Downriver Community Federal Credit Union Go to main content

Online Banking

Enroll Now

Home Equity Loans

A Credit Union Home Equity Loan: your key to new borrowing power! Let your home work for you. Members can use the equity they have in their home for borrowing funds for home improvements, college tuition, consolidate bills, finance your next new or used vehicle or any other good purpose.

Rates As Low As 5.00% APR* as of 12/23/14.

DCFCU Home Equity Loan Features & Benefits:

  • Competitive rates
  • No hidden costs or yearly fees
  • 10 year open line of credit
  • Experienced staff to assist you
  • Track progress of your loan from application to closing on the internet 24 hours day or night

Apply for a DCFCU Home Equity Loan

Repayment of Home Equity lines of Credit will be $14 per month for each $1,000, minimum payment of $70. Minimum advance amount $1,000. All costs incurred are paid by the applicant. The cost of the appraisal is payable when the application for loan is submitted. All other fees and costs may be paid at closing.

Contact our Mortgage Department for more information.

The maximum APR will be 15% and minimum will be 5%. The APR will be adjusted annually in July of each year. Decreases & increases in the APR will be limited to 200 basis points (2% APR).

The minimum loan shall be no less than $5,000 and the maximum loan shall not exceed $100,000. The maximum amount loaned shall not exceed 75% of the appraised value of the real property less existing mortgage balance or other encumbrances or liens.

Apply now  for a Home Equity Loan.

*APR refers to Annual Percentage Rate. Your individual APR will be determined based on your Credit Score and may be higher than the quoted rate. Complete rate information is available at the Credit Union.

Go to main navigation
Social-FacebookSocial-LinkedINSocial-Twitter