Sometimes, time passes, and you haven’t had a chance to save up for things you need or want: college for your kids, a remodeled kitchen, or even a dream vacation. It may be time to put the equity in your home to work for you.
HOME EQUITY LINES OF CREDIT (HELOC)
Freedom’s low-rate HELOC offers you funds when you need them. It gives you a revolving line of credit that replenishes as you pay down your outstanding balance:
- Financing available up to 80% Combined Loan to Value (CLTV) on 1-4 family owner occupied properties
- Financing available up to 100% CLTV on 1-2 family owner occupied properties
- No closing costs or application fee. Discharge fee, if applicable, paid by the borrower(s)
- Minimum loan amount of $10,000, maximum loan amount $500,000 ($250,000 maximum for 100% CLTV product)
- 10 year draw period with a 10 year repayment period
- Property and casualty insurance required
- Flood insurance required if property is located in a flood zone
FIXED RATE HOME EQUITY LOANS
For members who want the security of a low, fixed rate, and a one-time disbursement of funds, we offer our Fixed Rate Home Equity Loans:
- Financing available up to 80% Combined Loan to Value (CLTV) on 1-4 family owner occupied properties
- Financing available up to 100% CLTV on 1-2 family owner occupied properties
- No closing costs or application fee. Discharge fee, if applicable, paid by borrower(s)
- Minimum loan amount of $10,000, maximum loan amount $500,000 ($250,000 maximum on 100% CLTV product)
- Property and casualty insurance required
- Flood insurance required if property is located in a flood zone