Home Equity

Some prefer to live in the past, others the future. A home equity loan or line of credit offers a little for both types. Finance your future needs and wants based on the timely mortgage payments you've made in the past.

At Financial One, we help our members transition their hard-earned home equity into budget-friendly financing options for both short-term and long-term needs. Best of all, the interest you pay might even be tax deductible!*


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Home Equity Loans
  • Competitively low, fixed rates for a wide range of short-term or one-time needs:
  • Education expenses
  • Debt consolidation
  • Big life events (weddings, new baby, etc.)
  • Home renovations/repairs
  • And more
  • The equity in your home is used as collateral to secure the loan
  • Loan amounts as small as $5,000
  • Flexibility when it comes to terms and repayment options
  • Home Equity Installment Loans – feature a fixed annual percentage rate (APR) and flexible terms, ranging from 5 to 15 years
  • Home Equity 5-year Balloon Installment Loans – feature a fixed annual percentage rate (APR) with a 5-year term, amortized up to 20 years
  • Fixed monthly payments make budgeting easier
  • The interest paid might be tax deductible*
  • Payment protection available to safeguard your credit and collateral
  • Local decision-making and processing
  • Helpful, member-first service throughout the entire process

Additional Coverage

To provide you the best protection on your loan, we have worked hard to bring you options when you plan on borrowing with Financial One Credit Union.

Learn more about or sign up for Payment Protection with Credit Life and Credit Disability Insurance today.

An appraisal may be required depending on the loan amount, subject to credit approval and property evaluation. Closing costs apply.

*Consult a tax advisor.

Home Equity Lines of Credit (HELOC)
  • Competitively low, variable rates for a wide range of ongoing or seasonal needs:
  • Education expenses
  • Debt consolidation
  • Big life events (weddings, new baby, etc.)
  • Major/gradual home improvements
  • Medical expenses
  • Emergency reserve
  • And more
  • The equity in your home is used as collateral to secure the loan
  • Loan amounts as small as $5,000
  • Flexibility when it comes to terms and repayment options (up to 15 years)
  • Payments made are a percentage of the principal balance, and applied as both principal and interest*
  • The interest paid might be tax deductible**
  • Funds available as needs arise; no need to apply for separate installments
  • Revolving credit; as balance is paid down, more becomes available for use
  • Payment protection available to safeguard your credit and collateral
  • Local decision-making and processing
  • Helpful, member-first service throughout the entire process

Additional Coverage

To provide you the best protection on your loan, we have worked hard to bring you options when you plan on borrowing with Financial One Credit Union.

Learn more about or sign up for Payment Protection with Credit Life and Credit Disability Insurance today.

An appraisal may be required depending on the loan amount, subject to credit approval and property evaluation. Closing costs apply.

*Some restrictions apply.

**Consult a tax advisor.