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Working With Your Home Equity Loan Rate

home equity loan rate reno

Making Home Equity Loan Rates Work for You

Your home is likely your largest asset, which is why it is important for you to take advantage of how it can benefit you. You can use the equity that you have in your home to cover a variety of expenses including college tuition, home improvements, and other major purchases that you may have been putting off. We offer three different types of home equity loans, each with different benefits that can meet your financial needs. To help you understand which type of loan is best suited to your needs, we have listed each of them below.

Home Equity Line of Credit

Great Basin Federal Credit Union offers a very popular Home Equity Line of Credit to our members. With this type of home equity loan, you will be able to borrow from $10,000 to $250,000 in the form of a revolving credit line. With this particular type of loan, you will receive a variable interest rate, but because it is a revolving line of credit, you have the ability to borrow and repay the loan as you wish for a term of ten years. When you reach the ten year point, you will have the option of having your loan re-evaluated and you can then reapply for the loan. With this type of loan, Great Basin Federal Credit Union will not charge you any closing fees and you can easily access your funds online or at our branch. This loan may be the ideal choice for someone who is looking to consolidate debt or fund any upcoming home improvements. As with all of our loans, you will receive the best home equity loan rates available.

Visa Home Equity Line of Credit

This type of home equity loan is similar to the traditional Home Equity Line of Credit loan that we offer. The only difference is that the funds you obtain through this type of loan can be accessed by using a Visa Card. This type of home equity loan may be perfect for someone who plans on making several purchases using their line of credit or for someone who would prefer an alternative to a traditional Visa Credit Card. If you are interested in this type of loan, we will do everything we possibly can to ensure that you receive the best home equity loan rates available.

Fixed Home Equity Loans

With a Fixed Home Equity Loan, you have the ability to borrow from $5,000 to $75,000 for up to 120 months. A Fixed Home Equity Loan provides you with peace of mind in knowing that your home equity loan rate is fixed. There are no up-front closing fees and Great Basin Federal Credit Union can finance up to 80% of Combined Loan to Value. If you would prefer a fixed rate, fixed term, and fixed loan amount we believe that this is the ideal loan for you.

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