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Home Equity Loans
Home Equity Loans at EECU – A Community Credit Union will help you feel more secure about your borrowing decisions and your future. As a qualified Michigan homeowner, you can use your home's equity to finance virtually anything, including home improvement projects, debt consolidation, family vacations, college tuition and much more!
Home Equity Line-of-Credit
- Generous credit limits for qualified members
- Variable rate line-of-credit
- APR* set as low as 1/4% below prime rate, maximum rate of 18% APR*
- Interest only payments
- Access funds as often as you wish for up to 7 years
- Borrow up to 80% of your home's equity
- Funds available 3 days after closing
- Interest may be tax deductible**
- Make balance inquiries, obtain payment information, transfer loan payments or get loan advances through EECU’s FREE Online Banking program
Home Equity Fixed-Term Loan
- Generous loan amounts for qualified members
- Low, fixed rates with terms for 5, 10 and 15 years
- Borrow up to 80% of your home's equity
- Funds available 3 days after closing
- Interest may be tax deductible**
- Make balance inquiries, obtain payment information or transfer loan payments through EECU's FREE Online Banking program
*APR=Annual Percentage Rate. **Consult with your tax advisor.
What information should I bring to my appointment?
- Legal description of property from deed or title insurance
- Recent appraisal and property tax statement disclosing SEV
- Current income verification
What is required at the closing of my loan?
- Driver’s license
- Copy of homeowner’s insurance policy adding EECU as an additional loss payee
Please see our current rates page for our up-to-date interest rates. For more information, contact a Member Service Representative at 517.787.2060 or 877.894.5033, or click below to apply today!
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