Home Equity Loans
Any of these projects on your list?
- Finish basement
- Add an extra room
- New roof
- Major remodeling
- Consolidate higher-interest rate debt
- College tuition
If you’re a homeowner, a Home Equity Loan is one of the best ways to borrow because the interest may be tax deductible.
* Equity Loans allow you to borrow up to 100% of your home’s value.
To apply for a Materion FCU loan, please contact the credit union.
Home Equity Line of Credit
Our Home Equity Line of Credit is there when you need it—simply access your funds by writing a check or making an advance and transferring the funds to your checking.
- Home Equity Line of Credit Rates as low as 7.75% APR* (Starting rate is based on Prime)
- Interest may be tax deductible*
- Low Monthly Payments
- No Application Fees
| “How much equity do I have?” | Here’s an example: |
| Appraised value of home | $100,000 |
| Multiply by 100% value | $ 100,000 |
| Subtract 1st mortgage loan balance | – 60,000 |
| Potential line of credit | $ 40,000 |
*As of November 8, 2024, the prime rate is 7.75%. Your rate is based on your credit history and the equity in your home. Property insurance may be required in connection with this plan. Consult your tax advisor to determine your tax benefits.
To apply for a Materion FCU loan, please contact the credit union.