Home Equity Lines of Credit
Home Equity Credit give you access to your home’s equity for home repairs, debt consolidation, tuition and more. Rates are variable. Members may finance up to 95% of their home’s appraised value, minus any other liens. ESCU has flexible terms and low fees. There is a 5 year draw period on the credit line during which the member may withdraw the available loan proceeds. There are no pre-payment penalties with the loan product, so there is no penalty for paying off early or not using the credit line. Payments are based on a 10 year term – fully amortized. Members applying will receive current rate information from the Loan Officer. To apply for a Home Equity Credit Line, contact an ESCU Loan Officer.