Did you know your home can help pay for a variety of planned and unplanned expenses? If you own a home and need money for home improvements, education expenses, or a special vacation, you can use a Home Equity Loan or Home Equity Line of Credit (HELOC) to get the funds you need.

Using your home’s equity is a smart way to borrow. The rates are lower than those you would get with a personal loan, and the interest may be 100% tax deductible. *

Home Equity Loan

Home Equity Loans are a great option for those who prefer a low, fixed rate and anticipated monthly payments. Simply borrow a fixed amount and repay it over a fixed period of time. You can also make payments quickly and easily through online/mobile Banking.

A Home Equity Loan is a smart way to finance a specific purchase.

HELOC (Home Equity Line of Credit)

A HELOC is an open-ended loan that allows you to draw on your funds when you need them. As you pay back the loan, the money in your line of credit becomes available again for future use without having to reapply. A HELOC is perfect for an emergency fund, last-minute projects, or paying large expenses like home remodeling projects, college tuition, or bill consolidation. It’s a great option when you have ongoing borrowing needs.

• Quick and easy application process
• No prepayment penalty

Home Improvement Loan

If you are looking for the perfect loan specifically for home renovations, our fixed-rate Home Improvement Loan is the way to go. Our ECU Home Improvement Loan gives you one up-front lump sum, and you can borrow up to 100%** of your home’s value or future value.

* Check with your tax adviser for possible tax benefit.

**Value determined by the appraisal district’s published value, or a certified appraisal may be required at the borrower’s expense. Other conditions or restrictions may apply. See an ECU representative for full details.