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General Electric Credit Union

1st Mortgage Alternative

Unlock the best of both worlds. 

You've spent years building equity in your home – it's time to reap the benefits.

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Refinance mortgage and home equity Cincinnati OH

An alternative to a traditional mortgage.

Refinance your primary mortgage at our lower rate while gaining access to your home's equity. We offer two options when you're looking for an alternative to a traditional mortgage loan. 

  • Fixed Equity Rich Loans can be utilized as a new, fixed-rate, short-term mortgage loan, or as an option for refinancing an existing mortgage. It has a maximum term of 15 years.
  • Equity Rich Lines of Credit (ERLOC) have lower rates than traditional Lines of Credit and cost far less than traditional mortgage loans. As you pay-off your mortgage, you can borrow on your Line of Credit up to the available limit. It is available for a 10-year period with a 5-year repayment period.

Great features of these loans include:

  • For your primary residence only
  • No application fee or escrow account1
  • No prepayment penalties
  • Free Line of Credit checks
  • Make transfers from your Line of Credit in Online Banking
  • Tax deductibility2



1View Lending Disclosures

2Be sure to contact a tax advisor on their deductibility of interest.

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