If you’re doing home improvements, paying for school or other major expenses and you don’t know a fixed amount that you want to finance, a Home Equity Line of Credit may be the answer. The rate is typically less than a traditional loan and uses your house as collateral, so you can borrow more. Qualified members may receive rates as low as Prime minus .75%.
A Home Equity Line of Credit is a revolving source of funds, like a credit card, that you use as your need it. Closing Costs are only $74 through the end of October!
Let the equity in your home work for you with a Route 31 Credit Union Home Equity Loan. Eliminate the pressure of paying high-rate loan and credit card payments by paying off your balance in advance with the equity in your home. A Home Equity Loan is a fixed loan amount that also uses the equity in your home as collateral.
Whether you are financing major expenses such as home improvements, college, investments, or just paying off other loans…a Route 31 Credit Union Home Equity Loan is a smart way to take advantage of the equity in your home. Equity is the difference between the value of your home and the mortgage balance. The more you have paid off on your mortgage, the more equity you have to borrow from.