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!
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.
MARGARET GILBRIDE went way above and beyond to help me with a bill pay issue. I would like to acknowledge her with a great big THANK YOU!
-Lori C.
I cannot thank Tilisha Champ at the Willoughby branch enough for going above and beyond to get my auto loan approved. She was a pleasure to work with her. Words can’t express how appreciative I am. I...
-Percaker G.
Our Financial Service Rep spoke with the travel agency directly to ensure payment for our dream vacation made the deadline. The process reaffirmed that FFCCU is the best credit union for us!
-The Freeborns
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.
I’ve been a long-time member but have never used the chat feature until today. Karen B was so nice and helpful- answered all my questions and was very personable. I’ve always received great service at...
-Erin S.
Thank you to LeeAnn, for the prompt response to my online question. Our family has benefited from over 30 years of outstanding service with Firefighters Community Credit Union.
-Jeffery K.
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.
Emily answered my text quickly (on a Saturday morning!) and helped me promptly with my request. I love the text feature at FFCCU!!
Amanda J.
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.
I would like to thank Meghan T., for taking her time with a loan we needed. We were nervous about coming in, but she was very thorough and helpful. Words can’t express how appreciated we felt!
-Alice & James D.
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.
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.