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Home Equity Loan

EVERYTHING YOU NEED TO KNOW

  • Available for multi-purpose
  • Assets purchased don not have liens
  • Multiple terms and amortizations available
  • Weekly, Bi-Weekly, Monthly, Semi-Monthly and accelerated payment options
  • Fixed and variable rates available
  • Eligible for preferred rates
  • No Prepayment Penalty
  • Pre-approvals available
  • Eligible for Creditor Insurance

WHAT’S IN IT FOR YOU?

  • Our home equity loans allow for you to access the equity in your home and use the funds as you wish. You can purchase that new car, or use the funds to bolster your investments at a low cost. Either way, you are putting your equity to work for you;
  • Any assets that you purchase with your loan proceeds are yours, free and clear. There are no liens placed, allowing you the freedom to sell/trade without repayment restrictions.
  • Our products have various terms and amortizations available, allowing for us to customize our lending solutions to your needs and making your payment fit your budget.
  • Our weekly, bi-weekly, monthly, semi-monthly and accelerated payment options give you the opportunity to reduce the interest cost on the loan, saving you money. It also lets up tailor the loan to your schedule and budget.
  • With the option of fixed rate, you know what your payment will be for the duration of the term chosen, allowing for you to budget properly. Variable rates allow for you to take advantage of competitive rates and having to option to convert at any time to a fixed rate term.
  • Our Home Equity loans are eligible for preferred rates as we use your house as security, resulting in lower interest costs over the life of the loan.
  • We also offer pre-approvals so that you know ahead of time the amount of funds that you will be available for you.
  • Creditor Insurance is also available to give you the peace of mind that your assets and credit score are protected in case something unexpected happens, because the insurance will make the payment for you.
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The Small Print
  • On approved credit only
  • Interest rates vary per application
  • Available balance is dependent on amount being repaid to LOC
  • Amount available to be financed is up to 75% (80% if CMHC insured) of the value of your home, including all other debts tied to the home

© 2013 Lake View Credit Union