Home Equity Loans

Whether you’re thinking about renovating your home, planning on taking the trip of a lifetime, or taking advantage of investment opportunities, a BFSFCU Home Equity Loan will make it happen.

Use the value in your home to finance your next project. By tapping the value you’ve built in your home, you can fund anything from energy-efficient window installation in your home to your next vacation around the world.

With interest rates still very low, using the equity in your home could be a cost-effective way to finance your aspirations.

Compare Home Equity Loans

Table data for Home Equity Lines of Credit
 07-20-2018
Account Type Term (Years) Annual Percentage Rate (APR) Payment Example ($10,000 loan amount) Alert Me
Home Equity Line of Credit (Variable Rate)1 15 2.740% for the first 6 months. After 6 months, the APR will be 5.000%, subject to increase 6 payments of $67.81 and 174 payments of $76.22
5/1 Home Equity Line of Credit (Variable Rate)1 15 3.990% for the first 60 months. After 60 months, the APR will be 5.000%, subject to increase. 60 payments of $73.92 and 120 payments of $75.70
At this time, BFSFCU lends on properties in DC, DE, MD, VA and WV only. Lien recordation is required.
  • 1Home Equity Line of Credit and 5/1 Home Equity Line of Credit refers to an owner-occupied residence and 80% of Fair Market Value minus other loans. The maximum CLTV on home equity lines of credit is 90%. For loans with a CLTV greater than 80%, higher rates will apply. The Annual Percentage Rate (APR) for variable rate loan products may increase in accordance with the Wall Street Journal Prime Rate (“Index”, currently 5.000%) plus a Margin after the introductory rate has expired. The maximum APR at any time is 18%. Other terms and conditions apply, please call 202-212-6400 for details. Appraisal, recordation taxes and other closing costs apply and will be at the member's expense. These closing costs typically range from $200 - $1925 based on the property location, the loan amount requested, the fair market value and the combined loan-to-value (CLTV) ratio. Property insurance is required. HELOC products are not available for investment properties. Please consult with a tax adviser on the deductibility of interest. ↵

Table data for Home Equity Loans
 07-20-2018
Account Type Term (Years) Rate Annual Percentage Rate Payment Example ($25,000 loan amount) Alert Me
Homeowner's Loan (Fixed Rate)1 6 4.990% 4.990% 72 payments of $403
  • 1Homeowner's Loan (Fixed Rate) refers to owner-occupied properties only. Maximum loan amount is $50,000. Higher rates and lower maximum loan amounts apply when CLTV greater than 80%. Other terms and conditions apply, please call 202-212-6400 for details. Appraisal, recordation taxes and other closing costs apply and will be the member's expense. These closing costs typically range from $200 - $1925 based on the property location, the loan amount requested, the fair market value and the combined loan-to-value (CLTV) ratio. Property insurance is required. Please consult with a tax adviser on the deductibility of interest.↵

Further Resources

Housing counseling agencies approved by the U.S. Department of Housing and Urban Development (HUD) can offer independent advice about whether a particular set of loan terms is a good fit based on your objectives and circumstances, often at little or no cost. If you are interested in contacting a HUD-approved housing counseling agency in your area, you can visit the Consumer Financial Protection Bureau’s (CFPB) website, www.consumerfinance.gov/find-a-housing-counselor, and enter your zip code. You can also access HUD’s housing counseling agency website via www.consumerfinance.gov/mortgagehelp or by accessing HUD’s counseling agency web service directly via http://data.hud.gov/index.html. For additional assistance with locating a housing counseling agency, call the CFPB at 1-855-411-CFPB (2372).