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Home Equity Loans and Lines

FMFCU's Home Equity Loans and Lines can make your home improvements a breeze! Not making improvements? Then use the money for bill consolidation or buying a car. Check out each option below. If you have questions about which loan is right for you, call us or stop in your local branch.

Home Equity Loan

Put the equity in your home to work for you with an FMFCU Home Equity Loan*. If you know the exact amount you need, our Home Equity Loans are just right for you! Do you have a Home Equity Loan somewhere else? You could possibly lower your rate by transferring it to FMFCU.

  • Use for home improvements or debt consolidation
  • Financing up to 90% loan-to-value
  • Terms up to 240 months
  • Potential tax advantages (consult your tax advisor)
  • Fixed rates, fixed payments
  • Can be collateralized by owner and non-owner occupied
  • FAQs
  • Calculate Payment

Home Equity Line of Credit

With an FMFCU Home Equity Line of Credit (HELOC), you can borrow just what you need, when you need it, and only pay interest on what you borrow.
  • Special introductory rate of 1.99% APR for the first six months for lines up to 80% loan-to-value**
  • Low interest only payments
  • Use for home improvements or debt consolidation
  • Financing up to 90% loan-to-value
  • 10-year draw period
  • Potential tax advantages (consult your tax advisor)
  • HELOC convenience checks
  • Allows for recurring advances, paying only on what is borrowed
  • No cash advance fees
  • Rates as low as Prime plus 0% (as published in the Wall Street Journal)
  • $50 annual fee waived in the first year
  • FAQs

*Membership eligibility applies. Owner occupancy required. Flood insurance may be required. Title insurance required for home equity loans over $250,000. Consult a tax advisor for further information regarding deductibility of interest. This offer may be withdrawn at any time and is for new home equity loans only.

**1.99% Annual Percentage Rate (APR) is accurate as of 7/14/14 and fixed for six calendar months after account opening. The APR adjusts on the first day of the month. As of 7/14/14, Prime Rate is 3.25%. Maximum rate is 18%, with a floor rate of Wall Street Journal Prime. Minimum line of credit amount $10,000. Membership eligibility applies. Owner occupancy required. Flood insurance may be required. Title insurance required for lines of credit over $250,000. Consult a tax advisor for further information regarding deductibility of interest. This offer may be withdrawn at any time and is for new lines of credit only.
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