GFA Federal Credit Union

Home Equity Line of Credit

 

Let the demo begin with a Home Equity Line of Credit from GFA

A Home Equity Line of Credit gives you access to funds for ongoing projects. This is a form of credit in which you use your home as collateral. To qualify you must have available equity in your home, this means you owe less on your home than the actual value. You will be able to withdraw funds using checks when you need to pay for large expenses. Or transfer funds from your line to your checking account quick and easy using online or mobile banking to make a purchase with your debit card. 

Apply for a Home Equity Line of Credit

Home Equity Line of Credit Features

  • Variable rate
  • Use the funds for:
    • Home improvements
    • Debt consolidation
    • Life events - weddings, student loans, medical expenses
  • 10 year draw/10 year payback period
  • Principal and interest payment options available during the draw period
  • HomeFLEX: Up to 3 fixed rate conversions at any time during the draw period*

Apply  Check Rates

*Homeflex Home Equity Line of Credit introductory rate (APR) of 2.99% for the first 18 months upon opening. Thereafter, the rate, including the rate on any existing account balance will convert to the applicable variable rate. Equity Lines of Credit are variable rates subject to increase after consummation, adjusting monthly to the Wall Street Journal Prime Rate minus .25% with a maximum APR rate of 18.00% with a floor rate of 4.25%. WSJ Prime Rate currently 3.25% as of 3/15/2020. Maximum Loan to Value 80%. Offer applies to owner-occupied primary residences only. Homeowners insurance may be required. A fixed rate conversion option is available. Borrowers may elect to convert an outstanding balance to a fixed rate at any time during the draw period (first 10 years of the term). There is a $50 fee for every conversion. Reimbursement Fee applicable if paid off and closed within 3 years of the date of loan closing. Other restrictions may apply. All loans are subject to credit approval.

Checking Accounts

Checking Accounts

Manage your accounts whenever and wherever you want. GFA has checking accounts for all your financial needs.  Learn More

Learn More

Term Share Certificate

Term Share Certificate

Isn't it time your money worked hard for you? Term Share Certificates have a high interest rate so you can reach your savings goals faster.  Learn More

Start Saving

Online Financial Calculators

Online Financial Calculators

Find out your loan rate, if you should consolidate, or how much you should save for retirement with our Online Calculators.  Learn More

Learn More

Personal-Icon.jpgBusiness-Icon.jpgInvestments-Icon.jpgInsurance-Icon.jpg

Close