Home Equity Loans
An HRCU Home Equity Line of Credit or Fixed Rate, is a great way to use the equity in your home to make home improvements, pay for college or medical expenses or take that much needed vacation.
Home Equity Line of Credit
Unlock the cash in your home with an HRCU Home Equity Line of Credit. Upon approval, you can use funds whenever amd wherever you choose without having to complete additional applications.
- Loan amounts from $20,000
- Borrow up to 100% of the value of your home less any mortgage balances
- Rates based on Prime
- Consult your tax advisor for further information regarding the deductibility of interest and charges
- Credit life and disability insurance is available to qualified members
- Rates & terms are subject to credit approval
Fixed Rate
Tap into the borrowing power of your home with HRCU’s Fixed Rate Home Equity or Home Improvement loan. Borrow up to 100% of the value of your home (less any mortgage balances) at a low fixed rate with terms of five, seven, 10 and 15 years.
- Loan amounts from $5,000
- Borrow up to 100% of the value of your home less any mortgage balances
- Rate remains constant for loan term
- Consult your tax advisor for further information regarding the deductibility of interest and charges
- Credit life and disability insurance is available
- Rates & terms are subject to credit approval
Compare Home Equity Loans
Below is a layout comparing the features of both types of loans for your convenience.
| Features | Home Equity Line of Credit | Home Equity Fixed Rate |
|---|---|---|
| Credit line you can draw on for up to 10 years | Yes | |
| One sum paid out all at once | Yes | |
| Fixed Rate | Yes | |
| Variable Rate | Yes | |
| Borrow up to 100% of the equity in your home | Yes | Yes |
| Credit life and disability available | Yes | Yes |
| Which to choose? | ||
| One time large purchase such as a swimming pool or new appliances. | Yes | |
| Long term expenses such as college tuition or an extensive remodeling project | Yes | |
| You don't want to make impulse purchases | Yes | |
| If you see that 55 Tbird you want to be able to spring | Yes | |
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NMLS Registry Information for Holy Rosary Credit Union Loan Originators
NMLS Registry Number – 740044
