Home Equity Loans

Put your home to work for you!  Use the equity in your home to get you the cash that you need.  Some reasons to consider a home equity loan:

  • Pay College Tuition
  • Make some long overdue home improvements
  • Pay off high interest rate debt
  • Purchase a vehicle

The possibilities are endless.  BFCU offers Home Equity products to suit your needs and your budget.

Home Equity Line of Credit

Put the equity in your home to work for you with a revolving line.

  • Borrow up to 80% of the equity of your home minus first mortgage balance
  • You can access your line by simply writing a check.  You can also access by making transfers to your checking or savings account.
  • Interest may be tax deductible**
  • Low variable rate
  • Access your line the first three years
  • 10 year term
  • No prepayment penalties

Fixed Rate Home Equity Loan

For people who want the security of a fixed rate and a onetime disbursement of funds

  • Borrow up to 80% of the equity of your home minus first mortgage balance
  • Interest may be tax deductible**
  • Rate is fixed for the life of the loan
  • Terms up to 20 years
  • No prepayment penalties

**check with your tax advisor

Baker Federal Credit Union, and its mortgage loan originators, is registered under the National Mortgage Licensing System (NMLS)

NMLS Identification Numbers
Jolene Andreeko, Senior Loan Officer: 488261
Jessica Fallon, Senior Loan Officer: 488263

Edna Lewis, Branch Manager/Loan Officer

Baker Federal Credit Union

851114

462239

 

 

   

For more information regarding the National Mortgage Licensing System, please visit:  www.nmlsconsumeraccess.org

Apply for a Loan  Loan Rates