Home Equity Loan

What is a Home Equity Fixed Rate Loan?

A Home Equity Fixed Rate Loan is a fixed rate loan with fixed payments, so you don't need to worry about a future interest rate hike. This works well if you have a one-time major purchase like a new car.

Why would you want a Home Equity Fixed Rate Loan?

If you’re a homeowner looking for a way to pay for your student loans, home remodeling, car payment, vacation, or other large expenses, you’re in the right place. It’s no surprise that homes carry a lot of equity. With a Home Equity Fixed-Rate Loan from Mainstreet, we can help you utilize the value in your home to fund your big payments. Your Fixed-Rate Loan will give you the security of knowing that your rate will stay the same throughout the life of your loan.

With a Home Equity Fixed-Rate Loan, we strive to ensure that you’ll receive:

No prepayment penalty

Competitive interest rates

Low Closing Costs

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Estimate your savings with our financial calculators >

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How to apply

Applying for your Home Equity Fixed-Rate Loan is easy! We know you have places to be, so we make applying for a Mainstreet loan as convenient as possible. You can apply Online anytime from your phone or computer or you can always stop in and talk with us at any Mainstreet location.

Apply 24/7 Online at mainstreetcu.org or dial 1.888.395.1010 during normal business hours. To make your loan application process even easier, have your employment information, income, and social security numbers of all applicants handy with you when you arrive.

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Home Equity vs Home Equity Line of Credit (HELOC)

HELOCs and Home Equity Loans are similar because both allow you to borrow against your home equity. But while a loan gives you one sum of money all at once, a HELOC is a certain amount of money available for you to borrow as needed.

Find out more about HELOC >