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Home Equity
Take advantage of our Home Equity and Home Improvement Loans.
We offer Fixed Rate Home Equity Loans:
- Up to 80% Appraisal Value or up to 80% of State Equalized Value
- Terms ranging from 5 years to 15 years - Amortized up to 360 Months (30 Years)
- No prepayment penalties
Call for a Home Equity Packet by mail or come in and see us today!
(See checklist below to share with your loan officer.)
| Fixed Rate - Owner Occupied |
| 5 Year Term (Balloon) |
5.75% APR |
| 10 Year Term |
6.50% APR |
| 15 Year Term (Balloon) |
7.50% APR |
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| Fixed Rate - Secondary Dwelling |
| 10 Year Term |
9.00% APR |
| 15 Year Term |
9.50% APR |
Fixed rate home equity loans may be amortized up to 360 months, 30 years, but will be paid back in full or refinanced after 15 years.
We offer a Fixed Rate Home Improvement Loan:
- 8.50% APR up to sixty (60) months
- Minimum $5,000
- Maximum $10,000
- All names appearing as homeowner MUST sign Home Improvement Loan Agreement
- Copy of the Deed is needed - MUST add Lien to the house
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Home Equity Application Checklist
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To streamline your application, please bring the information listed on the checklist to share with your Craftsman Credit Union loan officer.
Income Information
- Current pay-stub or proof of income
- Letter of seniority
- Lease agreements for rental property
Property Information
- Copy of current mortgage statement
- Showing name address of lender, account number and balance owing
- Name of company holding lien, current balance owed and monthly payment
- Copy of Home owner's Insurance Policy
- Current year State Equalized Value (S.E.V.) for your home
- Prior year and current year's Real Estate Taxes (summer and winter)
For additional details and restrictions, please contact the Credit Union.
Calculate Your Equity Loan
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