Home Equity Loans
You’ve got big goals and plans! One of the most affordable ways to fund them is by tapping into the equity in your home with a home equity loan or a home equity line of credit.
Interest rates for home equity loans and HELOCs are often lower than most personal loans and credit cards, you can typically borrow a larger amount.
Home equity loans and HELOCs are similar, but there are some key differences.
If you want an in-depth explanation of home equity and the two types of home equity loans, check out our blog!
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Home Equity Loan
Ideal for expensive projects and endeavors: home renovations, consolidating high-rate debt, wedding expenses, higher education, and more!
- Lump sum: Receive the entire loan amount in one payment, making it easy to fund big ticket expenses.
- Fixed rate: You’ll always pay the same interest rate each month.
- Fixed payment: Because the rate and repayment term are fixed, you’ll know exactly what each monthly payment will be.
HELOC
Perfect for ongoing projects or smaller expenses: home projects, medical expenses, a vacation, emergency funds, car repairs and more!
- Revolving credit: Similar to a credit card, you’ll have a loan limit, and you’ll only pay interest on what you borrow.
- There when you need it: Because HELOCs are a revolving line of credit, your available funds replenish anytime you make a payment. As long as the line is open, the funds are there when you need them.
- Variable rates: Rates will fluctuate based on the current market.
Why Buckeye?
We do banking better! Buckeye State Credit Union offers traditional mortgage refinance and home equity loans for Ohio residents and a full suite of conventional banking products and services with competitive rates and low fees.
You can explore our home equity loan and HELOC rates on our website! We think you’ll find we’re one of the best lenders around.
Have questions?
- Find a branch near you and talk to us in person.
- Call us: (330) 253-9197
- Or send us an email: support@buckeyecu.org
