Fixed-Rate Home Equity Loans
A Fixed-Rate Home Equity Installment Loan is much like an auto loan in that you get the full amount at the start of the loan and pay it down in equal payments for the term you selected.
DCU's Fixed-Rate Home Equity Loans offer you...
- Low competitive fixed rates – Your actual rate is determined by your personal credit history
- Finance up to 80% of your home's value minus your first mortgage – (Maximum 80% in Texas by state law.)
- Loans from $5,000*
- Choose from 4 Terms – 5 years, 10 years, 15 years, and 20 years. A shorter loan term means a lower interest rate. A longer loan term will give you a smaller monthly payment.
- No pre-payment penalties
State mortgage taxes in FL, KS, MD, MN, NY, OK, TN, and VA.
* Please be aware that current market conditions may limit the amount of financing DCU can provide (examples: low property values, property located in a declining value area).
Fixed-rate Home Equity Loans are available in all 50 states.
Here's a side-by-side comparison of DCU's Home Equity Loan options to help you decide which is best for you.
| Major Features | Fixed- Rate Home Equity Loan | Equity LinePLUS |
|---|---|---|
| Type of Rate | Fixed for life of the loan. | Variable as low as Prime minus 1/4% on line advances. Same as Fixed-Rate Loans for fixed-rate advances |
| Maximum Loan Percentage of home value |
80% | 80% |
| Minimum Loan or Line | $5,000 | $5,000 for initial line and $5,000 for each fixed-rate advance |
| Available Terms Balance is Maintained | 5, 10, 15, and 20 year terms | 20 year draw / 20 year repayment on total loan. Fixed-rate advances for 5, 10, or 15 years |
| Annual Fees | None | None |
| Prepayment Penalties | None | None |
| Tax Advantage | Yes | Yes |
Apply for Home Equity Loans Apply Online or by calling 800.328.8797 (select 3). If you need additional information press 0 and ask to speak with one of our Mortgage Specialists.
Use our Loan Calculators to help you determine the loan financing and payment options that are best for you.
DCU Insurance offers insurance with the personal service you deserve. So whether you have Homeowners Insurance or need it, please give us an opportunity to provide you an insurance quote.
Remember that any insurance required as a condition of the extension of credit by the credit union need not be purchased from DCU Insurance but may, without effecting the approval of the application for credit, be purchased from an agent or insurance company of the member's choice. Insurance products are not deposits of Digital Federal Credit Union (DCU) and are not protected by the NCUA. They are not an obligation of or guaranteed by the credit union and may be subject to risk. Insurance is offered by DCU Financial Insurance Services, LLC, an affiliate of DCU. Business conducted with DCU Insurance is separate and distinct from any business conducted with the credit union. Any questions or concerns regarding this relationship may be addressed to the Office of Consumer Affairs.
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Digital Federal Credit Union
220 Donald Lynch Boulevard PO Box 9130 Marlborough, MA 01752-9130 508.263.6700 • 800.328.8797 |
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© 2010. Digital Federal Credit Union