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Home Equity Loans & Home Equity Lines of Credit       A free credit report for Genisys Credit Union members

 

Let your house pay you back.

Your house is an asset that can help you reach other financial goals.  When you have equity in your house, you can turn it into an affordable home equity loan or use it as a home equity line of credit to be used for things like home improvements, vacations, debt consolidation, college tuition and more.  A great advantage to a home equity loan or home equity line of credit is the minimal closing costs can be taken from the loan proceeds or paid directly at closing. 

 
"Thank you for the top notch service we received from Genisys. From being up front on costs to always available for questions, Genisys has made our mortgage experience pleasant and pain-free. We are grateful for our Genisys Credit Union."

Jessica & Christopher - Macomb, MI

Fixed-rate, fixed-term home equity loan – Apply once for a specific loan amount with a specific term.  Payments will be the same every month until the loan is paid off.  Perfect for members who want to borrow a certain amount and have set monthly payments

Variable-rate home equity line of credit –Apply for a credit limit that you can draw against in various amounts as needed.  Payments will vary from month to month.

Home Equity - Fixed Term
Effective Date: Tuesday, September 25th, 2018
Loan to Value up toAPR as low as*Approximate Term
80.00% 3.75% up to 3 years
80.00% 3.99% up to 5 years
80.00% 4.24% up to 7 years
80.00% 4.49% up to 10 years
95.00% 4.49% up to 3 years
95.00% 4.49% up to 5 years
95.00% 4.99% up to 7 years
95.00% 4.99% up to 10 years
*Rates and terms may vary depending upon credit qualifications and lien position. A full appraisal may be required depending on credit score. Certain criteria must be met to qualify for 95% LTV. Approximate monthly payment would be $29.41 per $1,000 borrowed at 3.75% for 36 months.

Home Equity Line of Credit
Effective Date: Tuesday, September 25th, 2018
Variable Rate
Loan to Value up toAPR as low as*Maximum APR
80.00% 4.75% 9.00%
90.00% 5.50% 9.75%
* Advertised rates are tied to the Prime Rate published in The Wall Street Journal and are based on your credit qualifications. Certain criteria must be met to qualify for 95% LTV.

FAQs on common Home Equity Loan concerns

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NMLS ID# 409008

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