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 (equity available is determined by FECU guidelines). 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 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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Can I insure my home with Federated Insurance?