Home Equity Loans
Your best source of credit may be closer than you realize. The equity you've built in your home can help you at every stage of life - for major purchases, a new car, college tuition, debt consolidation, home remodeling or improvements, and more. And interest on home equity loans is usually tax-deductible. (Consult your tax adviser about the deductibility of interest.)
Premier Credit Union has two Home Equity options available for primary residences (owner-occupied) in Iowa, so you can choose the one that's perfect for you.
Variable Rate Home Equity Line of Credit (HELOC)
A HELOC, or Home Equity Line of Credit, is an open-end revolving line of credit secured by the equity you have built up in your home. A Premier Credit Union Home Equity Line of Credit offers you the following advantages:
- A low variable interest rate
- 30 year amortization
- Open ended line-of-credit - as you repay your balance, your credit line is available again for future use.
- Request a credit advance electronically (Available on loans funded after 02/01/08)
- Low closing costs
Fixed Rate Closed-End Home Equity Loan
If you prefer a fixed rate and term and have a specific project in mind - such as building a new pool, purchasing a boat or RV, or consolidating high-interest debt - choose Premier Credit Union's Fixed Closed-End Home Equity Loan. You'll enjoy the following benefits:
- A low fixed rate
- 5 to 15 year amortization
- One lump sum loan
- Regular monthly payments until balance is paid in full
- Interest rate and monthly payment remain the same over the life of the loan
- Low closing costs
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