Home Equity Loans
Access the equity in your home today!
Use a low rate GCCU home equity loan to fund home improvements, pay for tuition, consolidate high interest debt, and more. Apply today and pay no closing costs.*
Home Equity Installment Loans (HEIL) – Fixed Rate Loans
- Borrow up to 100% of your home’s value less any existing mortgage balance, based upon creditworthiness.
- Up to a 15-year fixed rate term. Your rate is fixed for whichever term you chose (5, 10 or 15 years).
- Property must be your primary residence.
- Doublewide mobile homes must be on land you own, affixed to a permanent foundation and less than 20 years old.
- Loans are subject to credit approval and offerings are subject to change.
Home Equity Line of Credit (HELOC) – Variable Rate Loans
- Borrow up to 100% of your home’s value less any existing mortgage balance, based upon creditworthiness.
- 20-year term with a 10-year draw period.
- No need to apply again for a loan during the draw period — your credit limit is available to you as the balance is paid down.
- You only make payments on the amount you have used, not the entire credit limit.
- Property must be your primary residence.
- Rates may change quarterly based on your margin and prime rate.
- Doublewide mobile homes must be on land you own and affixed to a permanent foundation.
- Loans are subject to credit approval and loan rates are subject to change.
Stop by one of our branches or call any GCCU branch to speak with a loan officer and learn more.
*Closing costs are waived unless the loan is discharged within 3 years of the origination date in which case you will be required to pay closing costs, which consist of the following: title search, flood determination, recording fees and appraisal. Subject to membership, credit and property approval. New York State mortgage taxes do apply. Some restrictions apply.