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A Home Equity could finance a large expense or ongoing project. Choose from our fixed and variable Home Equity lending solutions.

Home Equity Line of Credit

A home equity line of credit allows you to borrow money against your home and withdraw the funds when you need them.

  • Convenient, flexible and low cost
  • Competitive rates with repayment terms up to 180 months
  • Access your funds using a convenience check, by requesting a deposit to your share or checking account, or by taking an advance at any branch
  • No points or application fees charged
  • Available for up to 100% of the appraised value of your home after deducting the balance of any existing liens
  • The Credit Union will pay closing costs when an advance or balance transfer of $10,000 or more is taken at settlement

Home Equity Line of Credit Rates
Effective Dec 1, 2018
Description Term APR* as low as
Home Equity Line of Credit LTV up to 80% Up to 15 yr 5.25%
Home Equity Line of Credit LTV 81% to 90% Up to 15 yr 6.25%
Home Equity Line of Credit LTV 91% to 100% Up to 15 yr 8.25%
LTV = Loan-to-Value ratio
*APR=Annual Percentage Rate. Subject to creditworthiness. Variable rate tied to Wall Street Journal Prime Rate, which may adjust monthly.The prime rate as of September 25, 2018 is 5.25%. The rate floor for all home equity lines of credit is 3.25% APR. Minimum loan amount is $10,000.

Closing costs paid on HELOCs when an advance or balance transfer of $10,000 or more is taken at settlement. If the loan is paid off or the account is closed within 90 days, closing costs must be paid back to Securityplus FCU.

Home Equity Loan

Home equity loans are a convenient and affordable way to pay for a variety of projects and endeavors. And since these loan rates are fixed, you can go to settlement with confidence that your re-payment terms will remain constant for the life of the loan.

  • Fixed-rate security
  • Convenient, affordable repayment terms
  • Competitive rates
  • No points or application fees charged
  • Available for up to a maximum of $200,000 or up to 85% of the appraised value of your home after deducting the balance of any existing liens
  • 2 closing cost options
    Option 1 - Credit Union pays all closing costs; minimum loan amount is $25,000
    Option 2 - Member pays all closing costs; minimum loan amount is $10,000; may receive a lower interest rate on loan

Home Equity Loan Rates
Effective Dec 1, 2018
Description Term APR* as low as No Closing Costs APR* as low as
Up to 85% LTV – $10,000 Min. 5 yr 4.50% 6.00%
Up to 85% LTV – $10,000 Min. 10 yr 6.00% 7.00%
Up to 85% LTV – $10,000 Min. 15 yr 6.50% 7.25%
LTV = Loan-to-Value ratio
Choose a lower rate and pay your own closing costs or choose a higher rate with no closing costs.
*APR=Annual Percentage Rate. Subject to creditworthiness. This is a fixed rate loan. Minimum loan amount is $10,000.

Lawrence A.
Lawrence A.

"I had a great experience. Thank you for your services."

Over the last four months I have done a home equity loan and opened a new checking account. I had a great experience. Thank you for your services.

Ready to Put Your Equity to Work?
Have questions? Contact Us
 
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If you live, work, worship, or go to school in the City of Baltimore; are employed by or retired from SSA or CMS; or are in the immediate family of an existing member, you are eligible to join Securityplus Federal Credit Union.
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