Home Equity Loans

If you are a home owner and have built up some equity in your home (the difference between what you owe on the home and what your home is worth), you can put this equity to work for you by borrowing against that equity to pay for things like remodeling, wedding expenses, educational expenses or the consolidation of several debts. The amount members can borrow depends on two major items, the ability to repay and the equity in your home. For example, a member may be able to borrow up to 80% of the appraised value of their home minus any outstanding first mortgage balance.

The following is an example of how this works:
Appraised value $150,000
Multiply by x .80
  $120,000
Minus 1st mortgage $70,000
Maximum line of credit $50,000

There are two major benefits to this type of borrowing. Because the loan is secured by your home, the interest rate that is charged for this type of loan may be less than that of other consumer loans. As well, often times, the loan interest paid on this debt is tax deductible on your income taxes where interest paid on other types of loans like personal loans, credit cards or auto loans are not.

Fixed Rate Home Equity or 2nd Mortgage
80% Loan to Value (LTV) 2.39% 1-5 Years
80% Loan to Value (LTV) 3.49% 5-10 Years
80% Loan to Value (LTV) 6.25% 15 Years
80% Loan to Value (LTV) 6.50% 20 Years
HELOC (Home Equity Line of Credit) - Variable Rates: (Club 75 Excluded)
70% Loan to Value (LTV) Prime Rate* (Currently 3.25%) 5.00% is the floor 

* APR = Annual Percentage Rate
Rates are subject to change.

The above rates are for members who are Club 75 Platinum Level
Gold Level 25 Basis Points Lower from the Rate
Silver Level 50 Basis Points Lower from the Rate
Not Club 75 Member 75 Basis Points Lower from the Rate

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