Home Loans

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Click here to apply for a Home Equity/HELOC/Home Improvement

When you choose a Home Equity Loan, Home Equity Line of Credit, or a Home Improvement Loan from ECU, you will receive excellent service, low rates and a tremendous amount of flexibility.

Home Equity Loan

Use equity in your home to fund college or medical expenses, renovate your home, dream vacation, purchase a boat or RV, or consolidate high-interest debt. No matter what your borrowing needs are, your home’s equity can provide a low-interest solution.

Home Equity Loans are a great option for those who prefer a low, fixed rate and anticipated monthly payments.

A Home Equity Loan is a smart way to finance a specific purchase.

Home Equity Line of Credit (HELOC)

A HELOC is best for those who prefer the flexibility of an open-ended line of credit with a variable interest rate. As you make payments, the money becomes available again for other uses. It’s a great option when you have ongoing borrowing needs.

HELOC’s allow the borrowers to access their equity (limit) at their own discretion when they need it and the amount they need. A traditional home equity loan allows an advance only once every 12 months. Minimum advance on HELOC is $4,000.

Call us or come by today to apply!

Example of a Typical Home Equity Loan

Origination Date: 4/1/2000

Amount Financed: $50,000.00
(The amount of credit provided to you or on your behalf.)

Annual Percentage Rate: 8.9%
(The cost of your credit as a yearly rate.)

Finance Charge: $20,086.48
(The dollar amount the credit will cost you.)

Total of Payments $70,086.48
(The amount you will have paid after you have made all payments as scheduled.)

Your payment schedule

95 Payments of $730.10 Monthly beginning 5/1/2020
1 Payment of $726.98 on 4/1/2020

Home Improvement Loan

If you are looking for the perfect loan for just your home renovations, our fixed rate Home Improvement Loan is the way to go. Our Home Improvement Loan  gives you one up-front lump sum and you can borrow up to 100%* of your home’s value or future value.

*Value determined by the appraisal district’s published value, or a certified appraisal may be required at the borrower’s expense. Other conditions or restrictions may apply.  See an ECU representative for full details.