Home Equity Loans
Looking to purchase that big ticket item? The funds you need may be right in your own back yard — or closer! Many of our satisfied members have used home equity loans for the following:
- College tuition
- Automobile purchase
- Home improvement
- Vacation
- Pay off higher rate loans
Freedom Credit Union offers two kinds of Home Equity Loans to meet your borrowing needs:
Home Equity Line of Credit
Put the equity in your home to work for you with a revolving line of credit.
- Borrow up to 75% of the equity in your home minus first mortgage balance
- May be tax deductible*
- Variable rates
- Pay only the recording fee to close
- Check Rates
Fixed Rate Home Equity Loan
For people who want the security of a fixed rate and a one time disbursement of funds
- Borrow up to 75% of the equity in your home minus first mortgage balance
- Rate is fixed for the life of the loan
- No closing costs or application fees
- Minimum loan amount $20,000
- May be tax deductible*
- Check Rates
*Check with your tax advisor
