Lending
Home Equity Solutions
Looking for a home equity loan or line of credit with a great rate from a lender you can trust? DOCFCU delivers. We lend in multiple states* and are ready to help you with a solution that fits your needs and budget.
*Currently, we process HELOC’s & 2nd Trust loans in the following states AZ, SC, ME, CO, MD, VA, DC, WV, DE, NC, PA, FL, CA, GA, OH.
Update for mortgage loans page.
Lending
Home Equity Loan and Line of Credit - Zero Closing Costs*
A home equity line of credit from DOCFCU can be a smart way to fund a variety of needs, including a home renovation or repairs, education expenses, the trip of a lifetime, or even simply to consolidate debt. Our experienced lenders are ready to help with tailored line of credit just for you.
A home equity loan, or “second trust loan”, is another option that substitutes a fixed rate for the variable rate of a home equity line of credit.
*No closing costs on an initial advance of $20,000 or more. Borrow up to 90% of your home’s value (minus your first mortgage balance) up to $350,000 must be eligible for DOCFCU membership. Other restrictions may apply, contact us for details. NMLS #810389
Home Equity Line of Credit
- A low variable interest rate of Prime+0*
- No closing costs on an initial advance of $20,000 or more
- Tax-deductible interest payments (consult your tax advisor for details)
- The ability to borrow up to 90% of your home’s value (minus your first mortgage balance) up to $350,000
Home Equity Loan (2nd Trust)
- A low fixed rate
- Tax-deductible interest payments (consult your tax advisor for details)
- The ability to borrow up to 90% of your home’s value (minus your first mortgage balance) up to $350,000
Rates
Effective: 3/11/2020
Home Equity Line of Credit | as low as |
|---|---|
Base Rate (Prime + 0.25%) | 8.75% |
Combined Loan to Value > 85.01% – 90% (Prime + 1.00%) | 9.50% |
2nd Trust Mortgages (Home Equity Loans) | as low as |
10 Years | 8.375% |
15 Years | 8.500% |
20 Years | 8.625% |
Have questions? We’re here to help. Please call 202.808.3600 to speak with one of our loan specialists today.