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Home Equity Loans

 

    Apply Now        

Already a member? You can log in to your Online Banking or Mobile Banking for a quicker loan application.

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. Check out the types of Home Equity Loans below that may meet your needs.

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Home Equity Line of Credit
Current Rate 5.00%
(Prime + 0.50; 5.00% floor rate in effect)

 

Fixed Rate Home Equity
Current Rate 4.75%
(Prime + 1.50)

Home Equity Line of Credit
  • Borrow from $10,000 to $250,000 in the form of a revolving credit line
  • Variable rate
  • 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)
  • No closing costs
  • Access your funds online, in a branch, or with checks
  • Finance up to 80% of Combined Loan to Value (CLTV)
  • Maximum rate is 16.00%. Minimum (floor) rate is 5.00%

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.

Fixed Home Equity Loans
  • Borrow from $5,000 to $75,000 for up to 180 months
  • Peace of mind of a fixed rate, fixed loan amount, and a fixed term
  • No closing costs
  • Finance up to 80% of Combined Loan to Value (CLTV)

 

Home Equity Loan Questions? We’d be happy to call you.


fineprint

Early closure fees may apply on all Home Equity Loans if closed within 36 months. On approved credit; for qualified borrowers. No closing costs; no points; no origination fees. Appraisal may be required; can be reimbursed upon funding. The interest rate is tied to the Prime Rate as listed in the Wall Street Journal. Interest rate may change quarterly. Annually, your payment may change as a result of changes in the Prime Rate throughout the year. Home Equity Line of Credit Annual Percentage Rate (APR) based on Prime + 50 basis points with floor rate of 5.00% (Prime = 3.25% as of  03/04/2020). Prime + 50 basis points will apply for the life of your loan; not a promo rate. Fixed Rate Home Equity Loans also available. Great Basin FCU will finance qualifying new Home Equity Loans or refinance qualifying Home Equity Loans from other financial institutions. Existing GBFCU loans not eligible for refinance. Please ask for examples of CLTV.

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