Home Equity Loans
Put your Home Equity to work for you!
Your most valuable asset can provide you with the necessary funds. Whether you need it for remodeling, emergency spending, or a tuition payment, our Home Equity Loan could be the answer.
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HOME EQUITY LINE OF CREDIT
Our Home Equity Line of Credit is a revolving line of credit secured by the equity in your primary residence located in Maryland, Virginia or the District of Columbia. This line of credit is tailored to pay back what you only use of the total available balance. Also, the maximum limits are based on the amount of your equity.
7.25% APR* LIMITED-TIME HELOC CREDIT OFFER!
Your home is more than just a solid investment or place to live. It is a powerful financial tool that can help you increase wealth, lower debt, and attain your life goals.
At IDB Global Federal Credit Union, we are excited to help you harness the true potential of your home with our exclusive Home Equity Line of Credit (HELOC) promotion, designed to empower you with financial flexibility while saving you money!
With our limited-time offer, secure a home equity line of credit (HELOC) at the low interest rate of 7.25%* APR for 12 months!
With the average HELOC rate in the marketplace standing at 8.65%,** the IDB Global Federal Credit Union Home Equity Line of Credit is a powerful financial opportunity! The best part is that no interest is accrued until you access the funds and you only pay interest on the amount you use.
With our incredibly low limited-time special 7.25% rate, discover amazing ways you can put your home’s equity to work for you! Let us achieve your goals together!
- Upgrade your home and boost its value with easy financing for renovations.
- Say farewell to high-interest debt by consolidating with our low-interest HELOC.
- Tackle home repairs effortlessly without straining your budget.
- Invest in your future – fund education or that dream vacation.
- Diversify with a second home or investment property using your home's equity.
Apply NOW. Offers ends September 30, 2023.
*The APR (Annual Percentage Rate). Offer ends September 30, 2023. New money only. Members who currently have a Home Equity Line of Credit with the Credit Union may apply for the promotion if requesting an increase in the line of credit. At the end of the 12 months, the rate returns to the current rate index plus margin. Loans subject to credit qualifications and approval. For full disclosure click here. The property must be located in Maryland, Virginia or Washington D.C.
**As of June 14, as reported by Bankrate.com.
| Loan Type | Max LTV Ratio | Credit Limit |
| 1st Deed | 80% | Up to $1,000,000 (1) |
| 2nd Deed (1st Deed Held by C.U.) |
80% | Up to $500,000 (3) |
| 2nd Deed (1st Deed Held by C.U.) |
75% | Up to $500,000 (4) |
| Second Deed (1st Deed Held by other Lender) |
75% | Up to $250,000 (5) |
(1) Maximum credit limit is the lesser of $1,000,000 or 80% of property value.
(2) Maximum credit limit is the lesser of $1,250,000 or 75% of property value
(3) Maximum credit limit is the lesser of $500,000 or 80% of property value less the first deed of trust loan with the Credit Union. The total of both loans shall not exceed $1,000,000.
(4) Maximum credit limit is the lesser of $500,000 or 75% of property value less the first deed of trust loan balance with the Credit Union. The total of both loans shall not exceed $1,250,000.
(5) Maximum credit limit is the lesser of $250,000 or 75% of property value less the first deed of trust loan balance with another lender. The total of both loans shall not exceed $750,000
Questions? Contact our Lending Department to get started.
Additional Ways To Use a Home Equity Line of Credit
- Financing College tuition with this loan might be a better deal than enrolling in educational loans with higher interest rates.
- Consolidating your debts and break away from high-interest debts, or pay-off other personal loans, car loans, or credit cards.
- Affording home projects, whether being a remodel or upgrading, could lead to a wise investment in the future.
- A reserve fund for emergency expenses as temporary backup plan and have access to a HELOC to pay-off large bills
- Planning on long term investment, so invest in the stock market or real estate and exceed your returns over the HELOC loan cost.
- An interest-only payment option for a 10-year draw period, allowing you to borrow up to the approved limit whenever you need funds.
If your home is yet to be your dream home, but moving sounds expensive and stressful, home renovation might be the answer. It can add value to your home and comfort to your lifestyle.
The great news is that your home's equity is an inexpensive and convenient funding source.
You can tap into your home’s equity to create your dream home and possibly increase its value. The possibilities are endless.
Home Equity Loans Rates
Effective as of 07/01/2023
1 Base Rate (Index) = 5.25% Margin = 2.750%
2 Base Rate (Index) = 5.25% Margin = 3.250%
3 Base Rate (Index) = 5.25% Margin = 3.500%
Term - Ten year “draw” period plus fifteen year “amortization” period.
All rates are subject to change daily. Disclosure information.