Equity Loans and Lines of Credit

Let your home foot the bill for anything you wish with a Home Equity Loan or Line of Credit from Ohio Catholic Federal Credit Union! We’ll help you turn your built-up equity into the cold, hard cash you need for home renovations, debt consolidation, college tuition, a dream vacation, and more!

Home Equity Lines of Credit

Home Equity Lines of Credit allow the flexibility to borrow only what you need, when you need it. No interest payments are paid for money that is not used. The variable interest rate is based on the prime interest rate posted in the Wall Street Journal. Rates will depend on credit limit, credit qualifications, and loan-to-value ratio. Here are the specifications:

  • Credit Line Up to $200,000
  • 10 Year Draw Period
  • Repayment Period up to 240 Months (20 years) that is an additional 10 years beyond the 10-year Draw Period
  • Low Minimum Payments
  • Check and Home Equity Credit Card Access
  • Competitive Variable Low Rates
  • Fast and Easy Approval Process
  • No Prepayment Penalty and No Early Termination Penalties if HELOC is kept open for two years or more
  • No Transaction Fees
  • Up to 100% Loan to Value (LTV) Ratio

Home Equity Loans/Fixed Second Mortgage

Home Equity Loans or Fixed Second Mortgages allow you to borrow what you need with a fixed rate and payment for the life of the loan. The rate for the loan will depend on credit limit, credit qualifications, and loan-to-value ratio.

  • Loans up to $200,000
  • Terms from 5 Years to 15 Years
  • Competitive Low Fixed Rates
  • Fast and Easy Approval Process
  • No Prepayment Penalty and No Early Termination Penalties if HEL is kept open for two years or more
  • Up to 100% Loan to Value (LTV) Ratio
  • Low Minimum Payments

It’s time your home started earning its keep! Get started on your Ohio Catholic Home Equity Loan or Line of Credit right from the convenience of your comfy couch.