New User?
Sign Up!
Home Equity Loans
Tap into the equity in your home for the things you need… and want!
With a home equity loan you may use the equity in your home to borrow a specific amount of money, for up to 15 years. The interest rate is fixed for the term of the loan, if written for 5 years or less. This is a 3-year adjustable rate mortgage program, however if your term is 5 years or less, it will be a fixed rate. The rate may be adjusted after the initial three year term.
Home Equity Line of Credit
A home equity line of credit (HELOC) provides a line of credit which you may draw funds from up to your maximum credit line, as needed. PCMCU’s home equity line of credit is a revolving line of credit up to $50,000. A single application gives you an ongoing credit source. Here are some reasons why a home equity line of credit is the smart way to borrow:
- No application fee or points
- No annual maintenance fee
- Low, competitive interest rate (See Rates)
- Very low closing costs