Home Equity Loan
Fixed Home Equity Loan
Explore Your Options Using Your Home’s Equity
1st Choice Credit Union Home Equity Loan is considered a traditional second mortgage and is desirable if you need a one-time specific amount of money. It’s a great option for homeowners who have enough equity established in their home to tap into for expenses such as home improvements, bill consolidation or even to purchase new furniture.
Overview & Benefits
A Fixed-Rate Home Equity Loan is a second mortgage with a fixed rate, which means that your monthly payments will not change over the life of the loan. As opposed to a Home Equity Line of Credit, a Home Equity Loan will give you a one-time sum which is paid out at closing.
- Fixed Rate for the life of the loan
- Available for primary and secondary residences
- 5-year, 10-year and 15-year terms
- Maximum loan amount of $250,000
- No prepayment penalty
- No application fee
To apply for a Home Equity Line of Credit online, simply go to 1stchoicecu.org to get started. If you have questions or want to speak with a Home Loan Specialist over the phone, contact us toll-free at 404-832-5800 to get the answers you need.