First Credit Union: First in Arizona - First in Service

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Home Equity Loans

First Credit Union

Home Equity Loan

Equity in your home is an excellent source of funds for your financial needs. A home equity loan with First Credit Union can allow you to finance your child's college education, consolidate bills or make home improvements. The best thing is that interest payments on equity loans are usually tax deductible, but always check with your tax advisor. First Credit Union Home Equity Loans are secured by the deed of trust on your home and feature:

  • Competitive, fixed rate
  • Loan terms of 2-15 years
  • Lump sum disbursement
  • Tax deductible interest

Apply for Home Equity Loan now

Home Equity Line of Credit

The First Credit Union Home Equity Line of Credit is a variable rate revolving credit line. As the balance is paid back it can be borrowed from again and again. The flexibility of a First Credit Union line of credit allows for a draw period of 10 years and a repayment period of up to 15 years, depending on the loan balance. Requirements include:

  • Arizona state residents only
  • Single family dwellings only
  • Primary residence, owner-occupied only (does not include land or mobile homes)
  • Homes with first mortgages with negative amortization are not eligible
  • Homes with interest only first mortgages are not eligible
  • Maximum loan to value 85%

Apply for Home Equity Line of Credit now