Got big plans? Your home's equity could be the key to opening up possibilities.
Sometimes you need cash for serious matters. And sometimes you want it for some serious fun. With a Home Equity Loan or Line of Credit, you can go either way. Learn how your home's value helps you qualify for a credit line that can pay for major repairs, home renovations, college tuition, family trips, or anything else life brings your way.
Home Equity Loan
- Borrow a specific amount and receive it as a lump sum
- Access up to 100% of your home's appraised value, less any mortgage owed, which is more than many other financial institutions offer
- Convenient terms fit your monthly budget
- No annual fee or closing costs
Home Equity Line of Credit
- Borrow money whenever you wish over a period of 10 years
- Credit limit is up to 100% of your home's appraised value, less any mortgage owed
- Competitive interest rates that are lower than most credit card rates
- No annual fee or closing costs
- Access funds through checks, online and mobile banking and at Afena Federal Credit Union locations
- Pay interest only on the portion of the credit line in use
- Credit lines are often used to pay down higher interest debt and credit card balances
Afena Federal Credit Union is a full-service financial institution headquartered in Marion, IN that serves Grant, Wabash, Blackford, Jay, and Wells counties.
