Home Equity Loans - Ideal Credit Union

Ideal Home Equity Loans

Use the equity in your home for home improvements, major expenses, or even a much deserved vacation.

Home Equity Fixed Rate Loan

Waived closing costs up to $400 through September 30, 2019
Borrow up to 90% of the property value
Competitive fixed rate & payment
Funds are disbursed in one lump sum

Apply by September 30th to enjoy waived closing costs

Home Equity Line of Credit

Not sure how much you'll need or when you may need to use it? A home equity line of credit lets you use a credit card to draw funds when the need arises.

Waived closing costs up to $400 through September 30, 2019
Borrow up to 90% of the property value
5-year draw period and up to 15 year repayment period
Competitive variable rate

Apply by September 30th to enjoy waived closing costs

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Home Equity Rates

Rates as of:

Home Equity Type	Term	APR***
Home Equity Installmentº* (up to 90% property value)¹	Up to 15 years	5.00% - 6.875%
Home Equity Installmentº* (up to 80% property value)¹	Up to 15 years	4.25% - 5.875%
Visa Platinum Home Equity Line of Credit⁺	Up to 20 years	5.25% - 15.00% (variable rate)
No Equity Home Improvement Loan^o^o	Up to 60 months	7.50%
1. Some housing exceptions may apply. ^oPayment example: On a $35,000.00 loan with a 5 year term up to 90% property value at 5.00% APR, monthly payments would be $660.50. Closing costs range from $275.00 to $590.00. ^o^oMaximum loan amount is $25,000. A minimum credit score of 680 is required to obtain this loan. Offer is subject to normal credit qualifications. Payment Example: On a No Equity Home Improvement Loan with a term of 5 years at 7.50%APR, monthly payments would be $500.95. Actual rate based on applicant's payment and credit history. Additional appraisal fee may apply should one be needed. ⁺Some housing exceptions apply. Minimum Annual Percentage Rate (APR) Floor of 4%. Maximum APR is 15.00%. APR calculation is subject to change monthly and is based on the Prime Rate as published in the Wall Street Journal. Interest only payments can be made for the first five years during draw period. After the draw period ends, required payments are calculated at $1.25 per $100 of the outstanding balance or $150, whichever is greater. Closing costs range from $275.00 to $590.00. **APR= Annual Percentage Rate.

Compare Home Equity Loans

Features	Visa Platinum LOC	Installment Loan
Description	Line of credit that you draw on with a credit card when the need arises	Installment loan with a fixed term
Maximum Loan to Value¹	Up to 90%	Up to 90%
Maximum Loan Amount	$150,000	$150,000
Maximum Term	Up to 20 years - 5 year draw and up to a 15 year repayment period	Up to 15 years
Annual Percentage Rate	Variable Rate²	Fixed Rate
Minimum Monthly Payment	Interest only³	Fixed amount, based on initial disbursement⁴
Access/Cash Advance Options	Visa Platinum Card and cash advances at ATM machines	Funds are disbursed in one lump sum
Apply online	Apply	Apply

1. Some housing exceptions apply.
2. Minimum Annual Percentage Rate (APR) Floor of 4%. APR calculation is subject to change monthly and is based on the Prime Rate as published in the Wall Street Journal.
3. Interest only payments can be made for the first five years during draw period. After the draw period ends, required payments are calculated at $1.25 per $100 of the outstanding balance or $150, whichever is greater. Closing costs may range from $0 - $1000.
4. Payment example: On a $35,000.00 loan with a 5 year term up to 90% property value at 4.620% APR, monthly payments would be $654.42. Closing costs range from $275.00 to $590.00.

Home Equity

Ideal Home Equity Loans

Home Equity Fixed Rate Loan

Apply by September 30th to enjoy waived closing costs

Home Equity Line of Credit

Apply by September 30th to enjoy waived closing costs

Home Equity Rates

Compare Home Equity Loans

Ideal Home Equity

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