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!
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
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.
Jenny and Victoria from the Wellington branch were super helpful with getting things going for me, and gave me peace of mind. So grateful for their help!
-Austin L.
We want to give a shout out to Margaret from the Emerald Branch, she was excellent in helping us with our accounts. She made it easy to understand and to do. She even came in on her day off to help us...
-John D.
I feel good using a credit union instead of a regular bank. Having the interactions with FFCCU teammates has been a gamechanger. It’s completely changed the way I see myself interacting with my financ...
William W.
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
Our family has benefited from over 30 years of outstanding service with Firefighters Community Credit Union. Thanks for the prompt response to my online live chat question.
-Jeffery K.
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
I was connected to this credit union through my employer back in 1989. I don’t know where to begin on how life changing my membership has been. The entire staff is wonderful regardless of branch...
-Drew 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
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.
The FFCCU team went above and beyond to help my 16-year-old get onto her mobile app. They were very helpful and kind. Definitely #peoplehelpingpeople and #CUDifference!
-Donna P.
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 5.99%* | |
*Promotional Annual Percentage Rate (APR) shown is accurate as of 5.1.25 and is available to well-qualified borrowers for a term up to 60 months 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 5.1.25 – 7.31.25, that are approved and opened within 60 days of the application date. Rate is determined by credit history, the term of the loan, and the Loan to Value (LTV) ratio. Fixed rate home equity loan rate is determined by the Prime Lending Rate as its index plus a margin, credit history and the number of years loan is financed. 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. Home equity loan repayment terms are 60 to 180 months. For example: A $50,000 home equity loan for a term of 60 months with a 5.99% APR, payment would be $966.41 monthly. Maximum APR for Home HELOC is 18%. Call 216-621-4644 for current rates as they are subject to change at any time and without notice. Applicants must be eligible for membership and become a member if loan is approved. Accounts are insured up to $250,000.00 by American Share Insurance. This institution is not federally insured by member choice. MEMBERS’ ACCOUNTS ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENT OR GOVERNMENT-SPONSORED AGENCY. |