Up
Down
Genisys Credit Union
Genisys« Credit Union Go to main content Login
LOANS
Open An Account

Apply for a Loan

Apply for a Mortgage

Ask Genisys

Which Home Equity Loan Is Right For Me?

 

   

Fixed-Rate Home Equity Loan

 

Variable-Rate
Home Equity Line of Credit

Choose this loan if you:  
  • Have a set amount you need to borrow
  • Want to know exactly what your monthly payments will be over the term
 
  • Want to borrow on an as-needed basis (for emergencies, vacations, or other expenses)
  • Are comfortable with payments that vary based on the amount borrowed
With this loan, you can:  
  • Borrow up to 95% of your home’s appraised or assessed value, or 90% of your home's appraised value less the outstanding first mortgage balance
  • Enjoy low fixed rates
  • Choose from terms up to 10 years
 
  • Borrow up to 90% of your home’s appraised or assessed value less the outstanding first mortgage balance
  • Benefit from a rate that’s lower than many other loans
  • Pay interest, only when you have a balance.
       

Note: As you repay funds, they become available
again for you to borrow.

Closing Costs
There are minimal closing costs charged once your loan is funded.  Those costs can be taken from the first draw, loan proceeds, or paid directly at closing.

Contact Us for more information Which Home Equity Loan Is Right For Me?

 


FAQs on common Home Equity Loan concerns

Q.  What can the funds be used for?

Return to Home Equity Loan Page

Go to main navigation
Genisys-FacebookGenisys-TwitterGenisys-YouTubeGenisys-InstagramGenisys-LinkedIn