Home Equity Line of Credit: A line of credit against the equity in your home that is available when you need it. Key features include: variable interest rates and various repayment terms available. We also offer a Fast Forward HELOC so you may get your money in as fast as 7 business days!**
Home Equity Loan: A loan given to you in a lump sum payment. Key features include: fixed rate and various repayment terms available.
EquityFlex: A special type of home equity loan with an initial fixed-rate, a variable rate thereafter. Various repayment terms available. Members often find their monthly payments for EquityFlex are typically lower than for a fixed-rate home equity loan.
*Certain restrictions apply. Loans are subject to credit approval. Property insurance and flood insurance, if applicable, must be in effect on the property being secured. Loans are subject to credit approval, verification, and collateral evaluation. Consult a tax adviser for further information regarding the deductibility of interest and charges.
**The 7 business day closing is based upon all required documents being received at the time of submission. A review of the Credit eligibility, adequate property value, and a clear title is also needed for qualification. Other restrictions may also apply.
Contact Freedom First Credit Union at (540) 389-0244 for additional information on all of our loan products.