Home Equity Loans & Lines of Credit
Make Your Home Work for You with Four Points
MAKE YOUR HOUSE MORE THAN A HOME
Interested in a home equity loan or HELOC? Four Points Federal Credit Union has you covered with low-cost, flexible loan options. Four Points services all of our home equity installment loans and home equity lines of credit in-house, which means you will always know who to talk to and how to get a hold of us with questions or concerns.
Over time, your home gains equity and can become a valuable resource when applying for loans. If your home is worth more than you owe on it, you may qualify for a Home Equity loan dependent on your available equity.
LOAN VS. LINE OF CREDIT
HOME EQUITY INSTALLMENT LOAN
This is a conventional loan with a set amount borrowed for a specific period. Your interest rate will be fixed for the life of the loan. Each time you make a monthly payment, it will reduce the balance of your loan and cover some of the interest costs.
HOME EQUITY LINE OF CREDIT
This is a revolving line of credit, meaning that money can be borrowed, repaid and borrowed again, up to the approved limit during the draw period. Once the initial draw period expires, the loan may be renewed as a line of credit at our discretion or the loan may go into a scheduled repayment plan if there is a remaining balance.
BENEFITS OF USING A HOME EQUITY LOAN
TO HELP COVER LARGE EXPENSES
The amount of money you borrow from a home equity loan is given to you in one lump sum, or in other words, a single payment of money. This provides you with the flexibility to pay for some of life’s greater expenses, such as:
- Remodeling and Renovations
- College tuition and textbooks
- Buying a new vehicle
- Going on that dream vacation
LOWER Home Equity Loan INTEREST RATES
Home equity loans have lower interest rates compared to unsecured loans. This can be beneficial when considering costs for education, making a substantial purchase, or trying to manage your debt.
HOW MUCH HOME EQUITY DO YOU HAVE?
Before you apply for a home equity loan you must determine how much home equity you currently have. Your equity is the amount of your current mortgage subtracted from the appraised value of your home.
LET US HELP YOU WITH YOUR HOME EQUITY LOANS
Four Points Federal Credit Union cares about our members. Our mission is to help our members be financially stable and aware. If you need help with a home equity loan, our financial team would be happy to talk with you about our home equity loan products. For more information about our home equity loans, HELOC rates, or any other financial services, visit our Omaha, NE branch or call us today at 1(800) 323-2786.
Home Financing at its Best
Four Points has long made use of the technology that makes home equity financing and online loan acquisition convenient and hassle-free. You come first here, so we focus on keeping the rates and fees associated with our real estate loans as low as possible. Providing service in every state also enables our lenders to meet your needs and answer your questions. Put the fun back in funding your home equity financing experience with Four Points Federal Credit Union.