A Home Equity Loan allows you to borrow money, using your home’s equity as collateral. Funds from a Home Equity Loan can be used for anything the member wishes, such as home improvement or debt consolidation. Properties must be located in the states of Nebraska or Iowa, and within a 50-mile radius of a Centris location. Rental Properties are not acceptable collateral.
- Minimum Loan Amount:
- Minimum – $10,000.00
- Maximum – Up to 90% of the appraised value.
- Rate: Home Equity Loans have a fixed rate.
- Terms:
- From 48-180 months.
- Prepayment Penalties: None
- Closing Costs/Fees:
- Fees may be reimbursed by Centris, inquiries should be directed to a Home Equity Expert.
- Fees paid by the credit union if processing in conjunction with a 1st Mortgage loan.
- Appraisals: Required
- Additional Features:
- First payment may be deferred up to 75 days.
- Debt Protection may be available.
- Interest paid may be tax deductible, members need to consult a tax advisor for details.
Benefits
- Saves you money with competitive rates which translates into lower monthly payments.
- Saves you time with a convenient and easy online application or phone applications.
- Saves you money with the possibility of a tax deduction. Consult a tax advisor.
- Offers you peace of mind with payment protection.
Target
For member who are homeowners that need a specific amount of money for something.