Home Equity Loan Rates

Home Equity Loan Rates

Affordable funding that helps you accomplish almost anything

Home equity loans are often used for remodeling and major repairs. But with low rates that limit interest charges, the money can be used for almost anything that makes your life better and your family happier.

Home Equity Loan Rates
Effective Date: May 22, 2024
Home Equity
Term 5 Year
Financing $5,000 - $350,000
APR As Low As* 7.878%
Home Equity
Term 7 Year
Financing $10,000 - $350,000
APR As Low As* 8.138%
Home Equity
Term 10 Year
Financing $10,000 - $350,000
APR As Low As* 8.388%
Home Equity
Term 15 Year
Financing $20,000 - $350,000
APR As Low As* 8.638%
Home Equity Line of Credit
Term 10 year draw period 15 year payback period
Financing $10,000 - $350,000
APR As Low As* 8.990%
MAX Refi
Term 5 Year
Financing $10,000 - $600,000
APR As Low As* 6.750%
MAX Refi
Term 7 Year
Financing $10,000 - $600,000
APR As Low As* 6.875%
MAX Refi
Term 10 Year
Financing $10,000 - $600,000
APR As Low As* 7.000%
MAX Refi
Term 15 Year
Financing $20,000 - $600,000
APR As Low As* 7.125%
MAX Refi
Term 20 Year
Financing $50,000 - $600,000
APR As Low As* 7.125%
MAX Refi
Term 25 Year
Financing $50,000 - $600,000
APR As Low As* 7.250%
MAX Refi
Term 30 Year
Financing $50,000 - $600,000
APR As Low As* 7.375%
Type Term Financing APR As Low As*
Home Equity5 Year$5,000 - $350,0007.878%
Home Equity7 Year$10,000 - $350,0008.138%
Home Equity10 Year$10,000 - $350,0008.388%
Home Equity15 Year$20,000 - $350,0008.638%
Home Equity Line of Credit10 year draw period 15 year payback period$10,000 - $350,0008.990%
MAX Refi5 Year$10,000 - $600,0006.750%
MAX Refi7 Year$10,000 - $600,0006.875%
MAX Refi10 Year$10,000 - $600,0007.000%
MAX Refi15 Year$20,000 - $600,0007.125%
MAX Refi20 Year$50,000 - $600,0007.125%
MAX Refi25 Year$50,000 - $600,0007.250%
MAX Refi30 Year$50,000 - $600,0007.375%

Credit Union ONE is a full-service financial institution with locations in Southeast Michigan, Davison, MI, Traverse City, MI, and Grand Rapids, MI.

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APR=Annual Percentage Rate

1

Home Equity Loan: APR as low as 7.878%. Approval and actual rate offered is based on creditworthiness factors, term, amount, collateral, and loan to value. Excludes manufactured homes not on a permanent foundation. Minimum loan amount is $5,000; maximum is $250,000. Rates and Terms subject to change. Approximate monthly payment would be $20.23 per $1,000.00 for 60 months with an APR of 7.878%. Maximum loan to value is 90% and collateral must be titled in the State of Michigan or the following counties in Ohio: Wood, Lucas, Sandusky, Summit, Lake, Cuyahoga. Offer may be discontinued at any time without notice. Other conditions may apply. Credit Union ONE waives fees for credit report, flood certification, junior title policy, and mortgage recording. Collateral valuation fee waived unless a full appraisal is required.

2

Home Equity Line of Credit: APR will be variable based on an index plus or minus a margin for the life of the loan. The index is the highest prime rate as published in the Money Rates section of The Wall Street Journal. The margin ranges from 0% to 3.99% and is based on overall creditworthiness factors. Minimum loan amount is $10,000; maximum is $350,000. The APR will never exceed 18% and will never be lower than 3.25%. Loans and actual standard rate offered are subject to approval based on overall creditworthiness factors and collateral. Maximum loan to value is 90% and collateral must be titled in the State of Michigan or the following counties in Ohio: Wood, Lucas, Sandusky, Summit, Lake, Cuyahoga. Other conditions may apply. Credit Union ONE waives fees for credit report, flood certification, junior title policy, and mortgage recording. Collateral valuation fee waived unless a full appraisal is required. Property Insurance is required when Credit Union ONE is in a second lien position.

3

MAX Refi actual rate offered is based on creditworthiness factors, term, amount, collateral and loan-to-value (LTV). Maximum loan to value is 90% and MAX Refi - Second/Vacation Homes collateral must be titled in Michigan or specific Ohio approved counties. Minimum loan amount is $10,000; Maximum loan amount is $600,000. Other conditions may apply. Rates subject to change. Offer may be discontinued at any time without notice

The calculator tools are not guarantees of credit. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes.