| A Home Equity Loan allows you to
borrow between $10,000 and $250,000 using the available equity in
your home. The loan and the interest you pay may
be tax deductible. Your check is usually ready within 10-14 business
days.
Is A Home Equity Loan Right For You
| • |
You want the loan proceeds in a lump sum, |
| • |
You want a fixed standard monthly payment; and |
| • |
You do not want a revolving line of credit. |
Advantages of a Home Equity Loan
| • |
A fixed standard monthly payment. |
| • |
The interest you pay on the loan may be tax deductible. |
Determining Equity
Click here
for more information on the methods to determine the equity in your
home.
Availability
Justice FCU Home Equity Loans may not be available in all states. Click here for eligible locations.
Closing Costs
Closing costs for Home Equity Loans include all recording expenses needed for the filing of your Deed within the County Land Records. Upon approval of your application, your Home Equity Specialist will provide you with an estimate of your closing costs.
Repayment Term
| • |
5 years - For loan amounts between $10,000 and
$250,000 |
| • |
7 years - For loan amounts between $10,000 and
$250,000 |
| • |
10 years - For loan amounts between $25,000 and
$250,000 |
| • |
15 years - For loan amounts between $50,000 and
$250,000 |
Interest Rate
The interest rate is fixed over the life of the loan.
Click
here for current rates.
Application Verification Documents
Click
here for Application Verification Checklist. |
