Home Equity Loans - Harvard University Employees Credit Union
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HUECU can help you make the most of the equity in your home with a Home Equity Loan or Line of Credit.

Tapping into your Home Equity is great way to access low-cost funds for a variety of needs from home improvements and travel to debt consolidation and major life events.

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Borrowing with a Home Equity Loan or Line offers two key advantages:

  1. The interest rate will be lower – usually much lower than what you’d pay on a credit card or personal loan.
  2. The interest you pay usually is tax deductible which further reduces the cost of borrowing.

All of our Home Equity products feature:

  • No Annual Fees
  • No Pre-Payment Penalties
  • No Closing Costs

With a Home Equity Line of Credit, instead of receiving one lump sum, you have the flexibility to draw funds whenever you need them.3 Tapping into your line is easy using online or mobile banking, and the variable interest rate is only charged on the amount that you use.2

  • Rate is below prime for the life of the line2
  • 10 year draw followed by 15 year repayment
  • No closing costs1
  • Advances can be made via checks, online, in person, and over the phone
  • Borrow up to 80% of the equity in your home

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Fixed Home Equity Loans have fixed interest rates and are available in 5, 7, 10, and 15 year terms. Funds are disbursed in one lump sum, making this is the perfect solution for big purchases or one-time projects.

  • Low fixed rates
  • 5, 7, 10, and 15 year terms available
  • No closing costs1
  • Fixed monthly payment
  • Borrow up to 80% of the equity in your home
  • Discounted rates with automatic payments from an HUECU checking account

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1. If discharge is requested within 24 months from date of note, borrower will be obligated to pay lender the amount of waived fees.
2. Rate adjusted monthly according to Prime Lending Rate as published in the Wall Street Journal. Maximum APR that may apply on Home Equity Lines is 18.00%. Rates and terms are subject to change.
3. Adequate property insurance, and possibly flood insurance, is required. 1-4 family, owner-occupied primary residence and second homes only. Subject to credit approval.

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