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Looking to renovate your home or consolidate debt? A home equity loan or home equity line of credit (HELOC) from Alliant can help you leverage your home's value.
APR=Annual Percentage Rate56
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That's 18.2x the national bank average!71
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What is home equity? Home equity is the difference between your home's market value and the remaining balance on your mortgage.
If you own a home and have been making payments on your mortgage for years, then you may have built up a significant amount of equity. With a home equity loan or home equity line of credit, you can borrow against the value of your home. This could be a good strategy for you if you need to get extra money to pay for a large expense.
The right home equity loan type depends on your situation and your needs. Compare options:
You'll receive a one-time lump sum loan payout.
You're able to borrow from your home as a line of credit, similar to borrowing with a credit card. You can borrow what you need, as you need it, up until you reach your credit limit.
Alliant Credit Union Home Equity Loans and Home Equity Lines of Credit (HELOC) are available in multiple states including Illinois and California, among others.
You hate fees and so do we. There are no closing costs, application fees, or appraisal fees.
A home equity line of credit (HELOC) or home equity loan is a great way to leverage the value of your home and ensure you have funds available for whatever you want, such as home repairs and improvements, a new car, or even a vacation home.
We’re always here to help. Call an Alliant home equity expert at 800-328-1935. We’ll guide you toward the perfect loan for your unique situation.
Borrow funds as you need them, up to your line of credit amount (up to 90% of the value of your home)
Borrow funds as you need them up to your line of credit amount, but only pay back the interest and the amount of principal you choose for the first 10 years. There is a $50 annual fee that will be waived for the first year.
Borrow up to 90% of your home equity and get a one-time payment
60, 120 or 180 months
You anticipate needing funds over time. Example uses:
You anticipate needing funds over time, and you want the option to make lower interest-only payments on the loan now. Example uses:
You need a specific amount for an immediate need. Example uses:
Rates shown above are as low as. APR=Annual Percentage Rate56
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Everybody has unexpected expenses, cash shortfalls, home repairs or large purchases to make. Instead of cashing in stocks or other investments that may increase in value over time, you can use the equity in your home to open an Alliant Home Equity Line of Credit (HELOC) or home equity loan. You’ll get a low interest rate and the flexibility of low monthly payments, too.
Each type of product has specific advantages. For example, the home equity line of credit (HELOC) gives you the flexibility to use the funds on an “as-needed” basis. On the other hand, the home equity loan gives you a one-time draw with a fixed rate that is especially useful for a large initial purchase. Consult with an Alliant Home Equity Specialist to find the loan that’s right for your situation.
The amount of equity you currently have in your home will determine the Home Equity Line of Credit (HELOC) limit or Home Equity Loan value. Consult with an Alliant Home Equity specialist to determine your estimated credit limit or loan value amount.
An interest-only Home Equity Line of Credit may be right for you if:
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