Home Equity Loans

Any of these projects on your list?

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, you can apply online or contact the credit union.

Fixed Rate Equity Loan

Enjoy a fixed rate for the life of your loan with payment amounts that never change.  You receive the entire loan amount at closing.

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.

 

“How much equity do I have?”

 

Here’s an example:

Appraised value of home $100,000
Multiply by 90% $ 90,000
Subtract mortgage loan balance – 60,000
Potential line of credit $ 30,000

*As of May 1st, 2016, the prime rate is 3.50%.  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, you can apply online or contact the credit union.