Home Loans
We offer a complete selection of loans for what could be the biggest and most important investment you’ll make.
Home Equity Line of Credit
A preapproved line of credit that's available whenever you need cash in a hurry. It’s perfect for on-going home improvements, emergencies or 'once-in-a-lifetime' shopping opportunities. You apply once, and upon approval, you can take an advance by using the free checks we provide or by making transfers via eBanking or TouchTone Teller.
You Control Payment Adjustments
Your payment changes only when you take an advance - not when the Prime Rate changes. Depending on your new balance, your payment may actually decrease.
Lowest Lifetime Cap
Our low lifetime cap of 14% APR keeps your payments and costs reasonable. Banks and other lenders let your rate rise as high as 24% APR.
No Time Limit On Advances
Take advances whenever you need, regardless of your loan's origination date. Other lenders restrict advances to the first 5 or 10 years.
Easy Access
Take advances through eBanking, TouchTone Teller or by calling us.
Tax-Advantaged Borrowing
Your HELOC interest may be deductible, so using it to pay off credit cards and personal loans can be a smart move. Consult your tax advisor.
Quick Equity Loan
A closed-end, fixed-rate loan that is ideal for when borrowing for a specific purpose. Use it to remodel, add a new roof, take a vacation, consolidate bills, send the kids to college, pay for a wedding or anything you choose. Borrow up to 100% of your equity, with no appraisal required. Your interest may be deductible; consult your tax advisor to be sure.
The Home Loan Center
A valuable site that lets you study your home loan options, see current rates, learn real estate terminology, estimate payments, and even apply online!
The Home Loan Center offers:
- 10-, 15-, 20- and 30-year fixed-rate mortgages
- 6-month and 1-year Adjustable Rate Mortgages
- Mortgages with fixed-rate starting periods of 3, 5, 7 and 10 years
If you're in the real estate market, start your search at the Home Loan Center.
Refinances
Mortgage rates are still low, so if you haven’t refinanced yet, now is the time. You’ll lower your monthly payments to put more cash in your pocket each month, or keep your payment the same and pay your mortgage off early. Schools FCU has lower processing fees than banks, and through the Home Loan Center‡, we can help you get a terrific low rate.
