Use Your Home to Your Advantage With a Home Equity Credit Line

Your home is likely the most valuable asset in your life, as it well should be - where you live is a safe haven for you and your family. As such, purchasing a home takes an amazing amount of capital that is generally paid back over several decades. Instead of tying up the equity in your home, use it to your advantage with a home equity line of credit! 

While a traditional loan depends on your credit rating and what a bank is willing to lend you, a home equity line of credit allows you to borrow directly against the equity you have in your home. With the possibility to draw money when you need it, a home equity loan from St. Cloud Federal Credit Union can be the the solution to your quick cash needs. 

A Home Equity Line of Credit is a form of revolving credit in which the equity in your home serves as collateral, allowing you to draw out money when you need it, without the need to visit the Credit Union.

• Transfers using online banking, mobile banking, or phone
• Use for any purpose, including education, home improvements and repairs,medical bills, emergency expenses, automobiles, and weddings.
• Application with home appraisal or tax appraisal
• Minor out of pocket expenses, including closing costs, title examination, and appraisal,that may be tax deductible
• Deductible interest payments
• Annual interest rate that is based on the Prime Rate +1%
• Interest due only on funds used
• No prepayment penalties 
• No annual fee

There's no reason that your most valuable asset can't work in your favor. Call today to speak to a Member Advisor and put your home equity to good use with help from St. Cloud Federal Credit Union!