Home Equity Loans

A home equity loan* 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). The fixed rate home equity loan works well when you know the amount you need, and you need all of it now.
  • Low, competitive interest rates
  • Flexible terms

Home Equity Line of Credit (HELOC)**
A HELOC 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. It’s a good option when you need money over a longer time period (for instance, four years of college tuition), or you’re not sure of the total amount you’ll need (a large home renovation project).

  • Only pay interest on what you use
  • Reuse as needed without reapplying
  • Draw funds as needed for up to 10 years, with a 10-year repayment period
  • Competitive variable interest rate

Questions? Connect with us and one of our team members will get back with you soon or stop in to one of our local branches.
*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 CCFCU insurance requirements. LTV may not exceed 100%. Manufactured homes not eligible. Other conditions and restrictions may apply.
**APR as low as 8.50%. Actual rate offered based on overall creditworthiness factors and LTV. Rate is variable and subject to change. Maximum rate is 25%.