Home Equity Fixed-Rate Loan
If you know how much you need to borrow, a Fixed-Rate Home Equity Loan from CEFCU is a great choice.
- Lock in a fixed payment.
- Pay no annual fee.
- Enjoy terms of five years up to 15 years.
- Select a rate and term to suit your budget.
- Pay back your loan early — without penalty.
- Deduct interest you pay on taxes.*
|Estimating Your Available Equity|
|Appraised value of your home||$80,000|
|Multiply by .90||x 0.90|
|Equals 90% of appraised value||$72,000|
|Subtract balance due on your first mortgage||- $30,000|
|Equals approximate amount available from Home Equity Loan/Credit Line||$42,000|
*Consult a tax advisor regarding the deductibility of interest.