Home Equity Loans

A home equity loan allows you to borrow against the equity in your home. The difference between that and a home equity line-of-credit is that it provides a one-time lump sum at a fixed rate for a fixed term and a specific purpose rather than allowing you access to your funds repeatedly.

The features of a Home Equity Loan include:

  • Potential tax deductible interest payments…a huge advantage! (consult with your tax advisor for details)
  • Competitive fixed rate and term
  • Borrow up to 100% of your home’s value (minus your first mortgage balance)
  • No annual fee
  • No closing costs (except home appraisals when needed)
How Much Can I Borrow?
The actual dollar amount you may qualify for will depend on your individual financial situation. Use this chart as a guide to calculate the approximate amount of your available equity when borrowing up to 90% of your home’s value.
Your home’s current value $ __________
X 90%
= $ __________
(Minus 1st mortgage balance) - $ __________
Equals available equity = $ __________

Get Started With My Loan

Vantage Credit Union Home Equity Loans are valid on Missouri and Illinois property only.