Home Equity
- Overview
- Home Equity
- Home Equity Line of Credit (HELOC)
- Adjustable Rate Mortgage (ARM)
- Land Loans
- Originators
Have you been dreaming of home renovations, or thinking about using your equity to pay down debts? A Home Equity loan from Industrial Credit Union allows you to use the equity you’ve built in your home to bring your projects and dreams to life.
Loan Highlights
- Your loan stays at the Credit Union, we don’t sell our servicing
- Finance up to 80% of the appraised value of your home
- No application fee
- No prepayment/payoff penalty
Please note. rates are adjusted daily. APR = Annual Percentage Rate For 15 Year Home Equity rates, see Home Loans tab Payment Example for an Adjustable Rate Mortgage (ARM): For example, on an ARM loan for $150,000 at 4.451% APR, you would make 60 fixed payments of $1,131.74*, then 120 payments at the indexed rate of 4.25% – 10.25%, which might vary. *Payment does not include taxes and insurance. Payment Example for a Fixed Rate Mortgage – Home Improvement No Equity: For example, on a fixed loan for $25,000 at 7.227% APR, you would make 119 fixed payments of $285.51*, then 1 fixed payment of $284.81*. *Payment does not include taxes and insurance. |
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Home Equity | Interest Rate | Points | APR |
---|---|---|---|
5/5 Adjustable Rate | 4.250% – 5.500% | 1.00% | 4.451% – 5.708% |
Home Improvement No Equity | 6.530% – 7.780% | 1.00% | 7.227% – 8.494% |