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Home Equity Loans

Home Equity Lines of Credit (HELOC)

A home equity loan is a powerful tool for homeowners. It allows you to borrow money against the equity in your home which can be used for any project or purchase: repairs or upgrades, college tuition, or to pay off high-interest debt. Often, the interest rates on home equity loans are lower than credit cards, which makes it easier on your bottom line.

The amount of a home equity loan is based on how much equity – the difference between the value of the home and how much is owed on the mortgage(s) – the homeowner has, and current credit qualifications. The longer a mortgage is paid down and the more a home appreciates in value, the more equity is built which can equate to a larger loan amount.

ESFCU offers competitive, fixed-rate home equity loans as well as open-end, variable-rate lines of credit (HELOC**) that are available for use when you need it. In addition to low interest rates, the interest may be tax deductible.+ Consult your tax advisor for details.

Let us help you evaluate the untapped value in your home.  You may be able to use your home as collateral to pay off debt, do home improvements – you decide the goal, we help you accomplish the dream. Our lending professionals will show you flexible options that fit your needs. Call or text us at 620-342-2336