Home Equity Loans
Home Equity Loans
DREAM BIG.
We’ll lend you a hand.
Whether you need to consolidate debt, fund college tuition, or remodel your home, you can use one of our Home Equity Loan options to ease financial burdens and make life more comfortable.
New! Fixed Rate Home Equity Loan
A new home loan program to help SESLOC members lock in rates on second mortgages.
With a fixed rate, you have the advantage and security of knowing your rate and your monthly payment will not change for the term of your loan. Features include:
- Affordable fixed rate
- 20 year term1
- Fast pre-approvals
- Easy online application
Fixed Rate1
as low as
6.003%
for a 20-year fixed rate home equity loan.
Adjustable Rate Home Equity Loan
Compared to our new fixed rate loan, our classic home equity loan has a lower initial interest rate, which means lower monthly payments. Even after the initial rate hold period, rates cannot adjust more than 1% annually or 5% over the life of your loan.² Features include:
- 5 year rate hold
- 20 year term 2
- Rate adjusts annually after the initial rate hold
- Rate caps to provide added security
- Fast pre-approvals
- Easy online application
Rate Index: One Year Constant Maturity Treasury – 1% Annual Rate Cap / 5% Lifetime Rate Cap
Adjustable Rate2
as low as
6.330%
for a 20-year adjustable rate home equity loan.
1. For a fixed rate home equity loan in the amount of $100,000 for 20 years with an initial interest rate of 5.500% (APR 5.751%*), the estimated monthly payment would be $687.89. Payment examples are based on a set of loan assumptions and are for illustrative purposes only and exclude taxes and insurance. Actual rate, APR and payments will vary based on final loan terms and may be higher. Refer to the Payment Calculator to estimate additional payment examples.
2. For an adjustable rate home equity loan in the amount of $100,000 for 20 years with an initial interest rate of 5.000% (APR 5.544%*) for the first five years, the estimated monthly payment would be $659.96. Payment examples are based on a set of loan assumptions and are for illustrative purposes only and exclude taxes and insurance. Rates, APRs and payment amounts are subject to change based on changes in the rate index, the One Year Constant Maturity Treasury (CMT) Rate, and may increase after consummation. Actual rate, APR and payments will vary based on final loan terms and may be higher. Refer to the Payment Calculator to estimate additional payment examples.
*APR = Annual Percentage Rate
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Request a complimentary consultation with one of our Mortgage Loan Officers. Whether you want to purchase a home, refinance your mortgage or just check out your options, we're here to here to help you make informed decisions. Simply fill out our form and we'll contact you shortly.
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Looking for a Home Equity Line of Credit?
Rather than one lump sum, a HELOC allows you to draw funds as needed.
Home Loans
From the News+ Blog
7 Ways to Use a Home Equity Loan
A Home Equity Loan leverages the equity you’ve built in your home to get access to funds at a lower rate than other loan types. A Home Equity Loan is a closed-end loan, meaning you get a lump sum and repay it with interest over a specified term.
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Savings are insured to at least $250,000 and backed by the full faith and credit of the U.S. government. National Credit Union Administration, a U.S. government agency.