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Home Equity Loans

Your Best Source of Cash Could be Right Under your...Feet!
We all need money now and then for "big ticket" items such as financing a child's education, remodeling the house, or consolidating high interest debt. If you've owned your home for awhile and have been making regular monthly mortgage payments, there's a good chance you've built up equity that can be used as collateral for a loan.
A Home Equity Loan or Line of Credit from Oxford FCU could be the best way for you to access the cash you need.
Which Loan is Right for You? A Home Equity Loan or a Home Equity Line of Credit?

Home Equity Loan Home Equity
Line of Credit		 Similarities
Receive your money in a lump sum Withdraw money as you need it Interest on both may be tax deductible**
Borrow a specific amount for a set period of time Offers easy access for unexpected expenses Interest rates are generally lower than other types of credit such as personal loans and credit cards
Fixed interest rate Variable interest rate Funds can be used for many purposes
Regular monthly payments Fluctuating monthly payments Applying is quick and easy

 

Disclosures
*Loan must remain open for three years. Estimated closing costs $400. Membership eligibility required, included $5 minimum share account balance. Additional disclosures will be sent to you upon application submission. Property insurance required. Flood insurance required where applicable.
**Consult your tax advisor about the deductibility of home equity interest.

Home Equity Line of Credit
From home improvements and new appliances, to financing higher education expenses, or even purchasing your next car, a Home Equity Line of Credit (HELOC) is a flexible and affordable way to finance the things that are important to you. Oxford FCU's Home Equity Line of Credit is a revolving Line of Credit that allows you to draw on the equity in your home at any time, as you need it.

  • Up to 90% of Appraised Value of Primary Residence***
  • Up to 90% of Appraised value of secondary residence/camp***
  • Closing Costs Paid by Oxford Federal Credit Union*
  • Interest Paid May be Tax Deductible**
  • Pre-Authorized Credit Line - Draw Funds as You Need Them
  • Interest Only Payment Option

To learn more about a Home Equity Loan or Line of Credit call us at 800.991.9219.

Home Equity Loan
With a Home Equity Loan from Oxford FCU, you can use the value you've built up in your house to help finance a child's education, consolidate debt, purchase a vacation home, or meet just about any financial need.  Oxford FCU's Home Equity Loan offers:

  • Low fixed rates and low monthly payments
  • Flexible repayment terms - Up to 15 years
  • No pre-payment penalty
  • Closing costs paid by Oxford Federal Credit Union*
  • Interest may be income tax deductible**

To learn more about a Home Equity Loan or Line of Credit call us at 800.991.9219.