Home Equity Loans / 2nd Mortgages

Federated Employees Credit Union offers a wide range of loan options using the equity in your home. These loans are available to members that own a home in Minnesota, Arizona, Georgia, Kansas, Missouri, and Indiana. We offer competitive interest rates, flexible terms, and fast, convenient service. Automatic payment options are available.

We lend up to 90% of the equity in your home. You can choose to open a Line of Credit with a variable rate or a fixed term loan with a fixed rate.   There are no closing costs in most situations; however, some restrictions may apply. The funds can be used for most anything, such as remodeling, tuition, bill consolidation, vehicles, etc. The interest you pay can be tax deductible (consult a tax advisor).

To apply, complete the Home Equity loan application and return it to us along with your most recent property tax statement or a copy of an appraisal no more than 6 months old, and your homeowner’s insurance agent and annual premium.

Home Equity loan application

Shopping For Your Home Loan: HUD’s Settlement Cost Booklet

What You Should Know About Home Equity Lines of Credit

Helpful Tools

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