Home Equity Options
At Downriver CU, the equity in your home can be used to help you accomplish great things! Whether you need to borrow funds for home improvements, college tuition, consolidate bills, finance your next new or used vehicle, or any other purchase, a home equity loan is your key to borrowing power!
You have the choice of either a Fixed Rate Equity Loan or a Home Equity Line of Credit, Our home loan specialist will help guide you to the best option for your particular needs, mainly depending on the amount requested, the use of funds, and the expected payback timeframe.
A Downriver Credit Union Fixed Rate Home Equity Loan makes it easy to budget for home improvements or other important projects! Our members can set up a fixed payment and a fixed interest rate using the equity they have in their home.
Rates As Low As 7.50% (APR)*
We Make Money Simple using the equity in your home!
- Borrow up to 80% of the value of your home.
- Payment amortized over your choice of either 10 or 15 years.
- Low $500 Underwriting Fee (which covers underwriting and appraisal costs).
- Minimum $25,000 loan amount.
For more information or to apply, please contact a home loan specialist at 313-386-2200 x1137.
*APR refers to Annual Percentage Rate. Approval subject to 80% Loan-to-Value (LTV) and minimum credit score requirements. $500 fee covers underwriting and appraisal costs. Complete rate information is available at the Credit Union.Go to main navigation