Home Equity Loans

Raise the roof with low rate home equity loans & pay no closing costs*

Use a GCCU home equity loan to access the equity in your home to fund home improvements, pay for tuition, consolidate high interest debt, and more.

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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.

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*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.