HOME EQUITY LOAN
You could be standing on a pile of cash!
A home equity loan is a fixed-rate mortgage product with a principal and interest payment, featuring terms of up to 15 years. The loan borrows against a portion of your current home through equity/appreciation (an increase in the value of your home over time) and previous payments on your mortgage. You have home equity when your home's value is higher than what you owe on your mortgage. Then, you can borrow against that value to finance remodeling, educational or medical expenses, emergency situations, debt consolidations, and more.
Home Equity Loans offer benefits such as:
- Your money comes in one lump sum. You'll get the value of your loan in one payout. This is particularly beneficial for homeowners who are looking to finance home improvement projects or individuals who are paying for medical or large educational expenses.
- It's a fixed, monthly payment. Your interest rate will never change, and you pay monthly - just the same as you would on a mortgage. If you are using the funds from this loan to pay off debts, you may benefit from the single monthly payment structure.
Helpful Links
Mortgage Department:
Phone: 616-261-5657 (option 2)
NMLS# 691882
MortgageTeam@CommunityWestCU.org
Note: email is not a secure communication medium, and users should not submit confidential information via email.
Your Next Project Awaits
Just 10 Days to Close. Some People Spend More Time Picking Out Paint Colors.
Whether you're tackling a home improvement project, consolidating debt, or covering a major expense, waiting weeks for financing isn't always an option. Our fixed-rate Home Equity Loan can close in as little as 10 days, giving you quick access to the equity you've built in your home. With a competitive 5.99% APR, a fixed 10-year term, and loan amounts starting at $10,000, you can move forward sooner and with confidence.
*APR = Annual Percentage Rate. $10,000 minimum loan amount. 10-year term. Rates and terms subject to change. All loans subject to approval. APR may be higher depending on your application. Appraisal may be required. Payment per $1,000 borrowed at 5.99 % APR is $11.10 per 120-month term. Certain loans may have more requirements. Equal Housing Opportunity.