Home-Equity_Internal-Header-March-April-2023

Find a Location

Home Equity Loans

Tap into your home's equity with an AgFed Home Equity Loan or Home Equity Line of Credit.     

btn_ApplyforLoan_1

 

If you have big plans for your home, an AgFed Home Equity Loan or Line of Credit is the perfect financial power tool for remodeling, landscaping, adding on, and all kinds of upgrades and repairs. You can also use the equity in your home for other purposes, like consolidating bills, handling unexpected expenses or paying for college. 

Fixed Rate Home Equity Loans

  • Enjoy a fixed, low rate for life of the loan
  • Repayment terms up to 20 years
  • No closing costs*
  • One lump sum disbursement
  • Predictable monthly payments
  • Borrow up to 90% of your home’s value

Variable Rate Home Equity Line of Credit (HELOC)

  • Revolving line of credit with up to 7 years access with a 15 year repayment period
  • Variable rate as low as Prime Rate(2)
  • Easy access by writing a check or transfer funds using AgFed online banking
  • No interest charged until Line of Credit is used
  • No closing costs*
  • Borrow up to 90% of your home’s value

Discover your home’s equity and get the money you need! Try our Home Equity Debt Consolidation Calculator to determine whether using the equity in your home to consolidate debt is right for you.

Home Equity FAQs

No Closing Cost Home Equity Loan

Loan Type Term Maximum LTV APR (1)(2)(3) as low as

 
Fixed

 
Up to 60 months

up to 80%
80.01 - 85%
85.01%-90%

5.75%
7.00%
7.75%

 
Fixed

 
Up to 84 months

up to 80%
80.01 - 85%
85.01%-90%

6.25%
7.50%
8.00%

 
Fixed

 
Up to 120 months

up to 80%
80.01 - 85%
85.01%-90%

6.25%
7.50%
8.00%

 
Fixed

 
Up to 180 months

up to 80%
80.01 - 85%
85.01%-90%

6.75%
7.75%
8.25%

 
Fixed

 
Up to 240 months

up to 80%
80.01 - 85%
85.01%-90%

7.00%
8.00%
8.25%

Example payment: The estimated monthly payment for a $20,000 home equity loan, up to 80% LTV with a 120 month term at a rate of 6.25% APR is $224.60.

No Closing Cost Home Equity Line-of-Credit

Loan Type Maximum LTV Maximum Term APR (1)(2)(3) as low as
Variable up to 80% 180 months 7.75% (Prime)
Variable 80.01% to 90% 180 months 8.75% (Prime + 1.00%)

 

(1) APR is Annual Percentage Rate. Rates are subject to change without notice. Rates effective as of 12/6/2023. Rate may vary as it is determined by an evaluation of credit, term, loan-to-value (LTV) and other factors.  All loans are subject to credit approval. Certain restrictions and conditions may apply. 

(2) APR is based on the Prime Rate published in the Wall Street Journal plus or minus a margin and based on evaluation of credit. Your actual APR will be disclosed at the time of credit approval. Not all applicants will qualify for the lowest rate. Prime Rate is 7.75% as of the effective date indicated above. 

(3) All mortgage requests that are in first position must have an escrow account in order for the remittance of taxes and insurance. Property must be located in any U.S. state or the District of Columbia, excluding HI, NY and TX. 

* The Credit Union currently waives the closing costs at loan origination, which is a conditional benefit being provided to you. The collection and recovery of these conditionally waived costs would only occur upon closure of the loan within 2 years of the origination. Minimum loan amount is $10,000. Maximum loan amount for 80% LTV is  $250,000. Maximum loan amount greater than 80% LTV is $150,000. Current AgFed Home Equity loans/ lines of credit being refinanced require a new minimum advance of $10,000. Collateral used in a Home Equity loan/ lines of credit must be occupied as the primary residence of the applicants. AgFed will not finance Home Equity Loans intended to be used for investment properties at this time. Not all properties will qualify as collateral. Certain conditions and restrictions may apply. 

Borrow

Your Partner for Life