Closed-End Home Equity Loan | Collins Community Credit Union.
Collins Community Credit Union

Closed-End Home Equity Loan

Turn your vision into a reality 

Do you have a specific home improvement project you'd like to get done, like updating your kitchen or installing those hardwood floors? A Closed-End Home Equity Loan may be perfect for you! A Closed-End Home Equity Loan is a fixed-rate installment loan that you repay over a fixed term with equal monthly payments, just as you do with your mortgage loan.


Low fees

¹Low rates

 

 


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Important Legal Disclosures

Must meet membership eligibility requirements. Fixed APR.  AVM = Automated Valuation Model 

¹APR = Annual Percentage Rate. Rate may vary based on credit score, type of loan and term, and is subject to change. Must be or become Collins Community CU member to obtain loan. Rate includes Loyalty Discount of 0.25%. To qualify for the Loyalty Discount, member must setup automatic loan payments from their Collins Community CU Checking account. All loans subject to approval and based on credit. Home Equity Loans are available on owner-occupied dwellings located with the credit union's community charter. Proof of homeowners insurance required. Member will pay title search, flood search, recording fee and property valuation when applicable. **Minimum credit score required for 100% financing.  Payment example: $30,000 with a 5 year fixed rate, amortized over a 5 year term at 7.15% APR, the monthly payment will be $596.19.  Payment example: $30,000 with a 6 year fixed rate, amortized over a 30 year term at 7.50% APR, the monthly payment will be $209.85.  Payment example: $30,000 with a 10 year fixed rate, amortized over a 10 year term at 7.75% APR, the monthly payment will be $360.09.  Federally Insured by NCUA.

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