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Home Equity Solutions

Put Your Home’s Equity to Work

As you make your mortgage payment each month, you build up equity in your home. That equity can serve as a valuable tool that can be used to pay for a variety of things. American First Credit Union offers two ways to utilize your home’s equity – Home Equity Loans and Home Equity Lines of Credit (HELOCs).

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Home Equity Loans vs HELOCs

Home Equity Loans and HELOCs offer similar borrowing requirements and terms, but the way you borrow the money is different. You can borrow as much as $250,000* and each loan option offers:

  • The ability to borrow up to 80%* of your equity
  • Fixed and variable terms available
  • Possible tax benefits**
  • Closing costs waived with minimum loan advance***
  • Home access card (HELOC only)

So how are these loans different? Home equity loans come as a lump sum with a fixed interest rate so you make the same payment each month. HELOCs are a revolving line of credit that you can draw on multiple times while only paying the amount used on the revolving line of credit.

 
 

Our Home Lending Team

  • Art Garcia

    Art Garcia

    Home Loan Consultant

    NMLS: 1063425

    Real Estate Lending

    Phone: (714) 394-4242

    Email: agarcia@amerfirst.org

    Contact Me See My Bio
  • John Martinez

    John Martinez

    Home Loan Consultant

    NMLS: 239872

    Real Estate Lending

    Phone: (562) 896-8282

    Email: jmartinez@amerfirst.org

    Contact Me See My Bio

 

*Maximum loan amount based on individual credit profile. Certain restrictions apply. All Equity Loan not available in TX, TN, IL and GA. HELOC only available in AZ, CA, NV, ID, UT. For loans 80% LTV or greater, please call for a quote.

**Consult a tax advisor regarding the deductibility of interest.

***A $1,000 processing fee will apply if the loan balance is paid off within 36 months or if minimum required advance is not taken.

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