You Love Your Home. Let It Love You Back.
When you need access to funds for a home improvement project or other needs, leverage the investment you made in your home purchase. A low fixed rate Home Equity Loan can give you cash from the equity you have built in your home.
Fixed Rates as low as 4.00% APR*
Borrow up to 85% LTV with terms up to 10 years
No Annual Fees
No loan origination or annual fees
Calculate Your Potential Home Equity Value
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Frequently Asked Questions
You can borrow as little as $15,000 or up to $750,000 depending on your credit history, available equity in the property and your current monthly debt.
You can borrow up to $750,000 depending on the amount of equity in your home. Terms are flexible up to 180 months (15 years). The interest rate is fixed for the term of your loan, and repayments are made in monthly installments of principal and interest.
Available credit is based on your loan-to-value ratio, with a maximum of to 80% loan-to-value. After borrowing you will still be required to have at least 20% equity left in your home.
Yes, an appraisal is required to determine the value of your home and how much equity you have available.
Home Equity Line-of-Credit
Need recurring access to funds instead of a one-time loan? Consider a Home Equity Line-of-Credit.
Use Your Equity For Home Improvements
Using the equity in your home to finance your home improvements is a great idea. What improvements have the best return?
Consult your tax advisor. Borrower will be responsible for third party fees, such as: appraisal, tax and flood tracking, title insurance, and settlement service. Consult your tax advisor about tax deductions and your tax liability. Adequate homeowner’s insurance coverage is a requirement for this loan.
1) APR=Annual Percentage Rate. Rate, terms and conditions are subject to change without prior notification. Actual rate may vary based on the term, loan amount, your credit history and other factors. Home Equity rates are based on prime plus a margin. Advertised as low as rate is based on prime as of June 1, 2020 and excellent credit review. Rate is subject to change without notice during promotional period which could result in a difference between actual as low as rate and advertised as low as rate. Advertised promotional rates available through August 30, 2020. Adequate property and flood insurance required, if applicable.
2) 5-year draw, 15-year payback. Introductory rate is a fixed-rate for 12-months as stated above. Off er is valid on qualified new home equity line-of-credit applications received between June 1, 2020 and August 30, 2020 with a minimum loan amount of $25,000 and a minimum initial draw of $10,000. A maximum 95% Combined Loan-to-Value (CLTV). After the intro rate period (12-months) or for lines not subject to the intro rate, your monthly APR will be a fully indexed, variable rate based on Prime plus a margin and based on your credit line amount, Loan to Value (LTV) and other factors. Prime rate is obtained from the Wall Street Journal. The maximum APR that can apply is 18%. The rate is variable and can adjust on a monthly basis. We may not extend credit to you if you do not meet Atlantic Financial Federal Credit Union criteria. Existing AFFCU Home Equity lines-of-credit members must increase current line by at least $25,000 with a minimum initial disbursement of $10,000. For every $1,000 borrowed at the current rate of 4.25% APR your payment will be $7.53 monthly. Consult with your financial advisor about potential tax savings. Excludes current Atlantic Financial Federal Credit Union loans. Please consult with an Atlantic Financial Federal Credit Union representative for more information.
3) Available only on new AFFCU Home Equity Loans. Cannot be used to refinance an existing AFFCU loan. The promotional APR is based on the value of an index of Prime minus 0.50%. The index is the Prime Rate at the time of the loan origination and is published in the Wall Street Journal. The home equity loan has a 10-year payback period. Rate ceiling is 18.00% APR. Minimum loan amount is $15,000 with a maximum 10-year fixed-rate term. Maximum loan amount is 95% loan-to-value. We may not extend credit to you if you do not meet Atlantic Financial Federal Credit Union criteria. Existing AFFCU Home Equity loan members must increase current line by at least $25,000 with a minimum initial disbursement of $10,000. For every $1,000 borrowed at 3.50% APR your payment will be $11.07 monthly. Consult with your financial advisor about potential tax savings. Please consult with an Atlantic Financial Federal Credit Union representative for more information.