Home Equity & Home Improvement Loans
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Home Equity
Ideal for large expense, such as a major home improvement, or you want to consolidate your debt.
- Funds disbursed all at one time
- Fixed monthly payment amounts
Home Equity Line of Credit
Ideal for recurring expenses, such as home renovation or education-related costs.
- Funds can be used as needed
- Variable monthly payment amounts
Resources:
Home Equity Comparison Chart
Click here for rates.
Click here to fill out our Application.
Questions?
Contact Us.
NOTE: We offer up to 90% combined loan-to-value for Home Equity Loans and Home Equity Lines of Credit.
Fees: All closing costs and fees associated with a Home Equity Loan or Home Equity Line of Credit are the responsibility of the member; however, these fees can be financed with the loan.
Computation: Method used for determining the amount that you can borrow:
Example: Value of home $100,000.00 x .80 Equity $80,000.00 Present Mortgage -$40,000.00 Equity Loan Value $40,000.00
Payments:
Payments will be amortized on the basis of one year for every $2,000.00 borrowed, not to exceed 15 years. Loan payments will remain constant until an additional advance is made.
Interest may be deductible; check with your tax advisor. -
Ready to remodel your kitchen or bathroom? Have you always dreamed of your own inground pool?
Rates as low as 7.25% APR** for up to 60 months!
Other rates and terms are available. Maximum term is 20 years, maximum loan amount up to $100,000.
- Same Day Approval
Click here to fill out our Application.
Questions?
Contact Us.
**APR= Annual Percentage Rate. This loan is for home improvement purposes only. Copies of estimates are required. All terms and conditions subject to change without notice. Rate based on credit worthiness. Not all members will qualify. Same day approval in most cases. Payment example: If you borrow $15,000 at 7.25%* for 5 years, your payment each month will be $298.87, or $137.66 bi-weekly. This offer may not be used to refinance any existing InFirst FCU loan. Not all members will qualify for the lowest rate. Not all applicants qualify for the maximum loan amount or longest term. Maximum term up to 20 years varies by amount borrowed. Contact us for details.
Watch our video to learn more about Home Equity Loans!
What is a Home Equity Loan?
A Home Equity Loan allows you to borrow money against the value in your home by using it as collateral.
How does a Home Equity Loan work?
Homeowners can tap into the equity that they have built up over time to finance home repairs or consolidate debt.
Example: You owe $300,000 on your mortgage. Your home is valued at $500,000. You have $200,000 in equity available.
Secure and Fair Enforcement for Mortgage Licensing Act
The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), requires credit union mortgage loan originators and their employing institutions to register with the Nationwide Mortgage Licensing System & Registry (NMLS). A listing of the mortgage loan originators of InFirst Federal Credit Union can be found below:
| Name | Number |
|---|---|
| InFirst Federal Credit Union | 449861 |
| Kealin Beckner | 2330014 |
| Nazmon Kalam-Fudzie | 194436 |
| Amber Gordon | 1566678 | Michael Mutchler | 1461987 | Jamie Priest | 2330232 | Alex String | 805456 |
| Nicole Todd | 1134820 |
