HOME EQUITY LINE OF CREDIT

When you need extra cash, why not look to the very place that makes you feel most secure and comfortable - your very own home!

With our home equity line of credit, you’ll enjoy a ready cash reserve that’s available whenever you need it. You can borrow up to 100% of the value of your home, less your mortgage balance. Use as much as you want, when you want it. And best of all, you pay interest only on what you borrow! And in many cases that interest can be deducted on your federal and state tax returns. There's almost no limit to what you can do with a home equity line of credit from DFECU.

• No Application Fee!
• No Closing Cost!
• No Annual Fee!
• Borrow Up to 100% of Appraised Value!
• Property Must Be Your Primary Residence and Located in Michigan!
• Monthly Payments are $16 per $1,000!
• Maximum Home Equity Line of Credit Amount is $200,000; the minimum loan is $5,000!
• Conditional Approval within 24 hours! (Complete process takes one to two weeks)
• You will be mailed a book of checks to access your line of credit.
• The minimum cash advance, and the minimum amount a check can be written for is $300.
• Maximum interest rate 18.0% Annual Percentage Rate

So go ahead, add a new deck, or redo a room. Fix a leaky roof. Pay your kids' tuition bills. Buy that new car or truck you've been looking at. Consolidate bills and lose those high-interest credit card payments.

Check out our current Home Equity Line of Credit rate!

Apply at a branch office.