Your home is your most valuable asset. You can use the equity you have in it to pay for college, renovations or pay off debts.
IH Mississippi Valley Credit Union can help you access the buying power that being a homeowner earns you. We offer three types of loans to help make your dreams a reality.
|Home Equity Loan||Home Equity Line of Credit (HELOC)||Home Improvement Loan|
|Apply Now||Apply Now||Apply Now|
|What is it?||Use the equity you’ve built up in your home to send your child to college, pay off credit card debit or finance a home improvement project.||Similar to a home equity loan, you can borrow up to 90% of your home’s value, less the remaining balance, when you need it most.||Pay for a new addition, a new roof or to finish off the basement.|
|How's my money disbursed?||It's paid in a single lump sum.||You can choose to receive a single lump sum or access the funds as needed||It's paid in a single lump sum.|
|What kind of interest rate will I have?||You'll get a low, competitive fixed rate.||You can get a low, competitive fixed or variable rate||You'll get a low, competitive fixed rate.|
|Will my payments change?||No, because you receive a single lump sum, you can feel confident that your payments won't change||Payments can change depending on how much money is withdrawn and if there’s an adjustable rate.||No, because you receive a single lump sum, you can feel confident that your payments won’t change.|
|Is the interest tax deductible?||It may be, talk to your tax advisor for details.||It may be, talk to your tax advisor for details.||No|
|Is there an annual fee?||No||No||No|