Home Equity and Second Mortgages

You've already invested in your home. It's time your home returned the favor. With a Home Equity Loan from Essential FCU, you will be able to get cash out of your home to consolidate your debts, fund a home improvement project, or for any purpose. You could get up to 95% of the value of your home!

HOME EQUITY LINE OF CREDIT

  • Borrow up to 95% of the value of your home
  • Credit Limit of up to $100,0003
  • Minimum loan amount $15,000
  • No Prepayment Penalties
  • Interest rate is based off the current prime rate, minus .15 with a minimum floor rate of 5.50%5
  • Free Online Banking and Bill Payer
  • Interest may be tax deductible4

SECOND MORTGAGE LOAN

  • Low fixed rates with a variety of terms (up to 20 years)*
  • Borrow up to 95% of the value of your home2
  • Free ePAL Home Banking and Bill Payer
  • Interest may be tax deductible4

Quick and easy application process
Apply Now, get pre-approved, check rates or call us at 888.369.2207phone icon.

2Second Mortgage: Essential FCU will lend up to 95% of the value of the home.
3Home Equity Line of Credit: Essential FCU will lend up to $100,000. Depending on the Loan-To-Value of the home.
4Consult a professional tax advisor.
5The Annual Percentage Yield (APY) for a Home Equity Line of Credit is .15% below Prime with a floor of 5.5%; The APY for Second Mortgages are determined by creditworthiness.