Business Services > Equity Term Loans and Lines of Credit

Equity Term Loans and Equity Lines of Credit

Multi-family Home - Business Property
Office Building - Industrial Property

Equity Line of Credit | Equity Line of Credit Features

Equity Term Loan | Equity Term Loan Features

Just like you can borrow on the equity on your home, you can now borrow on the equity in your business or investment property.*
(MA, RI and NH investment properties only.)

Equity Line of Credit

A line of credit is great for capital improvement projects, additions, and any other major expense where you expect to see more than one bill. It's great for unexpected expenses such as repairs when you may not want to dip into your working capital.

DCU's Equity Line of Credit provides you with peace of mind as well as an additional source of funds. It can be used for any business purpose including...

Short Term Cash
Down Payment on Another Property
Rainy Day Fund

Equity Line of Credit Features

Borrow up to 70% of your property value (less your first mortgage balance)
Rates generally float at Prime + 1% to Prime + 3 %**
No Points
Low Closing costs***
Terms 10 Years
On-line transfers between your line and your checking account
$100 annual fee waived (provided line is used 30 days per year)
No Prepayment Penalties
Interest only option
Lines from $25,000 to $500,000
Lines greater than $500,000 call 508.804.9188
Applying: Use the QuickApp for Second Mortgage Commercial Real Estate Loans.

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Equity Term Loan

The rate on fixed-rate advances is set at the time of the advance based on your personal credit history and remains fixed until the entire advance has been repaid. With a Fixed-Rate Equity Installment Loan you get the full amount at the start of the loan and pay it down in equal payments for the term you selected. Talk to a DCU lending professional if you are constructing a new project, rehabilitating or repositioning an existing project, or funding working capital for your enterprise.

DCU's Equity Term loan provides you with an additional source of funds and it can be used for any business purpose including...

Consolidate Credit Cards or Other Loans
Use for Down Payment for Another Property
Buy Equipment or Vehicles

Equity Term Loan Features

Borrow up to 75% of your property value (less your first mortgage balance)
Rates fixed for up to 10 years**
No Points
Low Closing costs***
Term up to 10 years
No Prepayment Penalties
Lines from $25,000 to $500,000
Loans greater than $500,000 call 508.804.9188
Applying: Use the QuickApp for Second Mortgage Commercial Real Estate Loans.

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How to Apply

Print a QuickApp for Second Mortgage Commercial Real Estate Loans.

Fax the completed application and required documents to 508.804.3620, or drop it off at any DCU Branch. If you have any questions, call 508.804.9188.

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What to Expect

A commercial loan officer will contact you within one business day after we receive your completed forms to discuss your request.

Prior to closing we may look for the property to comply with Environmental Laws, Lead Paint Laws, Smoke Alarm and Fire regulations. Also we would expect the property to be sufficiently maintained with no structural issues.

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*Second mortgages only.

**The interest rate is determined by numerous factors including personal credit history, financial strength of the principals, experience of management, LTV (loan to value), NOI (net operating income), and the type and condition of the property.

***Prior to closing we may look for the property to comply with Environmental Laws, Lead Paint Laws, Smoke Alarm and Fire regulations. Also we would expect the property to be sufficient maintained with no structural issues. The closing cost quoted will be for standard transactions. Closing costs quoted may change at any time. If additional work is required, additional fees may be charged. Some reasons for additional fees will be if there are title defects that need corrections, there are environmental issues with the property, out of the ordinary legal work needs to be done, or for loans over $100,000 the value cannot be determined and an appraisal is required.
DCU will outline all the closing costs to you, if the loan is approved, prior to closing. Prepaid interest, taxes, insurance, borrower's attorney and brokers fees, and other borrower incurred costs, if any, will always be the borrower's payment responsibility.

Please visit our Business Applications and Forms page to access all of our QuickApps and business forms.

Digital Federal Credit Union
220 Donald Lynch Boulevard
PO Box 9130
Marlborough, MA 01752-9130
508.263.6700 • 800.328.8797