Home Equity Loans
Right now may be the best time to get a Home Equity Line of Credit or Home Equity Fixed Rate/Fixed Term Loan.
And SRP Federal Credit Union is the best place to get it. With competitive rates, what better time to add value to your house with a Home Equity loan that can be used for new additions, remodeling, or repairs. You can use the money for a college education, a new car, or that dream vacation. It's your money.
Interest Only Home Equity Line of Credit (HELOC)
Similar to credit cards, a HELOC is a line of credit that is secured by the equity you have in your home. You can borrow the funds, repay it, and borrow again up to your credit line limit during your draw period.
Advantages:
- Preapproved line of credit
- Secured by your home
- Convenient ways to access your cash: SRP Mobile App, SRP Online Banking, Access Checks, or by visiting a branch
- Interest paid may be tax deductible (see your tax advisor)
- Up to 80% loan-to-value financing available
Home Equity Fixed Rate/Fixed Term
This is a closed-end, fixed rate/fixed term loan secured by the equity in your primary residence or vacation home. The funds can be used for a variety of purposes including debt consolidation, college tuition, home improvement or any other consumer purpose!
Loan terms and conditions are based on credit qualifications and approval. All credit union loan programs, rates, terms, and conditions are subject to change at any time without notice. Other restrictions may apply. NMLS number 612441. Equal Housing Lender.
