Home Equity LoanGet the funds you need for a large expense – such as a major home improvement – or consolidate debt.Features & BenefitsOne lump sum when you get the loanFixed monthly paymentFixed monthly rateBest rate for repayment by automatic transfer from your checkingInterest charged on full loan amount Application checklist Apply nowRates as low as 7.00%APRAs low as 7.00% APR 11 Rate effective as of 9/28/2023. Your APR will be determined based on our internal credit criteria. Listed APRs are based on a loan to value of 70% or less, assume an excellent credit rating, and for Equity Loan include a .50% discount for repaying by an automated payment method approved by us. Property insurance required. If account is closed or paid off within 36 months of opening it, you will pay a reimbursement fee equal to the amount of closing costs originally paid by VACU. Minimum and maximum loan or credit limits apply. Please contact us for specific term options and rates.Terms up to20 yrsAvailable in terms of 5, 10, 15 or 20 yearsHome Equity Line of CreditGain flexibility with recurring expenses, including home renovations or education-related costs.Features & BenefitsUse as needed, up to approved credit limitVariable monthly paymentVariable monthly rateInterest charged only on outstanding balance Application checklist Apply nowIntro rate for first 12 months 5.49% APR2After that the APR can range from 8.50% to 18.00% APR based on the Prime Rate and other criteria.2 5.49% APR valid for 12 months from account opening and after that APR may vary. Listed APR range is current based on Prime Rate as of 9/28/2023 and APR will never be more than 18%. Your qualifying APR is determined based on our internal credit criteria, loan to value (LTV), credit rating and other factors. LTV may not exceed 90%. Property insurance is required. If account is closed or paid off within 36 months of opening it, you will pay a reimbursement fee equal to the amount of closing costs originally paid by VACU. Minimum loan amount is $20,000. Contact us for other options, current rates and information.Draw & repayment periods of10 yrsComes with a 10-year draw period and 10-year repayment period. Compare Home Equity Options Attribute to CompareHome Equity LoanHome Equity Line of CreditBest for Best forLarge expenses, like a major home improvement,or you want to consolidate debt Best forRecurring expenses, such as home renovationor home improvement costsAccess to funds Access to fundsOne lump sum when you get the loan Access to fundsUse as needed, up to an approved credit limitMonthly payment Monthly paymentFixed amount Monthly paymentVariable amountClosing costs Closing costs$0 Closing costs$0Interest rate Interest rateAs low as 7.00% APR1 fixed rate1 Rate effective as of 9/28/2023. Your APR will be determined based on our internal credit criteria. Listed APRs are based on a loan to value of 70% or less, assume an excellent credit rating, and for Equity Loan include a .50% discount for repaying by an automated payment method approved by us. Property insurance required. If account is closed or paid off within 36 months of opening it, you will pay a reimbursement fee equal to the amount of closing costs originally paid by VACU. Minimum and maximum loan or credit limits apply. Please contact us for specific term options and rates. Interest rateIntroductory rate of 5.49% APR1 for the first 12 months and then after that, a variable rate ranging from 8.50% – 18.00% APR based on the Prime Rate and other criteria 1 5.49% APR valid for 12 months from account opening and after that APR may vary. Listed APR range is current based on Prime Rate as of 9/28/2023 and APR will never be more than 18%. Your qualifying APR is determined based on our internal credit criteria, loan to value (LTV), credit rating and other factors. LTV may not exceed 90%. Property insurance is required. If account is closed or paid off within 36 months of opening it, you will pay a reimbursement fee equal to the amount of closing costs originally paid by VACU. Minimum loan amount is $20,000. Contact us for other options, current rates and information.Interest charged Interest chargedOn the full loan amount Interest chargedOnly on the outstanding balanceLoan amounts Loan amountsBorrow up to 90% of the appraised value of your home, less the balance of your first mortgage, from $20,000 to $100,000; up to 85% for loan amounts from $100,000 to $175,000; up to 80% for loan amounts over $175,000.1 1 For a secondary residence borrow up to 70% of the appraised value of the home, less the balance of the first mortgage, from $20,000 to $50,000. Loan amountsBorrow up to 90% of the appraised value of your home, less the balance of your first mortgage, from $20,000 to $100,000; up to 85% for loan amounts from $100,000 to $175,000; up to 80% for loan amounts over $175,000.1 1 For a secondary residence borrow up to 70% of the appraised value of the home, less the balance of the first mortgage, from $20,000 to $50,000.Terms available Terms available5, 10, 15 or 20 years Terms available10-year draw period and 10-year repayment periodHome Equity Loan Resources See More Resources Home Equity FAQsFrequently asked questions about home equity loans. Home Improvements that Pay OffWhat improvements will increase your home value when selling your house? Check out our list of easy home updates that will help your home stand out when buyers tour your house.
Compare Home Equity Options Attribute to CompareHome Equity LoanHome Equity Line of CreditBest for Best forLarge expenses, like a major home improvement,or you want to consolidate debt Best forRecurring expenses, such as home renovationor home improvement costsAccess to funds Access to fundsOne lump sum when you get the loan Access to fundsUse as needed, up to an approved credit limitMonthly payment Monthly paymentFixed amount Monthly paymentVariable amountClosing costs Closing costs$0 Closing costs$0Interest rate Interest rateAs low as 7.00% APR1 fixed rate1 Rate effective as of 9/28/2023. Your APR will be determined based on our internal credit criteria. Listed APRs are based on a loan to value of 70% or less, assume an excellent credit rating, and for Equity Loan include a .50% discount for repaying by an automated payment method approved by us. Property insurance required. If account is closed or paid off within 36 months of opening it, you will pay a reimbursement fee equal to the amount of closing costs originally paid by VACU. Minimum and maximum loan or credit limits apply. Please contact us for specific term options and rates. Interest rateIntroductory rate of 5.49% APR1 for the first 12 months and then after that, a variable rate ranging from 8.50% – 18.00% APR based on the Prime Rate and other criteria 1 5.49% APR valid for 12 months from account opening and after that APR may vary. Listed APR range is current based on Prime Rate as of 9/28/2023 and APR will never be more than 18%. Your qualifying APR is determined based on our internal credit criteria, loan to value (LTV), credit rating and other factors. LTV may not exceed 90%. Property insurance is required. If account is closed or paid off within 36 months of opening it, you will pay a reimbursement fee equal to the amount of closing costs originally paid by VACU. Minimum loan amount is $20,000. Contact us for other options, current rates and information.Interest charged Interest chargedOn the full loan amount Interest chargedOnly on the outstanding balanceLoan amounts Loan amountsBorrow up to 90% of the appraised value of your home, less the balance of your first mortgage, from $20,000 to $100,000; up to 85% for loan amounts from $100,000 to $175,000; up to 80% for loan amounts over $175,000.1 1 For a secondary residence borrow up to 70% of the appraised value of the home, less the balance of the first mortgage, from $20,000 to $50,000. Loan amountsBorrow up to 90% of the appraised value of your home, less the balance of your first mortgage, from $20,000 to $100,000; up to 85% for loan amounts from $100,000 to $175,000; up to 80% for loan amounts over $175,000.1 1 For a secondary residence borrow up to 70% of the appraised value of the home, less the balance of the first mortgage, from $20,000 to $50,000.Terms available Terms available5, 10, 15 or 20 years Terms available10-year draw period and 10-year repayment period
Home Improvements that Pay OffWhat improvements will increase your home value when selling your house? Check out our list of easy home updates that will help your home stand out when buyers tour your house.