Home Equity Loans

We offer a fixed-rate home equity loan to help you finance your dreams. Whether you need to pay for home improvement, your big wedding day, a fun vacation, or college tuition, you can find financial solutions here at Blue Eagle Credit Union. 

Home Equity Fixed-Rate Loans

Home equity fixed-rate loans, also commonly called “second mortgages,” allow you to get a loan based on your home's value but for a fixed term and rate (as opposed to a HELOC's variable terms and rates). Unlike a home equity line of credit where you can draw on the loan as you need, with a fixed-rate loan, you'll receive one lump sum of money and then pay it back over the life of the loan.

These loans help you take care of large, upfront, and specific costs since you'll be borrowing a pre-determined amount. You can pay for both expected and unexpected expenses such as:

• Debt Consolidation

• Higher education tuition

• Short-term home repairs

• Wedding expenses

• Medical bills

• And more!

Fixed-rate home equity loans offer several benefits, including:

• Certainty: Monthly payments will remain the same throughout your loan's life, making it easy to budget for monthly expenses for the entirety of the loan.

• Protection from market changes: The interest rates are fixed on these loans, so you can enjoy stability and consistency even as rates move up and down in the market.

• Flexibility: You can use a fixed-rate home equity loan for any purpose, whether the expenses are planned or unplanned.

Blue Eagle Credit Union has home equity fixed-rate loans with terms of up to 15 years for qualified borrowers. We can also loan up to 100% of your home's value based on the most recent appraisal.*

*(Payment example: $50K loan, 6.00% interest rate, 15-year term, $421.93 monthly payment and 6.049% APR)