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Home Equity Loans/Lines

Take advantage of the equity in your home

Find the right option for you

Access the equity in your home and use it to fund home improvements, major expenses, debt consolidation or even a much deserved vacation.

Fixed Home Equity Loan

Cover a large expense or home project all at once. This loan option can also help you to consolidate debt at a lower rate to help you save more while paying it off faster. Learn more

  • Fixed rate and payments
  • Repayment terms up to 15 years
  • Borrow up to 90% of property value

Apply Online

Home Equity Line of Credit

Borrow funds against your home's equity when you need it. This is a great option for ongoing home improvement projects, sudden expenses, or just to have quick access to your funds in case of an emergency. Learn more

  • Borrow up to 90% of property value
  • Enjoy a competitive variable rate
  • 10-year draw and up to 15-year repayment period
  • Maximum loan amount of $350,000

Apply Online


Rates as of:
Home Equity TypeTermAPR***
Home Equity Installmentº*
(up to 90% property value)1
Up to 15 years 3.99% - 6.50%
Home Equity Line of Credit+
Up to 25 years.10-year draw period and up to 15-year repayment period. 4.00% - 12.00% (variable rate)
No Equity Home Improvement Loanoo Up to 60 months 7.50%

1. Some housing exceptions may apply.

oPayment example: On a $20,000.00 loan with a 5 year term up to 90% property value at 3.99% APR, monthly payments would be $368.25. Closing costs range from $500 to $2,000. Maximum loan amount is $350,000.

ooMaximum loan amount is $25,000. A minimum credit score of 680 is required to obtain this loan. Offer is subject to normal credit qualifications. Payment Example: On a No Equity Home Improvement Loan with a term of 5 years at 7.50%APR, monthly payments would be $500.95.

*Actual rate based on applicant's payment and credit history. Additional appraisal fee may apply should one be needed.

+Minimum Annual Percentage Rate (APR) Floor of 4%. Maximum APR is 12%. APR calculation is subject to change monthly and is based on the Prime Rate as published in the Wall Street Journal. Required payments are calculated at 1% of the outstanding balance. Maximum loan amount is $350,000 with a 10-year draw period and up to 15-year repayment period. Minimum credit score of 660 is required. Properties must be owner-occupied. Eligible property types include SFD and Townhomes (up to 90%), and condos (up to 80%); Not eligible for multi-family properties. Some housing exceptions apply. Closing costs range from $500 to $2,000. Maximum loan amount is $350,000.

***APR= Annual Percentage Rate.

 

Why choose Ideal Credit Union

What people are saying

"The process of buying a home alone is stressful and confusing but Ideal Credit Union made the process so much easier. Everyone was very quick and informative, and answered all of our questions. Would highly recommend."

-Mary L., Ideal CU Member

Why choose Ideal Credit Union

What people are saying

"Ko Xiong was Great! He was so knowledgeable, always available to answer questions and kept us well informed during the whole process. We love our new home! Thank you Ko and Ideal Credit Union!!!!"

-Kelley B., Ideal CU Member

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Fixed Rate Home Equity Loan: Some housing exceptions apply. Payment example: On a $20,000 loan with a 5 year term up to 90% property value at 3.99% Annual Percentage Rate (APR), monthly payments would be $368.25. Maximum loan amount is $350,000 and maximum loan term is 15 years.

Home Equity Line of Credit: Minimum Annual Percentage Rate (APR) Floor of 4%. Maximum APR is 12%. APR calculation is subject to change monthly and is based on the Prime Rate as published in the Wall Street Journal. Required payments are calculated at 1% of the outstanding balance. Maximum loan amount is $350,000 with a 10-year draw period and up to 15-year repayment period. Minimum credit score of 660 is required. Properties must be owner-occupied. Eligible property types include SFD and Townhomes (up to 90%), and condos (up to 80%); Not eligible for multi-family properties. Some housing exceptions apply. Closing costs range from $500 to $2,000. Maximum loan amount is $350,000.

2020 - 21 Holiday Hours

Martin Luther King, Jr. Day

Monday, January 20th
All locations closed.


President's Day
Monday, February 17th
All locations closed.


Good Friday
Friday, April 10th
All locations open regular business hours
Lobby - 9:00 a.m. to 5:00 p.m.
Drive-thru - 9:00 a.m. to 5:30 p.m.


Memorial Day
Monday, May 25th
All locations closed.


Independence Day
Saturday, July 4th
All locations closed.


Labor Day
Monday, September 7th
All locations closed.


Columbus Day
Monday, October 12th
All locations closed.


Veterans Day
Wednesday, November 11th
All locations closed


Thanksgiving Day
Thursday, November 26th
All locations closed.


Day after Thanksgiving
All locations are open regular business hours
Lobby - 9:00 a.m. to 5:00 p.m.
Drive-thru - 9:00 a.m. to 5:30 p.m.


Christmas Eve
Thursday, December 24th
All locations open until 1:00 p.m.
Lobby - 9:00 a.m. to 1:00 p.m.
Drive-thru - 9:00 a.m. to 1:00 p.m.


Christmas Day
Friday, December 25th
All locations closed.


New Year's Eve
Thursday, December 31
All locations open regular business hours
Lobby - 9:00 a.m. to 5:00 p.m.
Drive-thru - 9:00 a.m. to 5:30 p.m.


New Years Day (2021)
Friday, January 1st
All locations closed