Leverage Your Home Ownership to Pay for Major Expenses
If medical bills have piled up or if a home renovation project has gone over budget, you may want to tap into your home’s equity to finance those costs over time.
How Can I Use a Home Equity Loan or Home Equity Line of Credit?
- Finance a home improvement project
- Fund educational expenses
- Buy a car
- Pay for a wedding
- Pay medical bills
- Cover unexpected expenses
- And more...
Orlando Credit Union is #investinginU by Offering Two Options
Home Equity Loan
(HELOAN)
- Receive a lump sum and make regular payments over the loan term
- Different year terms available
- Competitive rates
Interest-Only Home Equity Line of Credit (HELOC)
- Works like a revolving line of credit secured by the equity in your home
- 10-year draw period (interest only)
- 15-year repayment period (principal and interest)
- Borrow up to 70% of your home’s value including existing mortgages
- Comes with a low variable rate tied to the prime lending rate**
- May be tax deductible2
Featured Rates
Home Equity Loan Rates
5, 10 or 15 Year Terms Available
APR as low as**
7.50%
Contact us for more information on our Home Equity loan rates.
Which Option is the Best for You?
To discuss a Home Equity Loan (HELOAN) or Home Equity Line of Credit (HELOC) and apply in-person, schedule an appointment at an Orlando Credit Union branch location near you or you can apply online.
Apply Now Schedule Appointment Contact Us for Rates
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Get a Home Equity Loan and Get Rewarded
With our Rewards Points Program, you can earn 1 point per $1,000 in average daily loan balances every month for your qualifying loan.^ Use your accumulated points for cash back, gift cards, and much more.
^Does not include credit cards, sold mortgages or business loans. Loans must be current to receive points for the month. Points will be forfeited if loan is not current, and points will not be reinstated.
**APR (Annual Percentage Rate) is based on creditworthiness and Loan-to-Value (LTV) ratio. Home Equity Lines of Credit (HELOC) are variable and based on the Wall Street Journal Prime Rate. Fixed rate option available. Rates and closing costs may vary based upon loan features or other terms and conditions. Additional adjustments may be applicable based upon credit history, property value, mortgage product, property type or other factors. The interest rate shown here are available to borrowers with an excellent credit history.
2Consult with a tax advisor for further information regarding the tax deductibility of interest and charges.
Offers are subject to credit union membership, credit approval and verification of information provided on application. The interest rates, APRs and closing costs are subject to change without notice. Fees vary depending on loan amount, interest rate, title required, insurance and taxes. Fees may range from $500 to $1,800 based on a general estimate.
NMLS #569755