A home equity loan may be an excellent way to utilize the equity in your home for a variety of reasons. It may be utilized to finance:
- Educational Expenses
- Major purchases such as a boat, car, second home, or once in a lifetime vacation
- Unexpected major medical expenses
- Consolidate high finance charge debts into a lower interest rate loan
Get a better Home Equity or HELOC rate when you have your first mortgage with us! To compare rates click on "Premier Home Equity or HELOC" vs. "Preferred Home Equity or HELOC" on the side.
Please use the Home Equity Process to learn more about obtaining a home equity loan.
Our Loan Consultant can find the home equity loan that's right for you and give you quotes on current interest rates and closing costs. Or select the specific home equity loan program that interests you to learn more about our various loan programs.
DCCU's Premier Home Equity Plus- 80%-1st with DCCU
| Best Choice If: Your first mortgage is with DCCU.
You want a line of
credit with extended advance options and a longer payment term.
You want the convenience of having funds available and ability to convert to a fixed rate at any time.
| Advantages: 20 year draw period with an additional 15 year repayment period.
Interest begins to accrue with 1st advance.
Principal can be reused as payments are paid.
Interest rate and payments that may adjust down with market movements.
No fees, excluding appraisals, with a minimum $10,000 line of credit.
Streamlined application for fast approval.
Convert from Variable Rate to a 5 or 10 Year Fixed Rate at any time.
One time closing for the life of the product. | Disadvantages:Variable rate may rise over time.
|
DCCU's Premier Home Equity Plus- 90%-1st with DCCU
| Best Choice If: Your first mortgage is with DCCU.
You want a line of
credit with extended advance options and a longer payment term.
You want the convenience of having funds available and ability to convert to a fixed rate at any time.
| Advantages: 20 year draw period with an additional 15 year repayment period.
Interest begins to accrue with 1st advance.
Principal can be reused as payments are paid.
Interest rate and payments that may adjust down with market movements.
No fees, excluding appraisals, with a minimum $10,000 line of credit.
Streamlined application for fast approval.
Convert from Variable Rate to a 5 or 10 Year Fixed Rate at any time.
One time closing for the life of the product . | Disadvantages:Variable rate may rise over time.
|
DCCU's Preferred Home Equity Plus - 80%
| Best Choice If: Your first mortgage is with a lender other than DCCU.
You want a line of credit with extended advance options and a longer payment term.
You want the convenience of having funds available and ability to convert to a fixed rate at any time.
| Advantages: 20 year draw period with an additional 15 year repayment period.
Interest begins to accrue with 1st advance.
Principal can be reused as payments are paid.
Interest rate and payments that may adjust down with market movements.
No fees, excluding appraisals, with a minimum $10,000 line of credit.
Streamlined application for fast approval.
Convert from Variable Rate to a 5 or 10 Year Fixed Rate at any time.
One time closing for the life of the product. | Disadvantages: Variable rate may rise over time.
|
DCCU's Preferred Home Equity Plus - 90%
| Best Choice If: Your first mortgage is with a lender other than DCCU.
You want a line of credit with extended advance options and a longer payment term.
You want the convenience of having funds available and ability to convert to a fixed rate at any time.
| Advantages: 20 year draw period with an additional 15 year repayment period.
Interest begins to accrue with 1st advance.
Principal can be reused as payments are paid.
Interest rate and payments that may adjust down with market movements.
No fees, excluding appraisals, with a minimum $10,000 line of credit.
Streamlined application for fast approval.
Convert from Variable Rate to a 5 or 10 Year Fixed Rate at any time.
One time closing for the life of the product. | Disadvantages:Variable rate may rise over time.
|
