If you are looking to borrow money for home renovations, bills or other expenses a home equity loan or line of credit may be a great option for you! A Home Equity Loan lets you borrow money from the equity in your home for a lower interest rate. This is a great option for the borrower that has wants to know exactly how much they will be paying each month.

Home Equity Line of Credit

Benefits include:

  • Ideal way to obtain large sums of cash based on the equity in your home

  • Open end line of credit with a variable rate

  • Lets you borrow up to 90% of the appraised value of your home. The minimum loan amount is $5000.

    *Credit restrictions apply. HELOC is available up to 90% of appraised value of home. Minimum loan amount = $5000. No annual fee applies. No closing costs. The HELOC rate is based on prime rate for 80% and prime + 1.50% for 80.01%-90% LTV and subject to change. A mortgage will be placed on the home for the line of credit limit. Federally Insured by NCUA.

Fixed Rate Equity

Hopewell Federal offers a fixed rate home equity loan that offers:

  • Competitive fixed rate

  • Borrow up to 90% of the appraised value of your home