Home Equity Loans

SOCU offers various types of Home Equity Loans. By using the equity in your home, you may qualify for a sizable amount of credit at a low-interest rate. Furthermore, under the tax law – depending on your specific situation – you may be allowed to deduct the interest because the debt is secured by your home. Consult a tax advisor for further information.**

After years of falling volume, home equity lending is making a comeback, real estate research firm CoreLogic Inc. reported. During the first nine months of 2015, lenders approved nearly 1 million new home equity lines of credit with an aggregate credit limit in excess of $115 billion. New approvals during 2015 were on pace to be the largest amount since 2008, and more than double the volume three years ago.*

Apply Online for a Home Equity Loan Today

Home Equity Line of Credit

• Up to 80% financing available
• Line of Credit Freedom

Home Equity Fixed Rate

• Up to 80% financing available
• Low Fixed Rate
• Up to 120-month financing

*Source: Business Record http://businessrecord.com/Content/Real-Estate-Development/Real-Estate-Development/Article/-Home-equity-loans-are-popular-again/173/835/72368#ixzz45Y278iwv

**SOCU does not provide tax advising services. We recommend all tax related questions be directed to a tax advisor.