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Home Equity Line-of-Credit

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*Applying for a loan as a nonmember also submits a membership application. You must be a member of FedChoice to receive a loan from us. Review membership criteria here.

 


How Low Can We Go?


  • Competitive variable interest rates.
  • Lines-of-Credit are available up to $250,000.
  • Lines are available up to 90% CLTV.+
  • Interest may be tax deductible!^

Home Equity Lending provides a convenient source of funds for members who have a need for often significant levels of financing. A Home Equity Line is a Line-of-Credit secured by the equity in your home. At FedChoice, our Home Equity Lines have a ten (10) year draw period and then a fifteen (15) year re-payment period. What this means is that you can borrow on and pay down your line as often as you would like during the first 10 years. At the end of the 10 years, you can’t borrow anymore but you have 15 years to pay off the balance.

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* The Classic Home Equity Line-of-Credit is based on The Wall Street Journal Prime. Rate adjusted monthly. The Classic Home Equity Line-of-Credit is subject to a floor of 4.00% APR.
‡ Variable rate is based on The Wall Street Journal Prime. Rate adjusted monthly.
The Smart Choice Home Equity Loan and the HELOC must be secured by the owner-occupied primary residence. Homeowner’s insurance is required. All loans are subject to credit approval.
^ Consult with your tax advisor regarding the deductibility of interest and charges. The interest on the portion of the loan that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. Other conditions apply.
+ CLTV = Combined Loan to Value.

Current_Members_Apply_Here_ButtonNot_A_Member_Apply_Here_Button

Start Your Application Online NOW!
*Applying for a loan as a nonmember also submits a membership application. You must be a member of FedChoice to receive a loan from us. Review membership criteria here.

Current_Members_Apply_Here_Button

Start Your Application Online NOW!

Not_A_Member_Apply_Here_Button

*Applying for a loan as a nonmember also submits a membership application. You must be a member of FedChoice to receive a loan from us. Review membership criteria here.

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Call us at +1-301-699-6151 / +1-800-969-6151
to apply over the phone.

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Visit the nearest Financial Service Center
to apply in person!

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