Home Equity Loans

Life happens and Abbey knows it. Your home needs remodeled. Medical bills pile up. Children’s college expenses rise. If you’re a home owner with good credit standing, you can use your home as collateral to pay for whatever comes your way.

Traditional Home Equity Loan
A home equity loan is a close-ended loan that provides a lump sum of money with a fixed interest rate. You can borrow anywhere from $7,500 to 90% the value of your home with a term ranging from 5 to 15 years.

Open-End Home Equity (Line of Credit)
Another option is a home equity line of credit. An Open-End Home Equity is a practical way to borrow for important expenses or for a home improvement project, especially when you would like to have the flexibility to use your credit in increments. This revolving line of credit, with a variable interest rate, is like having a credit card, if you do not use it, you do not pay for it. An Open-End Home Equity line of credit will offer you a large amount of cash with a comparatively low rate of interest. The loan is based on the appraised value of your home. It also gives you some tax benefits not available with other kinds of loans.

Come to Abbey Credit Union! We will open the door for you... to a Home Equity Loan. Visit any of our branches listed at the bottom of this website to apply for your Home Equity Loan.

*APR= annual percentage rate

All Loans subject to Normal Credit Criteria.
Rates subject to change without notice.




Valuable Links:
HUD on homes: If anyone knows the ins and outs of home buying, it's the Department of Housing and Urban Development (HUD).