Real Solutions for Our Members!
Our members can leverage the equity in their home to finance the cost of home improvements or renovations, consolidate debt, or even pay for college.
Home equity financing can be set up as a loan or a line of credit.
With a Home Equity Loan, U.S. Eagle would advance you the total loan amount upfront. A Home Equity Line of Credit, or HELOC, provides a source of funds that you draw on as needed.
No Upfront Fees
- No Annual Fees
- No Closing Costs
- Competitive Rates
- Adjustable Rates
- Quick and Easy Application
Home Equity Loan
For large, one-time expenses, a home equity loan may be your best option. A Home Equity Loan is typically a second mortgage, and allows the home owner to borrow cash in exchange for equity that has built up in the home.
With a Home Equity Loan, you receive one lump sum and make fixed monthly payments on that amount for the length of the term.
Home Equity Line of Credit (HELOC)
A HELOC is a good choice if you have a series of projects and want to secure access to credit upfront without starting to pay interest until you actually use it. A HELOC is also ideal if you anticipate a need for borrowing against home equity in the months ahead, but want to lock in today’s favorable interest rate terms.
A Home Equity Line of Credit is a variable rate line of credit that uses your primary residence as collateral, or security for the debt. This variable rate features interest and principal payments that can change over time. You can also switch to a fixed rate, which allows you to lock in a rate on all or a portion of your outstanding balance at any time during your draw period.