WHAT OUR MEMBERS SAY
WHAT OUR MEMBERS SAY
About SchoolsFirst FCU

“The Credit Union has something for everyone, from someone who is financially savvy to a person who just needs basic services.”


– Amy C.
Member Since 2010

About SchoolsFirst FCU
MOST POPULAR CONTENT
MEMBER FAVORITES Personal Loan
Branch & In-Store Branch Services
Financial Wellness & Education
Fixed & Variable Annuities
Compare SchoolsFirst FCU Checking Accounts
15-Year Fixed Rate Home Equity Loans
15-Year Fixed Rate Home Equity Loan

 

Primary Residence

 

With a Home Equity Loan, you borrow a set amount, receive the lump sum at funding, and pay interest on that full amount. Conversely, a Home Equity Line of Credit (HELOC) is a form of revolving credit where the funds are available to you to draw as you need, and you only pay interest on what you use.

Home equity loans can be taken out for almost any reason, from simple home improvement projects to remodeling, to helping pay for college expenses or going on vacation. How you use the money is up to you. However, borrowing too much of your equity can be detrimental if your home’s value falls — you’ll owe more than your home is worth.

Features

  • Available on single-family residences and condominiums (manufactured and mobile home properties are not eligible)
  • No lender origination fees1

Get Started

Online

Submit a Home Equity Loan Application

 

Call

Call 

 

800.462.8328, ext. 8288

Monday through Friday, 8 a.m. - 7 p.m.

Saturday, 9 a.m. - 3 p.m.

 

Term Interest Rate Annual Percentage Rate (APR) Maximum Loan Amount Maximum Combined Loan-to-Value (CLTV) Estimated Payment Per $1,000 Borrowed
15 years 3.875% - 5.375% 3.875% - 5.375% $250,000 80%2 $7.33 - $8.10
 

Disclosures

The rate you may qualify for is based on factors including your credit rating and the combined loan-to-value (CLTV) of your property. A minimum credit qualifying score is required. Rates listed are effective as of date and subject to change without notice. The interest rate and payments are fixed for a term up to fifteen years, fully amortized. Equity loan products are simple interest. This means the amount of interest estimated on the loan is based on the assumption that monthly payments will be made on the precise due date. Any early payments will reduce the final amount due, while any late payments will increase the final amount due. The final amount due may be substantially higher than the amount reflected on the application and must be paid in full on the maturity date of the loan. Payments do not include amounts for taxes and insurance premiums, if applicable, the actual payment obligation will be greater. An approved application is required for a rate to be locked. All loans subject to approval.

1Lender origination fees may be incurred if accommodation recording fees, title charges to clear or transfer liens, or indemnification due to construction on the subject property are required. The borrower is responsible for these costs. 

 

2CLTV up to 80% 

 

 

 

 

 

Retrieved 198 rate items for HECODE from the database.
PAGE data created:: appKey[b20140806_15_year_fixed_rate_home_equity_loan_rate] timeToExpire[15]
Rates.jsp [content_generated] cacheDuration[15min] cacheTime[06/24/2021 20:40:00 pm] appKey[b20140806_15_year_fixed_rate_home_equity_loan_rate]
NOT A MEMBER?
NOT A MEMBER?
RELATED CONTENT
RELATED CONTENT
Apply for a Loan •  Apply for a Loan
 
 
Apply For a Home Loan •  Apply for a Home Loan
 
 
Workshops •  Workshops
 
 
Retirement & Investment Forms •  Retirement & Investment Forms
 
 
Statement of Fees •  Statement of Fees
 
 
Calculators •  Calculators
REFER A FRIEND
REFER A FRIEND