Great Basin Federal Credit Union ::/ Home Equity Loans

Having your home work for you can be very advantageous. You can use the equity in your home for a variety of expenses including home improvements, college tuition, other major purchases or for consolidating debt. We currently offer three different types of Home Equity Loans to meet your needs.

At this time, we do not have an online loan application for Home Equity Loans. Please call us at 775.333.4228 on details on applying for a Home Equity Loan.

Fixed Home Equity Loans

With our Fixed Home Equity Loan, you can borrow from $5,000 to $25,000 for up to 120 months. You can enjoy peace of mind knowing you will have a fixed rate, fixed loan amount, and a fixed term. There are no up-front closing costs and we can finance up to 80% of Combined Loan to Value (CLTV).

Home Equity Line of Credit

On our popular Home Equity Line of Credit, you can borrow from $10,000 to $250,000 in the form of a revolving credit line. With this loan, you have a variable rate, but since it is a revolving line of credit, you can borrow and pay it down as you wish for a term of 10 years (at which point the loan may be re-evaluated and re-applied for). There are no closing costs with the Home Equity Line of Credit and you can easily access your funds either from the branch, online or you can even use checks. We will finance up to 80% of your home's value.

This loan may be a good option for someone wanting to consolidate debt or fund home improvements. We also often see members using this type of loan to help pay for a child's college education or to pay for that dream vacation.

Visa ® Home Equity Line of Credit

This service is similar to the traditional Home Equity Line of Credit with the added convenience of accessing your credit line using a Visa Card. This might be good for someone who intends to make several purchases using their credit line or someone looking for an alternative to a traditional Visa Credit Card.

There are possible tax benefits of Home Equity Loans. Please consult with your tax advisor for details. Early closure fees may apply on all Home Equity Loans if closed within 24 months. At this time, we do not have an online loan application for Home Equity Loans. Please call us at 775.333.4228 on details on applying for a Home Equity Loan.