GFA Federal Credit Union

Home Equity Loans

 

Use the equity in your home to finance big expenses or home improvement projects.

Using the equity in your home is a great way to pay for renovation projects, home improvements, consolidate debt, or pay for student loans. Finance with a Home Equity Line or Loan. 

Apply for a Home Equity Line or Loan

Home Equity Line/Loan Comparison

Mortgage Type
Features
Home Equity Line of Credit

Home Equity Line of Credit

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FeaturesA Home Equity Line of Credit (HELOC) gives you the ability to secure a line of credit with the equity in your home.
Best used for home improvements, student loans, consolidating debt and more.
Home Equity Loan

Home Equity Loan

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FeaturesA Home Equity Loan is a lump sum available at the closing of the loan which is best used for large purchases, major home improvement projects and more.

Do you need to finance big expenses or home improvements? Get the help you need with a home equity loan from GFA.

Home equity refers to the current market value of a homeowner's property minus any outstanding mortgage balances. Equity increases with each payment and as the property value appreciates. Homeowners can use the equity in their homes to fund renovation projects, consolidate debt, pay off student loans, and more! It’s a financially

At GFA, borrowers have two options to choose from:

  1. A Home Equity Loan will provide you with a lump sum based on your home's current value and remaining mortgage payments.
  2. A Home Equity Line of Credit is when the lender calculates your home’s equity, you can then draw money from the line as needed.
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