Use your home for financing
10 year home equity term loan
15 year home equity term loan
- Minimal closing costs
Most applicants receive up to $350 toward closing costs.4 Title insurance is generally not required.
- Competitive rates
- Property types
We work with conforming, nonconforming and nonconventional properties.
- Flexible underwriting
We understand that each borrower and every loan is unique.
- Stated assets
For most requests, we do not verify assets other than the value of the property.
- No credit score
We use many forms of nontraditional credit references.
Everence Federal Credit Union does its own loan servicing, which allows for flexibility in term, payment options and other factors.
- Insurance requirements
We accept all forms of Amish Aid and Mutual Aid policies.
Green home renovations
Qualified home improvements
- Solar panel systems
- Geothermal heating systems
- Double-paned, low-e windows
- Solar outdoor lighting
- Energy-efficient appliances
- Water-saving processes
- Wastewater efficiencies, recycling processes, composting
- Xerascaping – landscaping with plants, etc. that need little water
This is only a partial list. Speak with your loan officer to learn if your home improvement project qualifies.
Line of credit
Tap into your home
With a home equity line of credit, you can draw on the loan over time with no additional paperwork as you pay down the principal.
Everence Federal Credit Union, NMLS #403410
1 Minimum $25,000 in new money required to qualify for promotional rate. Closing costs range between $229.05-$1,029.05 depending on loan amount, appraisal requirements, and property location. Everence Federal Credit Union will provide a closing credit of $350.00 that will be applied at the time of loan closing. If the home equity line of credit is closed within the first 24 months, the credit will be charged at payoff. Property Insurance required. Terms, costs and conditions subject to change without prior notice. Applications subject to approval.
2 Sample term: If you borrow $25,000.00 at 2.99% APR for a 10-year term your estimated monthly payment may be $241.29.
3 Sample term: If you borrow $25,000 at 3.49% APR for a 15-year term your estimated monthly payment may be $178.60.
4 A credit of up to $350 will be applied toward closing costs for home equity loans of $25,000 and above. If the home equity loan is closed within the first 24 months, the credit will be charged at payoff.
3 Discount applicable with 10 year and 15 year fixed rate home equity loans. Documentation of home improvements required.