You’ve been building the equity in your home and now it’s time to put that equity to work for you. We offer competitive home equity products, which are secured by a mortgage on your home. The proceeds may be used for home improvements, debt consolidation, college tuition, vacations – it’s entirely up to you!
Home Equity Line of Credit
A revolving credit line that may be accessed by simply writing a check. You may borrow up to 80% of the value of your property minus the outstanding balance of the 1st mortgage.
Initial rate of 2.99% APR is for 12 months. Then, monthly adjustable rate equal to Prime Rate thereafter. Prime Rate is currently 4.75% APR. Maximum rate is 15% APR. Closing costs are $205.00. Homeowners insurance on the property securing the line is required.
Advantage Home Equity Line of Credit
SCU’s Advantage Home Equity Line of Credit will give you more flexibility than a traditional home equity line of credit can provide. It allows you to borrow up to 100% of your home’s value! You can draw from this flexible line of credit, as you need it. With a home equity credit line, borrow the amount you need, when you need it.
Home Equity Loan
The security of a fixed-rate monthly payment loan with a one-time disbursement of funds. You may borrow up to 80% of the appraised value of your property minus the outstanding balance of the 1st mortgage.
Advantage Home Equity Loan
With SCU’s Advantage Home Equity Loan — it allows you to borrow up to 100% of your home’s value! There is no application fee and you receive the money you need right now, with fixed regular monthly payments, giving you more flexibility than what a traditional home equity loan can provide.