Got big plans? Unlock possibilities with your home's equity.
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.
