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Home Equity Lending | Prices & Application
The opening of a home equity line of credit or taking out a home equity loan is a great way to get paid for the great things that can enhance the lives of your families, such as College lessons, a dreaming holiday or setting up a company. Because you lend against the value of your home, your interest usually is quite low.
These are two kinds of home equity product - home equity credit and credit line. Each product uses the capital you have in your home as security and serves as a second hypothec. Home equity line or credit does not have to be with the same borrower who has your first homeowner' lien.
Home-equity Credit lines of the credit line
The Home equity line of credit (HELOC) gives you easy acces to the capital of your home, whether it' your own or your own, to help you cover the big costs of your lifetime. HELOC is a twenty-year term credit divided into two cycles known as your drawing cycle (first 10 years) and your repayment cycle (next 10 years).
Home-equity credit line of credit line
Make use of your own capital resources. As well as mortgages and our First Time Homebuyer programme, the Founders Federal Credit Union provides another way for home-owners to make the most of their investment. With our Home Equity credit line, you can use the capital you have accumulated in your company. Home Equities Line of Credit (or HELOC) is an intelligent, agile and accessible way to leverage your home's capital.
You use your own funds as security for a credit line that can be used for a wide range of needs. But there are many good reason why house owners should select a HELOC as part of their overall finance policy. Ideal for recurrent expenditure such as schooling, health care and DIY. It is up to you to determine how you use your credit line.
Competeable interest rates. Home-equity credit lines often have better interest rates than other forms of credit. You can use your funds if you need them up to your authorized credit line. Let us approve you once and benefit from the advantages for years to come. Easy cash management through Current Account, Founders Online, Call 24 and Equity Line Checks.
Payment can be made with Payroll Deduction, Founders Online, Call 24, in hand at any Founders Office or by post. You can call 1-800-845-1614 or pay a call to one of our South Carolina or North Carolina office to find out how the Founders Federal Credit Union can help you use your capital to your benefit.
They will take a look at your overall finances and help you determine whether a HELOC is right for you.