Home Equity Loans
We call our Second Mortgages Home Equity Loans because you are tapping into the equity you've accumulated, but these loans are also known as second mortgages and home improvement loans. FCCU loans up to 90% of your home's value for any purpose - home improvement, debt consolidation, college expenses, vacation, etc.
- We pay all closing costs
- Interest rates are fixed for term of loan
- Establish both a home equity loan and line of credit if you need some money now, and some later
- Use up to 90% of your home's equity
- Good on Primary Residences, Second or Vacation homes located in Florida or Georgia.
- Maximum loan amount of $500,000
Current Rates
Home Equity Closed End (Only offered on 2nd lien positions)
| Terms | Other | Annual Percentage Rate | Payment per $1000 Borrowed |
|---|---|---|---|
| 5 years or less | Up to 90% of market value | 6.74% - 15% | $19.38 - $23.79 |
| 10 years or less | Up to 90% of market value | 7.09% - 16.5% | $11.66 - $17.07 |
| 15 or 20 years or less | Up to 90% of market value - $40,000+ Minimum Loan Total | 7.49% - 18% | $9.27 - $15.44 |
Disclaimer
Loan amounts range from $5,000 to $500,000, and your rate is based on what percentage of your home's equity is being used and a review of your credit application. FCCU pays all closing costs. Florida and Georgia Properties only. Call a financial services officer for details. The rates posted above represent the rate the majority of our members will receive. However, our rates actually range from 6.7% on 5 years or less to 18.00% for loans 15 years and longer. The rate you receive will be determined after a review of your individual situation. Minimum loan amount of $40,000 is required to exceed a 15 year term.
