Get the Extra Cash You Need Today With a Home Equity Line of Credit

Are home renovations in your plans? Or perhaps you'd like to go on vacation or consolidate debt. Whatever your plans, now is a great time to make it happen with a home equity line of credit from Evansville Teachers Federal Credit Union. Rates start as low as 3.25% APR!

A new home equity loan from ETFCU offers a revolving line of credit with a minimum credit line of $10,000—so you can enjoy a ready cash reserve that is available whenever you need it. And at ETFCU, you'll also enjoy:

  • No annual fee
  • No closing costs
  • No prepayment penalties

You can borrow any amount up to your established credit limit as needed, and interest paid on a home equity loan may be tax deductible*.

For more information or to apply, contact our Real Estate Lending Department at (812) 469-9928 or 1-800-800-9271. Or, you can apply online today at our Online Mortgage Center.

Subject to credit approval. Collateral restrictions may apply. Adequate property insurance is required for all home equity lines of credit. The rate on 80% home equity loans is the prime rate as published on the first business day of each month in the Wall Street Journal. Our 95% home equity loan has the same benefits and uses the same index as our traditional home equity loan and offers a low rate of just 1.5% above the prime rate. There is a maximum cap of 18% APR. Payments are affordable at just $20 per $1,000 outstanding rounded up to the nearest $20. Other fixed- and adjustable-rate second mortgages are offered with terms up to 15 years.

*Consult your tax advisor regarding interest deductibility.


Visit our loan rates section.




Interest-Only Home Equity Loan

We've expanded our home equity program to include an interest-only home equity loan. You'll benefit from lower payments and the flexibility of paying any amount you choose toward the loan principal! The loan requires that you have a minimum 80% equity invested in your home and features:

  • The interest rate is the prime rate as published on the first day of each month in the Wall Street Journal.
  • A maximum cap of 18% APR.
  • No annual fees.
  • Best of all, the credit union will pay the closing costs!

Visit our loan rates section.

Apply for your home equity loan online at ETFCU's Online Mortgage Center.


Mortgage loans are available to qualified members in most southwestern Indiana, western Kentucky, and southeastern Illinois counties. Please contact a mortgage loan officer at any ETFCU office for further details.

 

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(812) 477-9271 or 1-800-800-9271

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