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Home Equity Loans

Enjoy Your Home for All It’s Worth

With every mortgage payment you make, you're building equity in your home. Why not use it? Home equity solutions can usually provide you access to larger sums of money, for longer terms and at lower interest rates compared to other types of loans. In most cases, your interest is tax-deductible (consult your tax advisor). You can use the equity in your home for any number of things:  

Consolidate Higher Interest Debt

Home Improvements

Dream Vacation

College Education

New Furniture or Appliances

Take a look at this chart to see which option may be best for you.
ProductMay be right for you if…Benefits
Home Equity Loan

You know the specific amount of money that you need for a one-time purpose

  • Lump sum dollar amount at closing
  • Fixed payments for the duration of the loan
Home Equity Line of Credit (HELOC)

You want to borrow what you need when you need it

  • No interest is charged until you use funds
  • Convenient home equity checks that you can use whenever & wherever you need them
  • Draw period is 5 years* from date opened
  • Minimum payment is 1% of outstanding principal balance or $100*, whichever is greater, during the “Draw Period

Get More Information on Home Equity Loans
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*APR = Annual Percentage Rate. Subject to credit worthiness and membership eligibility. Variable rate subject to change with prime rate for the duration of the line of credit. Rate may change monthly. Your home equity contract rate is variable based on Wall Street Journal Prime Rate, on your creditworthiness, and CSEFCU’s lending policies. Your rate will vary but never exceed 18.00% APR and never fall below your contract rate. Financing up to 90% of the home’s value is available. This offer is only available on owner occupied homes. Minimum credit line draw of $5,000. Property insurance required. Flood insurance may be required. No early repayment penalty. Monthly Payments will be $100 or 1% of the HELOC balance, whichever is greater. No application fee. No closing costs. No annual fee. Paying only the minimum payment may not be sufficient to fully amortize unpaid account balance by the end of the repayment period in which case, you will be required to pay your entire remaining balance in a single balloon payment on the agreed maturity date.

Please contact your tax advisor to determine any tax benefits.

CSE FCU may discontinue or change program without notice.

A CSE Share Account must be opened and in good standing in order to disburse a loan.

All loans are subject to credit approval.

CSE is an Equal Housing Lender.

 

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