Home Equity Loans

Smart Choice 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
  • Closing Cost Assistance! FedChoice will pay your closing costs as long as your line is open for 3 years.~
  • Fixed Rate
  • Interest may be tax deductible!^

Owner-occupied - primary residence only. Available in Delaware, District of Columbia, Maryland, New Jersey, Pennsylvania and Virginia.

The Smart Choice Home Equity Loan and the HELOC must be secured by the owner-occupied primary residence and is available in DC, DE, MD, NJ, PA and VA. 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.
~ Closing cost assistance when your payment is automatically deducted from your FedChoice Federal Credit Union account and your loan is open for three years. If the loan is closed before three years, the member will be required to reimburse FedChoice for all costs paid on their behalf. The cost of required property insurance, however, must be covered by the member. Otherwise, on average, closing costs typically range from $600 - $800 but may vary depending upon the amount of the loan, terms, property value, etc. FedChoice will cover closing costs (not including property insurance).
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.


Start here with our Concierge Form.


Call us at 301.699.6151 • 800.969.6151 to apply over the phone.


Visit the nearest Financial Service Center.

Rates at a glance

Fed Choice