Home Equity

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 1.99% APR is for 12 months. Then, monthly adjustable rate equal to Prime Rate thereafter. Prime Rate is currently 3.25% 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.

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