Home Equity Loans
Home Equity Loan Overview
Low Closing Fees
Home Equity under $150,000
Terms up to 240 months
Fast and Easy Loan Approval
No appraisal required
Fixed Rates
No Prepayment Penalties
What is a Home Equity Loan?
As you make improvements to your house and continue mortgage payments, your home builds up equity. A Home Equity Loan lets you access the value, using it as collateral for a loan. Basically, you borrow a lump sum based on the value built up in your home at a fixed rate, typically lower than you would with a personal loan or credit card, and pay the loan back over a set term.
What Can You Use a Home Equity Loan For?
A Home Equity Loan from Scott & White Employees Credit Union is your tool to give you the financial boost you need.
Conquer Debt: Consolidate high-interest debt into one lower monthly payment, making it easier to manage.
Home Renovation: Inside or out, make updates and renovations to your home, which helps its value in the long run.
Life's Big Expenses: Cover medical bills, education costs, or other unexpected needs that pop up.
Larger Purchases: Finance a new car or take a vacation without breaking the bank.
Energy Upgrades: Make energy-efficient upgrades to your home that can save you money on utilities in the long run.
Getting Started with a Home Equity Loan
Getting started with a Home Equity Loan is as easy as applying for a loan online. There’s no appraisal required, which helps speed up the loan process, and you can borrow up to $150,000 based on your home’s equity. Once your Home Equity Loan is approved, you’ll receive the loan amount in one lump sum after closing, then make fixed monthly payments over the chosen term.
Ready to get started? Fill out our online application. If you have any questions, don’t hesitate to reach out directly.