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Loans    Home Equity Loans    Home Equity Loans and Lines of Credit

Home Equity Loans and Lines of Credit

VISA® Home Equity Line of Credit
Get the money you need when you need it. Use this revolving line of credit based on the available equity in your home.

Fixed Rate Home Equity Loan
Use your home's equity to buy what you need now. Receive your money all at once then pay it back in stable, fixed monthly payments.

 

Fixed Rate Home Equity Loan

VISA® Home Equity Line of Credit

Interest

Tax deductible in most cases

Tax deductible in most cases

Loan-To-Value (LTV)

100%

95%

Access to funds

Funds disbursed in a single
check or deposited into the
RFCU account of your choice.

Anywhere VISA is accepted,
ATMs, any RFCU location,
Online Banking

Payment Options

Fixed monthly payments with direct payments from any RFCU account

1% of balance plus unpaid
interest

States Available

Georgia (Primary residence only)

Georgia (Primary residence only)

*Consult your tax advisor regarding deductibility of interest. 
**Annual Percentage Rate. Rate subject to change.

What is LTV?
Credit Unions and other lenders will extend credit based upon a percentage called Loan-To-Value, or LTV. LTV measures the amount of available equity that you have in your home. Equity is calculated by taking a percentage of the estimated market value of your home minus the amount you still owe on your first mortgage.   

For example, if your home has a market value of $100,000 and you still owe $50,000 on your first mortgage, your total available equity (the maximum amount you can borrow) is calculated as follows:

 

Fixed Rate
Home Equity Loan

      VISA® Home Equity
Line of Credit

Estimated Market Value:

$100,000

$100,000

Percentage LTV:

100%

95%

Percentage of Market Value:

$100,000

$95,000

Less Mortgage Debt:

$50,000

$50,000

Available Equity:

$50,000

$45,000

 
    Calculate the Loan to Value Ratio of your home.
    Apply now!



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