HOME EQUITY LOANS
Use the equity in your home for a fixed loan or a variable line of credit.
Start imagining the possibilities by using the equity in your home to get the cash you need. We offer fixed loans and variable lines of credit—both at competitive rates.
Do You Want
Fixed Rate Home Equity Loan
- Competitive, fixed rates for several short-term or one-time needs
- The existing equity in your home is used as collateral backing
- Pay no points and no closing costs**
- Accommodating repayment terms that work uniquely for you
- The interest paid might be tax deductible***
- Local decision-making and processing right here in Delaware
- Attentive, friendly service from start to finish
Home Equity Line of Credit
- Competitive, variable rates for several ongoing or seasonal needs: education expenses – major life events – major home improvements – debt consolidation – emergency reserve
- Accommodating repayment terms that work uniquely for you
- Funds available anytime without reapplying; apply once, then use repeatedly thereafter
- Revolving credit – as principal is repaid, more becomes available for use
- Funds easily available through checks or via in-person or phone transfers to a specified Del-One FCU checking account
- The interest paid might be tax deductible**
- Rates are subject to change
- Set up automatic payments to be deducted from your account monthly
*Conditions/restrictions apply. NMLS ID# 543572
**Consult a tax advisor.
Current loan rates
| Account | APRA |
|---|---|
| Home Equity Loans Rates as low as… | 6.25% |
| Home Equity Line of Credit (HELOC)* Rates as low as… | 7.50%B |
A) A.P.R.= Annual Percentage Rate
B) Rates based on the Prime Rate of 9/1/2024
Rates subject to change. Rates accurate as of above listed date. Other terms and rates available. Members may contact any CU staff member for further info. on applicable fees and terms.
Effective 11/1/2024
Plan For The Unexpected
Does your family have a safety net if the unexpected hits? Click here to learn more about our optional debt protection, to protect your new/existing loan(s), or to file a claim.
Home Loans FAQ
- A Home Equity loan (fixed rate) is a closed-end loan with a specific amount and time for repayment.
- A Home Equity Line of Credit (variable rate) is a revolving account with a pre-set limit allowing the borrower to make draws as needed.
Learn more about our mortgages at Del-One Federal Credit Union
At application, we offer members the opportunity to lock in the rate or to float the rate and lock in at a later date prior to closing.
Learn more about our mortgages at Del-One Federal Credit Union
Most loans take an average of 30 – 45 days from receipt of a complete application package to closing. By providing your Mortgage Loan Originator with all of the required documents upfront, you will participate in expediting the process.
Learn more about our mortgages at Del-One Federal Credit Union
A line of credit is a revolving account allowing a borrower to make draws as needed up to a pre-set limit. The primary residence is used as collateral for the line of credit.
If you obtain a mortgage with Del-One, your closing will be held at a title company/attorney’s office.
At Del-One Federal Credit Union, we are happy to offer the best mortgage options for you! Learn more about our Mortgages at Del-One Federal Credit Union.
Yes, all properties secured by a mortgage or home equity loan require proof of homeowner’s insurance. If your property is in a flood zone, we will require proof of flood insurance coverage.
We will lock every member’s interest rate at the time of application and there is no lock-in fee. The rate will be guaranteed for a period of 60 calendar days.
Mortgage insurance is an insurance policy that protects the lender in case the loan goes into default. Required on loans with a loan to value (LTV) greater than 80%. Mortgage insurance is also referred to as private mortgage insurance or PMI.
The 1098 tax form reports the amount of interest paid on your mortgage loan during the tax year. Note: If you paid $600 or more in interest during the year, this form will be sent to you by January 31st.
An escrow account holds the amount added to the monthly mortgage payment in an amount sufficient to pay the Real Estate Taxes, Insurance premiums, and PMI when due. This account is established and held by the lender.
Learn more about our mortgages at Del-One Federal Credit Union
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Helping members reach their goals since 1960
Del-One Federal Credit Union
Helping Members Reach Their Goals
Since 1960
Del-One Federal Credit Union
