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Types of Home Equity Loans


Home Equity Line of Credit

It's all about what you want and when you want it with a Home Equity Line of Credit.

A Home Equity Line of Credit enables you to use the equity in your home as collateral to make advances on a line of credit for an agreed period of time. Similar to a credit card, the advances made are not to exceed the credit limit.

Please note that this product is not available in Texas.

Features

  • Adjustable and Interest-only products available
  • ECU pays the majority of your fees
  • Easy access to your Home Equity Line of Credit with the Equity Express® Debit Card
  • Minimum loan amount of $10,000

 


Equity Express® Debit Card

 

It's all about convenience with the Equity Express® debit card. Use the card like you would a Visa® debit card to make purchases or cash advances. It's available on most of our fixed, adjustable and interest-only Home Equity Line of Credit loans. Ask your ECU mortgage loan specialist to open your Equity Express® at the time you are approved for a Home Equity Line of Credit.

Please note that this product is not available in Texas.


Home Equity Loans

 

Whether you have a lot of equity in your home or just a little, ECU has a home equity loan that's right for you. With a home equity loan, you can use the equity in the home as collateral. These loans are useful in financing major events such as home repairs, medical bills or college education expenses.

Features

  • Minimal closing costs
  • Up to 100% financing*
  • No prepayment penalty

*Maximum loan-to-value is 80% on manufactured homes and 80% for homes in Texas.

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NMLS     |     FAIR HOUSING

 

Eastman Credit Union

2021 Meadowview Lane

Kingsport, TN 37660

(800)999-2328

    morloan@ecu.org

 

NMLS     |     FAIR HOUSING