Home Equity Loans

Spending your savings on a major expense doesn’t always make sense.

A better solution for homeowners may be a Prime Home Equity Line-of-Credit (HELOC) or a Single Advance Home Equity Loan from DCECU. A HELOC or Home Equity Loan can be used for major purchases, remodeling projects, home repairs, emergencies, or to pay off higher-rate debt. Plus, they both qualify for the potential year-end Member Giveback and Loan Interest Rebate1.

Both the Prime Home Equity Line-of-Credit and Single Advance Home Equity Loan offer loan amounts up to $250,000 and are available on primary and secondary homes.2

To learn more, stop by or call us.

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Prime Home Equity Line-of-Credit

Effective January 1, 2019
Draw Period Rate APR3
10 years 5.500%4 5.500%4
  • Maximum Percentage Financed: 90%
  • Maximum Loan Amount: $250,000

Single Advance Home Equity

Effective June 6, 2019
Maximum Term Rate APR3
5 years 5.250% 5.426%
10 years 5.375% 5.468%
15 years 5.625% 5.691%
  • Maximum Percentage Financed: 90%
  • Maximum Loan Amount: $250,000
  • Borrow $20,000 at 5.625% with 180 monthly principal and interest payments of approximately $164.75.
  1. While year-end rebates and rewards occur with great regularity, this credit union benefit is not guaranteed. ↩︎

  2. Limited to developed, non-agricultural, non-income producing homes located within Michigan. Other loan limitations may apply. ↩︎

  3. APR = Annual Percentage Rate. APR based on a no point $20,000 loan. ↩︎ ↩︎2

  4. Varies quarterly based on the Wall Street Journal® prime rate + 0.00% in effect on the 25th of the month preceding the end of the calendar quarter. The potential maximum rate is 18.00%. ↩︎ ↩︎2