Home Equity

Using your house as collateral, a home equity loan through Lebanon Federal Credit Union gives you the perfect solution to borrow for home improvements, debt consolidation, college expenses, or just about anything you can imagine.  Plus, you can even use a home equity loan to refinance your mortgage or existing home equity loans from another financial institution.

We offer two great Home Equity Loan products:

A fixed-rate, closed end Home Equity Loan

Gives you a great rate and an affordable monthly payment.

  • Borrow up to 90% of your home´s equity
  • Up to 20-year terms
  • Low fixed rates

A variable-rate, open end Home Equity Line of Credit

With our Home Equity Line of Credit you'll have the flexibility to take advances over the life of the loan whenever you need them.

Borrow for home improvements, bill consolidation, college expenses, and more!

  • Borrow up to 90% of your home´s equity
  • Up to 20-year terms
  • We won’t charge you any interest unless you carry a balance

 

There is no application fee from the credit union, no pre-payment penalty, and the interest that you pay may be tax deductible!

A home equity loan will allow you to borrow up to 90% of your homes appraised value in a first lien position or up to 90% of your homes appraised value in a second lien position.


 


Rates and information are subject to change at any time. *APR = Annual Percentage Rate. Home Equity Line of Credit (HELOC) promotional rate of 1.99% APR* is available on all new money advanced for a 6 month period of time from the date of the loan closing. Up to 90% LTV, 1st or 2nd lien position. Loan payment(s) begins upon initial advance. Monthly payment may vary and is based upon the outstanding principal balance as of the time of the last advance X 1.50% (e.g. $20,000 balance would result in a $300 minimum monthly payment). The promotional annual percentage rate will automatically terminate at the end of the promotional period. No notice to borrower required. Minimum credit line amount $10,000. Minimum initial advance $1,000; minimum subsequent advances $100. Interest rate is variable. Following the promotional period, the interest rate will be equal to the prime rate or prime rate plus 1% as published in the last issue of the Wall Street Journal on the last business day of the preceding month. The maximum APR* is 18% or the maximum Annual Percentage Rate allowed by applicable law, whichever is less. Minimum APR* is 5.00%. Minimum payments may result in a balloon payment at the end of the loan term. Other restrictions or conditions may apply. LFCU NMLS #: 408899


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If you have any loan questions, please contact us during normal business hours.

By email: loans@lebanonfcu.org

By phone: 717-272-2210 option 3 for the Loan Department