Home Equity Loan
- Borrow $5,000 to $250,000
- 5, 10 and 15 year options
- 80% LTV+ for 1st liens.††
- 80% and 90% CLTV* options for 2nd liens.
- No pre-payment penalty
- Fixed Rate
- Interest may be tax deductible!^
Owner-occupied - primary residence only.
† 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.
+ LTV = Loan to Value.
†† 1st Lien Smart Choice Home Equity Fixed Rate loans are limited to a maximum value of 80%.
* CLTV = Combined Loan to Value.
^ The statements above should not be relied upon without the advice of a Professional Tax Advisor. Interest payments on this loan may be tax deductible depending upon the facts and circumstances. This is not intended to be tax advice.


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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.