Home Equity

Home Equity 

We offer a great variety of home equity loans and lines of credit. Take advantage of the equity in your home to achieve your goals!

Renovate your kitchen, go on that dream vacation, buy a new car or just consolidate your current debt – no matter the reason a Finex home equity loan or line of credit is the best solution.

Why Finex Credit Union:

  • 24-hour approvals
  • No application fee
  • No prepayment penalties
  • Home Equity Line of Credit (HELOC) Special 24-month fixed intro rate of 2.99% APR*

Our home equity products also feature:

  • Loans from $10,000 - $400,000
  • Past credit issues aren’t a problem
  • Variety of payment options: mail, in-person, automatic deduction from your Finex account, Call 24 or Homebanking
  • Flexible payment amounts

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[1] APR = Annual Percentage Rate. The introductory APR is fixed for two years (twenty-four months). After the second year, the APR is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin. To obtain an introductory rate, borrower must meet credit and loan program requirements, including (but not limited to): 1) maximum Combined Loan-to-Value (CLTV) of up to 100%, 2). borrower must have automatic transfers from a Finex CU checking account for the monthly HELOC payments, and 3) borrower must not have had a previous introductory rate for a Finex CU HELOC within the past three years. Certain restrictions apply to existing lines of credit with Finex CU. The introductory rate applies to the variable line in use only and is not applicable to any Fixed-Rate Loan Option. Sale terms are effective on applications received from 5/1/2022 to 7/1/2022

.[2] The Prime APR is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin (if applicable). The minimum floor APR is 4.00%. HELOCs are variable rate products and rates may not exceed the maximum legal limit for Federal credit unions (currently 18%). The Prime Rate as of 4/6/2022 = 3.50%.

[3] Rates and terms are subject to change without notice. All offers of credit are subject to credit approval requirements and applicants may be offered credit at higher rates and other terms. Loan-to-Value (LTV) and/or Combined LTV (CLTV) restrictions apply. Hazard insurance is required on all loans secured by real property (flood insurance may also be required where applicable). Rates shown are based on a borrower’s 1-4 family primary residence, a maximum CLTV of 90%, must be a first or second lien, and automatic transfers from a Finex CU checking account. Consult a tax professional regarding the potential deductibility of interest. Membership at Finex CU is required by opening a minimum $5 share savings account at or prior to HELOC account opening.

Borrower is responsible for paying Home Equity Documentation Fee of $90 for Premier Members ($150 for General Members), required government taxes and fees at closing. During the 10 year draw period, your minimum payment will equal the interest only minimum payment, and other fees, charges and costs. Rates and programs subject to change without notice and the APR will not exceed 18%. Offer may be withdrawn without notice. Rates apply to new HELOC accounts and may not apply to existing HELOC accounts. Please consult your tax advisor regarding the deductibility of interest.