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If you own your home, your best loan might be right under your roof.

Your equity may surprise you. In case you haven’t noticed, home values have been back on the rise. You may have more equity in your home than you thought! If you see big expenses on the horizon, it may be time to put your equity to work.

You can also use your home equity loan or line of credit to provide the funds to consolidate bills and get your financial house in order. Roll multiple high-rate loans into one monthly payment. You'll lower your rates and get a low monthly payment.

Home Equity Line of Credit

  • Rates as low as 4.00% APR*
  • Credit line up to $250,000
  • No closing costs
  • Fixed payments — always just $10/$1,000
  • Tax-deductible interest (ask your tax adviser if you’re eligible)

We can set you up with a line good for 80-90% of your home’s appraised value minus your remaining mortgage balance — up to a limit of $250,000. Whatever amount you’re approved for, you’ll only pay interest on what you actually use, and your available line is replenished as you make payments. Your rate will be variable, but always competitive, and your payments will be fixed at $10/$1000 borrowed.

You may draw on your Home Equity Line of Credit for up to 10 years, but your repayment term will be up to 15 years. At the end of your term, you can either repay the loan in full or refinance.

Home Equity Loans

If you know you'll need a single disbursement of funds, a home equity loan might better suit your needs.

  • Rates as low as 5.99% Fixed APR*
  • Borrow up to $100,000
  • No closing costs
  • Tax-deductible interest (ask your tax adviser if you’re eligible)

Unlike a line of credit, the rate for the Home Equity Loan is fixed and you can choose a 5- or 10-year repayment term. Borrow up to 80-90% of your home’s appraised value minus your remaining mortgage balance — up to a limit of $100,000.

Home Equity Lending Rates

Effective Apr 1, 2018Print

Loan Type Term APR* Financing Information Estimated Payment
Home Equity Loan† Up to 120 Months 6.99% Fixed $50,001 - $100,000 $696.23 for $60,000 over 120 months
Home Equity Loan†† Up to 60 Months 5.99% Fixed $10,000 - $50,000 $966.20 for $50,000 over 60 months
Home Equity Line of Credit†† Open-end 4.00% Variable Rate; Maximum Rate 18% APR*
*As low as. APR=Annual Percentage Rate. Actual rate may vary, is subject to change without notice and is based on applicant’s credit score. Loans are made only on personal residences within 150 mile radius of our main office. Property insurance required. Credit Union pays all closing costs. Repayment of closing cost required if loan is paid off within three years. The interest you pay may be tax deductible. Ask your tax adviser if you are eligible. Other restrictions may apply.
†Home Equity Line of credit is variable rate, open-end loan. Rate is indexed to the US Treasury 5 Year Constant Maturity + 1%. Not all applicants will qualify for lowest rate. Minimum loan is $10,000.
††Home Equity Loan is a fixed rate, closed-end loan with one-time disbursement.

Get started today:

EPFCU Home Equity lending products are available to members with property located within 150-mile radius of Main Office located at 13th & C Streets, SW, Washington, DC 20228. Contact us to confirm your property's eligibility.