Home Equity

Home Equity

Home Equity Options

Make Your Home Work Hard For You

Make your home's value work to your advantage with a home equity loan or line of credit with Ideal Credit Union.

VISA® Platinum LOC

Enjoy the flexibility of using a credit card to draw on your home equity funds when the need arises.

Apply Learn More

Home Equity Loan

Enjoy an easy-to-budget installment loan with a fixed rate and fixed payment you can rely on.

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Home Improvement Loan

No equity? No problem. Take advantage of a special no equity, low rate home improvement loan.

Learn More

 

 

Compare Home Equity Options

 Visa Platinum LOCInstallment Loan
DescriptionLine of credit that you draw on with a credit card when the need arisesInstallment loan with a fixed term
Maximum Loan to Value1Up to 90%Up to 90%
Maximum Loan Amount$150,000$150,000
Maximum TermUp to 20 years - 5 year draw and up to a 15 year repayment periodUp to 15 years
Annual Percentage RateVariable Rate2Fixed Rate
Minimum Monthly PaymentInterest only3Fixed amount, based on initial disbursement
Access/Cash Advance OptionsVisa Platinum Card and cash advances at ATM machinesFunds are disbursed in one lump sum
 ApplyApply

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.
*APR= Annual Percentage Rate.

 

Home Equity Rates
TermAPR*** 
Rates as of:
Home Equity Installmentº*
(up to 90% property value)1
Up to 15 years4.620% - 6.795%Apply
Home Equity Installmentº*
(up to 80% property value)1
Up to 15 years3.620% - 4.919%Apply
Visa Platinum Home Equity Line of Credit+
Up to 20 years4.50% - 15.00%Apply
No Equity Home Improvement LoanooUp to 60 months6.99%Learn More
 Calculate Payments   

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 4.620%APR, monthly payments would be $654.42. Closing costs range from $275.00 to $590.00.

ooMaximum 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 6.99%APR, monthly payments would be $494.91.

*Actual rate based on applicant's payment and credit history. Additional appraisal fee may apply should one be needed.

+Closing costs may range from $0 - $1000.

***APR= Annual Percentage Rate.

Ideal Home Equity

Other Options

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