Home Equity Loans & Fixed Rate 2nd Mortgages

Turn Your Home Into a Liquid Asset Without Selling. You May Get a Tax Shelter Too!

For most people, their home is their biggest asset with years of accumulated value. But, it's a fixed asset. A 2nd Mortgage or Home Equity Loan lets you borrow and utilize the equity in your home as collateral. That turns your fixed asset into cash which you can use for lots of worthwhile purposes.

Begin the process online through our Home Finance Center - Home Equity Loans.

You'll also get the biggest allowable deductions for interest payments when you finance with a 2nd Mortgage or Home Equity Loan. Both federal and state tax laws allow deductions for interest payments on real estate loans. Depending on your individual circumstances, your finance charges could be totally, or partially deductible. Finance charges on most types of loans are not tax deductible. So, a 2nd Mortgage or Home Equity Loan may be a tax advantaged way to finance many consumer purchases besides major home improvements, like:

• New & Used Cars & Trucks
• New & Used Boats & RVs
• Furniture, Wallcoverings & Flooring
• Pools & Spas
• Home Entertainment
• Travel
• Higher Education
• Debt Consolidation of Other Non-Deductible Loans

besides:

• Additions
• Remodeling
• Roofing, Siding & Windows
• Heating, Cooling & Reinsulation

...and any other worthwhile purpose. Ask your professional tax advisor how much you could expect to save using a 2nd Mortgage or Home Equity Loan to finance your purchases.

The Credit Union Offers 2 Different Options:

The main difference between the 2nd Mortgage and Home Equity Loan offered by the Credit Union is whether they're closed-end or open-end. A closed-end Loan is a one-time, one-sum disbursement. An open-end line-of-credit lets you draw on the Loan numerous times up to your approved limit.

Home Equity Line-of-Credit

• Borrow Up to 90% Loan-to-Value
• No Set Up Fees
• Minimum $10,000
• Special Checkbook - draw on your Loan anytime during the first 10 years simply by writing a Check. Borrow as often as you wish up to your approved limit.
• 15-Year Payback/ Open-end Line-of-Credit

EquiBuilder 2nd Mortgage

• Borrow Up to 80% Loan-to-Value
• Fixed Rate
• 15-Year Maximum Payback / Closed-end