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Home Equity Loans/LinesLet Your Home Work For You!
There is more than one way to put your home's equity to work for you. With low interest rates, and interest charges that may be tax-deductible*, drawing on the equity in your home may be one of the smartest ways to get the money you need. So whether you're remodeling, paying down high-interest debt, or making a large purchase, a home equity product from BCCU will meet your needs!
Home Equity Line-of-Credit
A home equity line-of-credit from BCCU provides access to a revolving line of credit whenever you need it simply by writing a check! You can access your line for up to 10 years and pay interest only on the amount you've used. If you don't use the line, you don't have any payments to make, and as you pay down the line, your payments will also adjust. You may borrow up to 80% of the value of your home, minus any balance on the existing mortgage(s). A BCCU equity line has no annual fees, no closing costsExpenses incidental to the purchase, sale, and financing of real estate, including, but not limited to title fees and appraisal fees.**, and includes the option of making affordable interest-only payments.
BCCU EquityPlus Home Equity Line of Credit
Need to borrow more than the 80% allowed with the regular Line of Credit? With a BCCU EquityPlus credit line, you may borrow up to 100% of the value of your home, less any mortgage balances. Your line can be accessed for up to five years just by writing a check and as with the regular Line of Credit, there are no closing costsExpenses incidental to the purchase, sale, and financing of real estate, including, but not limited to title fees and appraisal fees.** or annual fees.
Home Equity Loan
A home equity loan disburses all of the funds at once and provides the stability of fixed monthly payments. This is a great option for a one time expense such as home improvements, or large purchases. With BCCU's low rates this could be another great option to meet your needs. Apply today!
* Finance charges may be deductible from your taxable income, but please consult your tax advisor for details.
**Loans without a first mortgage will require title insurance and partial legal fees paid by member.
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 | | | | Our Rates as of May 13 | | | | | | | APR: As low as 4.99% Fixed for 36 months, then prime - 1/2%, thereafter (Variable) | | | | | | | | APR: As low as Prime - 1/2% (Variable) | | | | | | | | APR: As low as Prime + 1.5% (Variable) | | | | | | | |
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