A Home Equity Loan or Home Equity Line of Credit can help you get started on your "to-do" list! If you’re a homeowner, a Home Equity Loan or Line of Credit from GECU is one of the easiest and smartest ways to get the funds you need for virtually any purpose: home improvements, additions, college tuition, weddings, vacations… if you have a financing need, your home can help!
We offer both:
- Fixed-rate Home Equity loans are great when you need a lump sum of cash. Payments are fixed with terms up to 180 months, resulting in full repayment by the end of the term.
- Adjustable-rate Home Equity Line of Credit (HELOC) works well when you have occasional needs for cash over time. Our Line of Credit is available for a 10-year period with a 5-year repayment period.
CURRENT HELOC SPECIAL! An introductory rate of 2.99%APR through December 31, 2017; then converts to 3.75%APR.1 Learn more >>
Our loans come with great features:
- Great low rates and a variety of terms
- No application fees or closing costs2
- No annual fees
- No pre-payment penalties
- Line of credit has no initial draw requirement
- $10,000 minimum Home Equity Loan or Line of Credit requirement
- Borrow up to 80% of your home’s equity2
- Free Line of Credit checks
- Make transfers from your Line of Credit in Online Banking2
- Tax deductibility3
1Offer is limited to owner-occupied, single-family property located in Ohio, Kentucky, and Indiana. APR = Annual Percentage Rate. For qualified borrowers only. New money and refinances from other financial institutions only. Offer is subject to change at any time. Line of credit up to $49,999 has an introductory rate of 2.99% through December 31, 2017 and then converts to a rate of Prime - 0%; the rate is subject to adjustment on the first day of each calendar quarter to Prime - 0% (subject to program minimum APR of 3.75% after the introductory period; the maximum APR for this loan plan is 9.99%). $50,000 and up has an introductory rate of 2.99% through December 31, 2017 and then converts to a rate of Prime - .25%; the rate is subject to adjustment on the first day of each calendar quarter to Prime - .25% (subject to program minimum APR of 3.75% after the introductory period; the maximum APR for this loan plan is 9.99%). The Prime Rate is from the Wall Street Journal and is currently 3.75%. There is no annual fee. The minimum line of credit is $10,000. Standard closing costs are generally waived. The loan must be for a primary residence only. Maximum 80% loan to value (LTV). Property insurance required to open plan.
2View Lending Disclosures
3Be sure to contact a tax advisor on their deductibility of interest.
GECU NMLS #449875