Home Equity Loan
HOME EQUITY LOANS
Leverage Your Home's Equity
Mission Fed Home Equity Loans help you access the equity from your home to assist with large purchases such as home improvements, college tuition and debt consolidation.
Want to learn more? Our home loan experts can help. Make an appointment at your nearest Mission Fed neighborhood branch to get started.
What is a home equity loan?
A home equity Loan is an additional loan you take out on your primary residence based on the equity you’ve built over the time you’ve owned your home. When you know the amount you need to borrow, and prefer a reliable fixed rate to a variable rate, a home equity loan might be a good alternative to a Home Equity Line of Credit (HELOC).
Mission Fed home equity loan features:
- Secure, fixed rate for the life of the loan
- Borrow a maximum rate of up to 125% of your home’s value
- Fast online application, or apply by phone or in the branch and get prequalified
Local Service, Low Rates
Mission Fed offers home equity loans with fixed rates and terms that fully amortize. That means you receive your money in one lump sum, use it as needed, and start repaying the loan right away with set monthly payments. Fixed interest rates help you calculate how much interest you’ll end up paying over the life of the loan.
A home equity loan provides all the money upfront with reliable interest and a clear repayment period, you’ll know exactly where you stand with your loan.
A loan specialist at Mission Fed can help you decide if a home equity loan is a right choice for you and your property. Turn to the experts you trust and talk with a home loan expert today.
Qualifying for a Home Equity Loan
To qualify for a home equity loan you need to own your home and have a satisfactory credit score. At Mission Fed, our Home Equity Loans allow you to borrow up to $300,000 of the value of your home, giving you access to the funds you need while providing you a reliable repayment schedule with our fixed home equity loan.
You can apply through our online banking platform. If you prefer to apply in person, where a knowledgeable loan specialist can help walk you through the process, simply make an appointment by clicking the button below.
Members must meet membership and account criteria. All loans and loan programs are subject to approval. Rates and terms will vary based on collateral and creditworthiness. Terms and conditions apply. Programs, rates, terms, conditions, and services are subject to change without notice.