is what support from a banking institution should be like. Thanks so much for your help!
-Ryan M.
I work with banks and credit unions on a daily basis, and FFCCU goes above and beyond to help its members. Thank you all for making the process easy to understand and treating me like a person.
-Jennifer
Margaret at the West Side branch was great. We had a good time finishing up my new motorcycle loan. I appreciate her reminding me to make sure I adjust my direct deposit for the new loan.
-John & Cindi
Thanks to Karen for helping me via Live Chat. She noticed I wasn’t using my account to my advantage and offered me a suggestion to do so. You rock! Appreciate the chat feature and have used it often.
-Gigi
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.
FFCCU made wrapping up my new car loan as easy as anyone could ever hope! What more can you ask for?! Thanks, Firefighters Community Credit Union, always!
-Dawn B.
Love working with FFCCU – personal, motorcycle, and R.V. loans – they’ve got you covered, and it’s easy. We’ll be doing a lot more business in the future and recommend others do the same.
-Jason C.
Every one of my questions about the Ignite checking account were answered! This credit union is one of my favorites; there is such a calming environment when you enter. Staff is so helpful!!
-Jacob O.
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!
How much will it cost you to borrow?
Estimate your loan payment now!
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 8.50%* | |
Home Equity Loan (Fixed Rate) | as low as 6.78%* | |
*APR = Annual Percentage Rate. Variable Rate Home Equity Line of Credit (LOC) can reprice monthly and uses Prime Lending Rate as its index plus a margin. Your Rate is determined by your credit history and the Loan to Value (LTV) ratio. Rate floor is 2.00%APR and ceiling is 18.00%APR. 7-year draw period with a 15-year repayment. $10,000 initial advance, $500 minimum subsequent advances. Borrow up to 80% of home’s equity (appraised value times 80% less any existing liens), up to $250,000. Fixed Rate Home Equity Loan Rate is based on credit history, lien position, and the number of years loan is financed. Borrow up to 80% of home’s equity (appraised value times 80% less any existing liens), up to $250,000. Repayment terms are 60 to 180 months. |
*Calculations are based on a $250,000 purchase with 20% cash down, resulting in the financing of $200,000. APRs reflect fees of $4,500 and terms described above (30, 20, 15, and 10-year fixed-rate conventional loans). Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80%. All rates and estimates listed are based on qualifying credit. Rates and payments may be higher depending on credit score or other factors pertaining to credit-worthiness. Home improvement gift card offer only valid for fixed rate home equity loan applications made between 7/1/2023 – 8/31/2023, that fund within 60 days of the application date.