Home Equity Loans
Your home, your financial advantage.
A home equity loan is a smart way to leverage the equity in your home to access cash for major expenses.
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A home equity loan¹ allows you to borrow against the equity you have in your home. Your equity is the market value of your home minus what you still owe on your mortgage and/or other liens. Our experienced loan officers will work with you to determine how much of your equity you can borrow and put together a payment that works for your budget.
You can use the funds from home equity loans for a vacation, a home improvement project, college tuition, and much more.
Fixed-Rate Home Equity Loan
This loan gives you a predetermined amount of cash, which you pay back at a fixed interest rate (i.e. an interest rate that won't change throughout the term of your loan).
Details
Home Equity Line of Credit (HELOC)
A HELOC² sets a limit of how much you can borrow, and you can borrow as little or as much of that limit as you need over a period of 10 years.
Details
1: Subject to approval based on overall creditworthiness factors and satisfactory collateral. Collateral must be a one to four family residence that is owner occupied, not titled in a trust, located in Michigan or Ohio, and comply with Cornerstone Community Financial Credit Union insurance requirements. LTV may not exceed 100%. Manufactured homes not eligible. Other conditions and restrictions may apply.
2: Actual rate offered based on overall creditworthiness factors and LTV. Rate is variable and subject to change. Maximum rate is 25%.