B-M S Federal Credit Union

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Home Equity Fixed-Rate Loan

Renovate the kitchen, consolidate higher-rate debt, cover tuition, or tackle a big expense, all with a B-M S FCU Home Equity Fixed-Rate Loan. It lets you borrow a lump sum against the equity you've built in your home and pay it back in fixed monthly payments up to 15 years. Your rate is locked for the life of the loan, so your payment never changes. See what loan might be right for you below!

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Home Equity Fixed-Rate Loans

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Loan Features & Options

Fixed rate for the life of the loan
Predictable monthly payments
Borrow up to 80% of your home's value, less any existing mortgage balance
Terms up to 15 years
Payroll deduction
Flexible Payment Schedule (weekly, monthly, etc.)

Is a Home Equity Fixed-Rate Loan Right for You?

What can I use a Home Equity Fixed-Rate Loan for? Almost anything: home improvements, debt consolidation, education costs, medical bills, or other major expenses.
How much can I borrow? Your loan amount is based on your home's appraised value minus what you still owe on your mortgage, along with your credit and income. Our lending team can help you estimate your available equity.
How is this different from a personal loan? Because your home secures the loan, a Home Equity Fixed-Rate Loan typically offers lower rates, higher loan amounts, and longer terms than unsecured personal loans.
What do I need to apply? Proof of income, your most recent mortgage statement, homeowner's insurance information, and a valid ID.