Put Your Equity to Work! Your home may be your single biggest investment. Make it work harder for you with a Home Equity Loan or Home Equity Line of Credit from ECU. We offer competitive rates, easy application processes, and the advice of our knowledgeable staff.
 

10 Year Fixed Home Equity Loan

2.99% RATE
3.012% APR*
Contact loans@everettcu.org

*APR=Annual Percentage Rate; rates are determined by your personal credit history; monthly payments $9.65 per $1000. Combined loan to value (CLTV) not to exceed 70%. CLTV may be reduced based on creditworthiness. Available on 1-4 family primary residences in MA. New loans up to $200,000. $350 upfront application fee. Property insurance required. Additional terms and conditions apply. Rates are subject to change. Equal Housing Lender.

 

25 Year Home Equity Loan Special!

Year 1 intro 1.49% APR*
Years 2-10 low 2.99% APR*
Years 11-25 prime monthly 3.25% APR*

* Annual Percentage Rate (APR) Introductory rate of 1.49% for first 12 months; low rate 2.99% for years 2-10; rate will be variable monthly equal to the Wall Street Journal published prime rate years 11-25. Prime as of 1/31/12 is 3.25%. Minimum APR is 7%. Payments in Year 1 would be $3.99 per $1000; Payments in Years 2-10 $4.74 per $1,000. Maximum Combined Loan to Value (CLTV) not to exceed 70%. CLTV may be reduced based on credit worthiness. Payment of principal and interest over the life of the loan. Available on 1-4 family primary residences in MA. New lines up to $200,000. Property insurance required. Closing fees of $900-$1100 apply. Additional terms and conditions apply. Rates are subject to change. New advances only. Offer not applicable to existing Everett Credit Union Home Equity line of credit accounts. Equal Housing Lender.

 

Benefits of Home Equity Financing
Low interest rates and tax advantages make home equity financing a smart decision.
 

Flexibility	Borrow for any purpose: debt consolidation, home improvement, college tuition, whatever you need.
Lower Rates	Borrow at lower rates than with personal loans and credit cards.
Tax Benefits	The interest on Home Equity Loans is generally tax deductible, within certain limits. Chances are you’re paying much more on other personal loans and credit cards – without the tax benefits of a Home Equity Loan. Contact your tax advisor to learn more.

Which Loan Is Right For You?
Compare the features of a Home Equity Loan and a Home Equity Line of Credit:

Home Equity Line of Credit
 

Flexible repayment	Pay the minimum amount due or the entire balance
Flexible Terms	Rates are variable based on the prime rate
Borrow only what you need	Write yourself a loan with convenient checks to access your line of credit when you need it

Home Equity Loan
 

Fixed monthly payments	Pay a predictable monthly amount
Fixed terms	The interest rate and term remain the same for the life of the loan
One lump sum advance	Appropriate for managing large expenses when the amount needed is known in advance

Curious about how much to borrow and what your payments may be? Our loan calculators can help you plan.
For complete details, including rates, call us at (800) 287-1189.
 

How to Apply?

 
We offer two application options:
Apply in person. Check our office hours.
Apply online HERE.