Home Equity Loans & Lines
Home Equity Installment Loan (Closed End/Fixed Rate) -
Home Equity Line of Credit (Variable Rate) -
- Current member? Login to online banking from our home page.
- Current member without online banking? Learn how to sign up or apply here.
- Not a member? Not a problem! Apply here>>
- Call 800.388.2000 Monday-Friday, 9 AM to 5 PM.
- Complete our printable loan application & stop by any of our conveniently located offices.
For additional instructions on how to apply for a loan through online banking, please click here.
Thank you for your interest in AmeriCU's Home Equity products!
Please review our downloadable checklist of the items that are needed to submit an application for a Home Equity Loan (or Line of Credit).
If you’re a homeowner, you can borrow against the equity you’ve built up in your home for a variety of financing needs. AmeriCU offers both Home Equity Lines of Credit and Home Equity Installment Loans at low rates and low or no closing costs. Plus, the interest you pay on Home Equity financing may be tax-deductible. (Check with your tax advisor.)
Lines of Credit
With a Home Equity Line of Credit, you can simply write a check or transfer funds from your line of credit into your checking account as needed up to your approved credit limit. As you repay your credit line, the funds become available to borrow again with no need to reapply. This is a popular choice for people who want flexibility to pay everyday expenditures.
Those members interested in financing larger expenses such as major home improvement, a new vehicle, high-interest debt consolidation, educational expenses, etc. may consider a Home Equity Loan. The repayment term and payment amounts are fixed for the life of the loan, a good option for those who prefer fixed payments for budgeting purposes.
Not sure if you need a loan or a line? Compare!
- Frequently Asked Questions
- Glossary of Home Equity and Mortgage Terms
- What You Should Know About Home Equity Lines of Credit
Payment Example for Home Equity Installment Loan:
$20,000 for 120 months at 6.00% (Assuming 80% LTV) will be $222.04 with no insurance. Check out our current rates! All loan rates and terms shown on our rates pages are the very best that we have available. Rates shown our Annual Percentage Rates (APR), vary by individual's overall credit history and underwriting factors and are subject to change. Rates For more information, please call our Loan Phone: 1.800.388.2000 (Utica/Rome 315.356.3000).
AmeriCU's Loan Rates are subject to change without notice. This page will be updated as soon as possible after any loan rate change. Contact our Member Call Center to verify thereafter.
* APR=Annual Percentage Rate. Minimum line of credit is $15,000. Minimum draw at closing is $15,000. Rates can increase or decrease, but not to exceed 15.00% APR. Applications are subject to credit approval. Rates and terms are determined by overall credit history, loan-to-value and term of loan, and are subject to change. If loan is paid off within 3 years or less, member reimburses closing cost incurred by AmeriCU plus any additional fees to satisfy legal requirements. Fees can range from $35 to $3,500.
*Prime rate as of 03/30/15 is 3.25% Annual Percentage Rate (APR). Minimum APR is 4.50%. Minimum line of credit is $15,000. Minimum draw at closing is $15,000. Rates can increase or decrease, but not to exceed 15.00% APR. Applications are subject to credit approval. Rates and terms are determined by overall credit history, loan-to-value and term of loan, and are subject to change. If loan is closed within 3 years, member reimburses closing costs incurred by AmeriCU plus any additional fees to satisfy legal requirements. Fees can range from $35 to $3,500.Today's Home Equity Rates: (actual rate is based on your credit history and Loan To Value)