Home Equity Loans & Lines of Credit

Chesterfield Federal Credit Union is proud to offer the convenience of our Home Equity Loans & our First Choice Home Equity Line of Credit. 

With a quick application, a fast and easy approval process, a variety of payment options and great rates, Chesterfield Federal Credit Union is the only place you need to go when considering home equity products.

   

Why A Home Equity Product?
Our members come to us for their home equity needs for a variety of reasons. Whatever your reason may be, a credit union loan officer will  always sit down with you to discuss which product is best suited for your specific needs.  You can use the proceeds from your Home Equity Loan or Line of Credit for…

• Debt Consolidation

• Home Improvements

• School Expenses

• Dream Vacations

• Tax Payments

• Much more!

Chesterfield Federal Credit Union home equity products can save you money on interest charges too! Because the loan is secured by the collateral in your home, the interest rates on our home equity products are much lower than many other loans.  And the interest you pay may even be tax deductible!^ And that means more money in your wallet!
 

Why a FirstChoice Home Equity Line of Credit?
For members looking for flexibility with their home equity borrowing needs, we proudly offer our First Choice Home Equity Line of Credit.  With the Home Equity Line of Credit, you are given a specific credit limit, and you can access as little of or as much of the available funds as you would like. You can access your funds immediately online, by phone or in any Chesterfield Federal Credit Union location. There are numerous benefits of a First Choice Home Equity Line of Credit

You save on taxes.
In most cases, the interest from a home equity line of credit may be tax deductible so you save on taxes!^{^}

It’s flexible.
You can use as much or as little of your line as you want, whenever you need it.

You pay lower interest rates.
Other types of loans can carry much higher rates. Our line of credit is as low as Prime + 0%².

Your payments are protected.
Even if your rate increases, your payments will not. Payments are based on your outstanding balance at the time of advance.

The rate only changes annually.
Other home equity lines of credit may change monthly or quarterly with the prime rate.

	Name Phone Number E-mail Address Comments

  

Current Home Equity  Rates	APR1
Home Equity Loan	4.90%	Apply	Calculator
Home Equity Line of Credit2	5.00%	Apply	Calculator

DISCLOSURES

 1 Annual Percentage Rate. Lowest APR available with qualifying credit. Your rate may be higher and is based on credit score and loan term. Rate is accurate as of 4/1/2012.
² Rate is as low as Prime+0%. The initial rate is tied to the Prime rate as published in the Wall Street Journal. However, when prime rate is below 5.00%, the lowest rate available is 5.00%. The rate is variable and may change at annually on the anniversary of your line of credit. Your rate may vary from that shown above and is based on creditworthiness. As of 4/1/2012, the prime rate is 3.25%.This is a variable rate line of credit and as such, the rate may change over the life of the line. Consult us for details. The maximum APR on this loan is 6% above the entry rate or 18%, whichever is lower. Equity based on 80% of assessed value less first mortgage balance. Subject to credit approval. Minimum line $5,000.00. Maximum line $100,000.00. Member must maintain homeowner's insurance at own expense. 
^ Consult your tax advisor for tax deductibility of finance charge.