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Equity Loans
Your home, inspired by you.
Your home’s equity can be a powerful financial tool. SAFE’s Home Equity Line of Credit (HELOC) and Home Equity Loan offer competitive rates and flexible borrowing options, helping you fund home improvements, major purchases, or even consolidate debt. Since these are secured loans, they typically offer lower rates than personal loans and won’t affect your primary mortgage rate. While both options tap into your home’s equity, they work in different ways. Understanding the differences can help you choose the right fit for your needs.
Intro rate as low as APR for six months
Variable rate as low as APR thereafter1
A HELOC offers you the freedom to tap into your home’s equity whenever you need it—think of it as a credit card with lower rates and more flexibility. During the draw period, you can borrow as needed up to your approved limit, and you have the option to make monthly interest-only payments on the amount you use. While this option creates lower payments up front, interest-only payments will not reduce your loan balance. When the draw period ends, you’ll make payments on both principal and interest until the balance is paid off.
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Calculate your possible HELOC amount
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Rates as low as APR
A Home Equity Loan provides you with a lump sum of money upfront, which you repay in fixed monthly installments over the life of the loan. With a fixed interest rate, your payments are predictable and remain the same for the duration of the loan term. This option offers consistency, providing a clear, structured repayment plan.
Calculate your possible home equity amount
Finance home upgrades, on your terms.
Access funds when you need them.
Adapt to life’s changes.
One lump sum for big plans.
Consolidate debt and save.
Predictable monthly payments.
Home equity is the present value of your home, minus what you owe on your mortgage. Industry standard requires 20% or more equity to borrow for an equity loan. If you have paid off 20% of your mortgage or if homes in your area have been selling for higher than asking, then you are likely in a good position to borrow for an equity loan.
A secured loan is a loan that is protected by collateral. In this case, your home will act as the asset that will be used to back the loan.
A fixed interest rate is a rate that will not change over the term of the loan. A variable interest rate is a rate that moves up and down with the market.
A line of credit is the amount of credit extended to you, the borrower, by the lender. The total credit amount is available to you, but it’s not required that you use the entire line of credit. You can take out money against the line of credit, make payments, and then take out money again.
A draw period is the duration of time you can withdraw funds from your line of credit as long as you make payments. A repayment period comes after the draw period ends.
If you click "continue" below, you will be directed to a third party's web site. As a member service, SAFE Credit Union offers links to web sites of third parties whose products or services we believe offer good value and may be of interest to you. In some cases, if allowed by law, SAFE Credit Union may receive compensation from third parties whose products or services you purchase. Third parties are solely responsible for their web sites, products and services, and maintain their own consumer data privacy policies, which may differ from those of SAFE Credit Union. Use of third party services, products and web sites is solely at your discretion. To go to a third party web site, click "continue." To go back to SAFE Credit Union's web site, click "close."
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