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Home Equity Loans

Your home is more than a place to live—it can be a powerful financial resource! With an ABEFCU Home Equity Loan or Line of Credit, you can tap into the value you’ve built to fund the things that matter most, whether it’s home improvements, education, debt consolidation, or major purchases.

 

Home Equity Loan Options

 

Adjustable-Rate Home Equity Loan

  • Borrow a specific amount for 5, 10, or 15 years.
  • Adjustable rate with flexible payments.
  • Maximum CLTV of 75%.
  • Best for one-time expenses such as consolidating bills or making a large purchase.

 

Smart Home Equity Loans

  • Adjustable-Rate Smart Home Equity Loan
    • Loan amounts up to $100,000.
    • Maximum term of 10 years.
    • Maximum CLTV of 75%.
  • Fixed Rate Smart Home Equity Loan
    • Terms of 5 or 10 years.
    • Low fixed rate for the entire loan.
    • Loan amounts up to $100,000.
    • Maximum CLTV of 75%.
    • No prepayment penalty.

 

Home Equity Lines of Credit (HELOCs)

  • Home Equity Line of Credit
    • Adjustable-rate loan.
    • 25-year term (10-year draw period, 15-year repayment).
    • Maximum CLTV of 75%.
    • Access funds anytime by check or online transfer.
    • Useful for ongoing expenses such as home improvement projects or college education.
  • Smart Home Equity Line of Credit
    • Adjustable-rate loan.
    • 15-year term (5-year draw period, 10-year repayment).
    • Credit line up to $100,000.
    • Maximum CLTV of 75%.
    • Access funds anytime by check or online transfer.

 

Why Choose an ABEFCU Home Equity Loan or Line?

  • No closing costs (except where state or county mortgage tax applies).

  • Interest may be tax deductible (consult your tax advisor).

  • Borrow up to 75% of your home’s equity.

 

View Rates

Apply for a Home Equity line of credit

 
For more information, call our Real Estate Lending Officer at 516-763-7515 or send a message through our Secure Contact Form.

NMLS #615164













 

FAQs


What is the difference between a Home Equity Loan and a HELOC?

A Home Equity Loan provides a lump sum for a set term, while a HELOC works like a credit line you can draw from as needed during the draw period.


How much of my home’s equity can I borrow?

You may be able to borrow up to 75% of your home’s equity, depending on the product and your eligibility.

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Funds when you need them most.

Whether it's for a big purchase or unexpected expense, our personal loans offer solutions.

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