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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 may be able to lower your rates and get a low monthly payment.

Access the equity in your home

When you have equity in your home, you have options. You can use that equity to pay for home improvement projects, college tuition or debt consolidation..

Home Equity Line of Credit

A Home Equity Line of Credit allows you to borrow money for up to 10 years from the equity you have in your home any time you need it. Plus, you'll have up to 10 years to repay the balance. Your monthly payment is based only on the amount being used.1 Here are some other great features of our Home Equity Line of Credit:
  • No closing costs2
  • Credit line up to $250,000
  • Financing options up to 90% of your home's appraised value3
  • Possible tax benefits4

Fixed Home Equity Loans

With a Fixed Home Equity Loan you can take advantage of the equity in your home to pay for a large, one-time expense such as a home improvement project or debt consolidation.5

  • No closing costs2
  • Borrow up to $250,000
  • Financing options up to 90% of your home's appraised value3
  • Flexible repayment terms: Up to 15 years
  • Possible tax benefits4

1 Payments are based only on the amount being used with a minimum payment of 1.50% of the outstanding month-end balance.
2 An initial advance of $10,000 is required at closing. In addition, the line of credit must remain open for 36 months. Loans paid off and closed in less than three years from the loan origination date will require reimbursement of all closing costs paid by EP Federal Credit Union.
3 Loans subject to credit qualifications and approval. All applicants must meet membership eligibility requirements. Rates subject to change without notice. Some restrictions may apply to loan to value financing amount. Property insurance is required.
4 Consult your tax advisor to determine whether the interest is tax deductible.
5 Fixed rate, closed-end loan with one-time disbursement.

Home Equity Loan Rates

Effective Jun 1, 2019Print

Loan Type Term Margin APR* Financing Information Est. Monthly Payment
Home Equity Line of Credit Open-end -0.25 5.25% Variable Rate; Maximum Rate 18% APR* $15.00/per $1,000 Borrowed
Home Equity Loan†† Up to 10 Years 5.00% Fixed $10,000 - $250,000 $530.33 for $50,000 over 120 months
Home Equity Loan†† Up to 15 Years 5.25% Fixed $10,000 - $250,000 $401.94 for $50,000 over 180 months
*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. Not all applicants will qualify for the lowest rate. 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. Estimate of closing costs on an $80,000 Home Equity Loan are $1,500. 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 Wall Street Journal Prime Rate (currently 5.50% as of 4/26/2019) plus/minus any applicable margin. 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.

†††You must be eligible for membership in EP Federal Credit Union in order for your loan application to be considered. See https://www.epfcu.org/membership/how-to-join.aspx#whocanjoin for eligibility requirements.

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