Home Equity Loan

A home equity loan allows you to borrow funds using your home as collateral. 

What is “Equity”?

Equity is the current value of your home minus the amount you owe on other mortgages. The amount you can borrow is based on the equity you have in your home. 

房屋净值贷款是如何运作的

有时被称为二次抵押贷款, a home equity loan is a lump sum of money you borrow against the equity of your home. Just as your first mortgage is secured by the property, so is the home equity loan. You may qualify for up to 100% of the appraised value of your home, 减去你第一笔抵押贷款的余额.

You repay the loan with equal monthly payments over a fixed term. Interest rates are fixed over the life of the loan to allow you to budget best. 

Prefer the flexibility of accessing available funds on an ongoing basis? Consider a 房屋净值信贷额度.

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您的Elements房屋净值贷款最适合购买以下物品:

• 计划中的家装项目
• 大学(偿还学生贷款或直接支付学费)
• A second home
• Debt consolidation

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所有的贷款都有利有弊, 尤其是在支付主要开支的时候. Both of the home-equity options allow you to borrow against the appraised value of your home, 在你需要钱的时候给你钱. 以下是一些不同之处:

Home Equity Loan

房屋净值贷款更像你原来的房屋抵押贷款. You borrow a specific amount, and then you make regular payments during a fixed repayment period. You apply for the amount you need and receive the money upfront in a lump-sum single payout. Interest rates are fixed over the life of the loan so your payments never change. 

房屋净值信贷额度

与传统贷款不同, a home equity line of credit is something you establish ahead of time and use when and if you need it. In that way, it’s similar to a credit card, except with a HELOC, your home is used as collateral. 您可以根据需要从HELOC中获取或多或少的信息, whenever you need it, 以结算时确定的信用额度为限. A HELOC gives you the flexibility to borrow against your home equity, repay and repeat. Interest rates are variable and often lower than a home equity loan.

使用下面的图表来确定哪个更符合您的需求. As always, your support team at Elements is ready to help you find the product that is best for you—just give us a call at 1-317-542-5055.

There are no prepayment penalties or an annual fee associated with a home equity loan. 成交费通常在538美元至641美元之间.

You will be given the funds in a lump-sum single payout at closing. The funds can be given to you by check or direct deposit into an account of your choosing.

We do offer consolidation loans to consolidate bills and pay off other debts. A Home Equity Loan (see information on this page) can be used for that purpose. 大多数成员可以选择的其他选项包括 Personal Loans, 房屋净值信贷额度, or even a first mortgage refinance 有一个债务合并选项.

Like a Bank, Only Better!

Better Rates. Fewer Fees.

因为我们是信用合作社, 我们以降低费用的形式将利润返还给会员, 更高的储蓄率和更低的贷款利率.

Trusted Advice. Fresh Approach.

We pride ourselves in being a trusted source for financial education. We come to your workplace to answer questions and can provide you with personalized guidance about your loan.

Respected Locally. Accessed Globally.

Headquartered in Indianapolis since 1930, we rank among the top 3% of credit unions nationally². 我们为所有50个州和50多个国家的会员提供服务. You’ll have access to 5,000+ shared branches nationwide and 78,000+ surcharge-free ATMs globally.

High Tech. Human Touch.

我们的技术使使用Elements进行银行业务变得简单. From quick digital applications to online and mobile banking, we’ll be by your side wherever you go. We’re here for you with member service available 24/7 and live chat during the workday.

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3 Easy Steps to Apply

1. Apply online - 你可以在短短10分钟内在线申请! 随时提交您的申请或致电 1-800-561-9433 to get started. 你的身份证(驾照)准备好了吗, state ID, 或护照)和你的家庭收入估计, assets, 房屋价值和你为房屋支付的价格.
2. Take our call - We'll contact you within one business day after you submit your application to go over what documentation we'll need and to answer your questions.
3. Schedule your closing - We'll contact you with a decision within 10 business days and schedule a closing at a location convenient to you if approved. That's it — 你的贷款可以投入使用!

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