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Home Equity Loans

Reap the benefits of homeownership and use your equity to help make your home even more enjoyable.      

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For a limited time, receive a 5 Day/ 4 Night Cruise Certificate for Two(4) to Mexico, The Bahamas or the Western Caribbean when you establish a new Home Equity Loan with a minimum balance of $25,000(5) or new or existing Home Equity Lines of Credits, a minimum, one-time advance of $25,000(5).

From upgrading to your dream kitchen, consolidating debt or even paying for college expenses, AgFed has the borrowing solutions you need with our fixed rate Home Equity Loan or flexible Home Equity Line of Credit.  

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

  • Revolving line of credit with up to 7 years access with a 15 year repayment period
  • Variable rate as low as Prime Rate(3)
  • 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%

4.99%
5.49%
5.99%

 
Fixed

 
Up to 84 months

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

5.49%
5.99%
6.24%

 
Fixed

 
Up to 120 months

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

5.49%
5.99%
6.24%

 
Fixed

 
Up to 180 months

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

5.74%
6.24%
7.24%

 
Fixed

 
Up to 240 months

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

5.99%
6.49%
7.49%

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 5.49% APR is $216.98.

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 5.25% (Prime)
Variable 80.01% to 90% 180 months 6.25% (Prime + 1.00%)

 

(1) APR is Annual Percentage Rate. Rates are subject to change without notice. Rates effective as of 08/5/2019. 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 5.25% 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. 

(4) This is a limited time offer. AgFed reserves the right to withdraw this offer at any time without notice. Cruise certificate is for the cruise only and does not include airfare or transportation to and from the port. All port charges, taxes, customs and fulfillment fees of $39.60 per day/ per person will be the responsibility of the recipient of the certificate. A non-refundable $19 per person registration fee (total $38 total per certificate) is required with your registration form. Recipient must complete the cruise registration form within 45 days. Certificate expires eighteen months from date of issue. The certificate cannot be replaced, is non-refundable, and has no value, if lost, stolen, destroyed, or expired. Additional restrictions and conditions may apply. Please refer to cruise certificate for complete details. Void where prohibited. 

(5) For home equity loans, a minimum loan amount of $25,000 is required to receive offer. For new or existing Home Equity Lines of Credits, a minimum, one-time advance of $25,000 is required to receive offer. Previously funded loans or advances do not qualify. Certain conditions and restrictions may apply. 

* 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. Not all properties will qualify as collateral.