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If you own a home, chances are you've got equity in your home. What's home equity? It's the difference between the value of your home and the current total dollar amount of your existing mortgage.
Home Equity Loans and Home Equity Lines of Credit (HELOC) have become popular means of financing a variety of needs ranging from home improvement projects to debt consolidation.
 We offer a variety of equity loan options including:
Home Equity Fixed Loans
A Home Equity Loan offers a one-time lump sum of money with a fixed
rate. A Home Equity Loan allows you to borrow up to 90% of the appraised value of your home.
Home Equity Line of Credit
A Home Equity Line of Credit (HELOC) is a variable-rate revolving line of credit that you can use over and over as you pay down the balance. A HELOC gives you:
- Lower interest and lower monthly payments. Interest
rates are usually lower than what you'd pay for other line of credit loans or credit cards - meaning you could save hundreds of dollars in interest and have lower monthly payments.
- Tax benefits. In most cases, interest on a home equity loan or line of credit is tax deductible. For details, check with your tax advisor.
- Easy access to your money. Once your credit line is established, call or stop by an LCCU branch to arrange for a cash advance or to transfer funds from your HELOC to your checking account.
5/20 Home Equity Loan
The 5/20 Home Equity Loan gives you the security of a fixed-rate loan with the advantages of lower monthly payments. The 5/20 loan offers a fixed loan amount with lower payments since the loan is amortized over 20 years. The rate is adjusted every five years.
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