Home Equity Loans
Owning your home has advantages. When you need to draw on your home’s equity, UKFCU has home equity loan options and great loan rates to fit your needs. Whether you’re fixing the roof, making home improvements, or need extra funds to send your child to college, a home equity loan or home equity line of credit (HELOC) can help.
We offer two home equity loan options:
- Fixed Home Equity Loan
- Fixed loan amount with low home equity loan rate
- Level repayment schedule
- No prepayment penalties — additional payments can be made at any time
Flexible Home Equity Line of Credit (HELOC)
- Draw on your equity only when you need it
- 10 year revolving draw period with a maximum 10-year repayment term
- No prepayment penalties, additional payments can be made at any time
- Funds can be accessed by check, Mainline, Online Banking, or in person
- No annual fee
- Low home equity line of credit rates
Eligibility for both home equity loans and home equity lines of credit requires that your home is owner-occupied and located in Kentucky. Consult your Tax advisor for possible tax benefits. Annual Percentage Rate (APR) is based on credit history and subject to change.
*If this is Investment Real Estate you will need to apply for a Business HELOC. Click here for Business Lending.
Now you can protect you and your family with Debt Protection from UKFCU.
Under the UKFCU Debt Protection program, your Home Equity Loan or Home Equity Line of Credit may be canceled or your monthly loan payments canceled without penalty or added interest if you become disabled or in the event of your loss of life.
Protection provides an important sense of financial security - knowing your loan will not become a burden to you in times of hardship.