Home Equity Loans

Home equity loans and lines of credit are one of America’s most popular loans – more than 1 out of 4 homeowners in America use them. Apply in a snap, and receive your funds in as fast as 10 business days.Home equity loans can be used to:

  • Consolidate debt
  • Build an addition
  • Remodel your home
  • Start a business
  • Finish your basement
  • Do anything you want!


Getting Started

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Home Equity Loan

  • Loan for a specific amount and term.
  • Fixed rate with a fixed payment amount.
  • Terms available up to 15 years.
  • Useful for one-time purchases or events, such as consolidating bills, home renovation, vacation or buying a boat.
  • You may be able to borrow up to 90% of your equity in your home.
  • Get up to $175 off closing costs on a Home Equity Loan.2

Home Equity Line of Credit

  • Fixed or variable rates available.
  • Terms available up to 15 years.
  • Apply once and receive a pre-approved credit limit.
  • Use your funds over and over again for up to five years.
  • Borrow what you need, when you need it.
  • Take an advance any time using CU Online, our mobile app, by calling in or by stopping at any location.
  • Useful for ongoing expenses, such as home improvement projects or college education.
  • You may be able to borrow up to 90% of your equity in your home.
  • Get up to $175 off closing costs on a Home Equity Line of Credit.2
  • Interest paid on your home equity loan may be tax deductible. Check with your tax preparer to see if you qualify

View Home Equity Line of Credit Disclosures

Consumer Loan Disclosures

When you borrow from Capital Credit Union, you pay interest on the unpaid loan balance. There are no penalties for paying off your loan early. Payment by payroll deduction is also available. Credit Life and Credit Disability Insurance are both offered at a low rate. Interest rates are very competitive with other financial institutions. Several options are also available that offer automatic repayments.

1Home equity line of credit (HELOC) loans can be completed from application to funding in 10 business days or more. If an appraisal needs to be ordered it can increase the process time. Other restrictions may apply. 2Applies to home equity loans/lines with $20,000 or more of new money borrowed. Maximum closing costs paid by Capital Credit Union – $175. Does not apply to refinancing of existing Capital Credit Union home equity loans/lines or to interest-only home equity loans or to home equity loans with a designated closing cost amount. Capital Credit Union does not cover the cost of an appraisal (if needed) or Minnesota mortgage registry tax fees. Capital Credit Union reserves the right to end this promotion without notice. Expires 12/31/18.

View Consumer Loan Disclosures


Determining your equity

To determine the equity you may have available, you can either use your property tax statement or a current appraisal. This calculation is based on a 90% loan-to-value. The loan-to-value for your loan may vary.

Using your property tax statement:
Value of your home $___________________ x .90 = $ ___________________

Using a current appraisal:
Appraised value $ ___________________ x .90 = $ ___________________

Take the figure above and subtract any existing first mortgage balance.
Figure above $ ___________________
Mortgage balance $ ___________________
Remainder $ ___________________

If the remainder is greater than $5,000, you are a candidate for a home equity loan or line of credit (pending credit approval).