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Home Equity Loans
and Lines of Credit

Tap into your home equity for exceptional rates and easy access to cash for virtually all of your goals.

Home Equity Financing Solutions

As a homeowner, you have made a smart investment. Now, you can make that investment work even harder for you. By tapping into your home’s equity, you can use your home as collateral to finance a wide variety of goals. This could include debt consolidation, home repairs and remodeling, travel, weddings, higher education, furniture and appliances, and even unexpected bills. Your home equity is the value of your home less the amount of any outstanding mortgage debt. At EFCU, we offer both home equity loans and home equity lines of credit (HELOCs) to give you:

  • Some of the lowest financing rates available
  • Lines of credit up to 100% LTV
  • Cash to use however you choose
Home Equity Line of Credit (HELOC)

As a line of credit, a HELOC works like a credit card, giving you access to as much cash as you need up to your available line of credit. This means you only finance what you need when you need it, making a HELOC incredibly flexible and affordable. A HELOC provides a low variable interest rate. Because they give you ongoing access to cash, a HELOC is great to have available for a variety of expenses that come up over time, such as vehicle repairs and do-it-yourself home improvements occurring over time.

Home Equity Loan A home equity loan is a term loan that gives you a fixed lump sum of cash upfront based on the equity in your home. With a home equity loan, you receive a lump sum and then repay the loan over a set period of time at a fixed interest rate. Because they are term loans, home equity loans offer a low fixed interest rate and predictable monthly payments. These loans are a great way to pay for a significant upfront expense like college tuition, fixing or replacing a roof, or any large home improvement.

No matter which home equity financing solution you choose, the knowledgeable lenders at EFCU are here to help you through the process. Need help determining which type to select? Get in touch with us, and we can help guide you to the right solution for your individual needs. Call us at 775.738.4083 or stop by your favorite EFCU branch.

*Rates for this product are determined by an evaluation of applicant credit. Your rate may vary from the rate shown.