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Home Equity Loans
Think a home equity line of credit or 2nd mortgage can only be used for home renovations? Think again. Borrow as much or as little as you need for items such as weddings, business cash flow, vacations, debt consolidation, and more. With a no fee, low interest rate home equity loan from Cyprus Credit Union, you can reach your goals sooner.
Home Equity Line of Credit (HELOC)
Access the equity in your home
Revolving line of credit similar to a credit card
Lower variable interest rate compared to other loans
Borrow up to 100% of your home’s value
Choose How to Pay Your HELOC
Interest Only Payment Option
Draw period up to 10 years with a 10 year re-payment period
$50 minimum payment per month
This payment option has a lower monthly payment
1.25% of the Balance Payment Option
Draw period up to 10 years with a 5 year re-payment period
Monthly payment will be 1.25% of the balance, minimum of $50
This payment option requires a higher monthly payment, but your loan amount will be paid down quicker
Fixed Rate 2nd Mortgage
Allows a person to borrow against their home
Money is loaned in an upfront, one-time lump sum
Lower fixed interest rate compared to other loans
Borrow up to 100% of your home’s equity
Repayment terms up to 20 years
All second homes require an appraisal and are subject to third party fees. Not all property types are eligible for these products. Please contact our in-house loan advisors for a current list of ineligible property types.
The products and services on this page are offered through LPL Financial or its affiliates by Registered Representatives of LPL Financial. These products and services are not credit union deposits, not credit union guaranteed, not insured by NCUA or any other government agency, and may lose value. Cyprus Credit Union is a separate entity and is not affiliated with LPL Financial.
Links from the Cyprus Credit Union web site to other web sites are provided solely as a convenience to visitors.
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The Credit Union does not have any responsibility
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If you decide to access any of the linked third-party web sites, you do so entirely at your own risk. You are encouraged to review the privacy
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