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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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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(5)
  • One lump sum disbursement
  • Predictable monthly payments
  • Borrow up to 90% of your home’s value
  • Interest paid may be tax deductible – speak with your tax adviser

Discover your home’s equity and get the money you need!

Protect Your Investment, Your Family and Your Credit.

btn_ProtectYourself_1 Get your Home Equity Loan Protection Quote Today

Protecting what’s important in your life is easy and affordable with AgFed’s Member Loan Protection. This voluntary loan payment protection offers relief from financial burden of delinquency, default or foreclosure if a protected life event happens to you, such as, disability, involuntary unemployment or even loss of life. Speak with a representative today to enroll.

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 cost(5)
  • Borrow up to 90% of your home’s value
  • Interest paid may be tax deductible – speak with your tax adviser

Discover your home’s equity and get the money you need!

Home Equity FAQs

No Closing Cost Home Equity Loan

Loan Type Term Maximum LTV APR (1)(3)(4) as low as

 
Fixed

 
Up to 60 months

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

3.74%
4.24%
4.74%

 
Fixed

 
Up to 84 months

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

4.24%
4.74%
5.24%

 
Fixed

 
Up to 120 months

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

4.24%
4.74%
5.24%

 
Fixed

 
Up to 180 months

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

4.49%
4.74%
5.99%

 
Fixed

 
Up to 240 months

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

4.74%
5.24%
6.74%

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 4.24% APR is $204.81.

No Closing Cost Home Equity Line-of-Credit

Loan Type Maximum LTV Maximum Term APR (1)(2)(3)(4) as low as
Variable        up to 80% 180 months            4.00% (Prime)
Variable 80.01% to 90% 180 months 5.00% (Prime + 1.00%)

 

(1) APR is Annual Percentage Rate. Rates are subject to change without notice. Rates effective as of 03/17/2017. 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.  Not all applicants will qualify for as collateral.

(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 4.00% as of the effective date indicated above.
(3) 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 4.00% as of the effective date indicated above. 
(4) 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 the continental U.S. or the District of Columbia, excluding HI, NY or TX. 
(5) Minimum balance requirements exclude refinancing or current AgFed loans. 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.

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