This year, the Valley Federal Credit Union is providing credit union members with the opportunity to apply for a home equity loan. We are encouraging everyone who is in need of loan to pay off debts to consider this offer as a safe financial solution. VFCU’s offer is in compliance with the National Credit Union Administration (NCUA) and is an equal housing lender under the Federal Deposit Insurance Corporation. For members who apply, rates may start as low as 4.9% APR*with approved credit.
What is a home equity loan?
A home equity loan is like a second mortgage and often used to finance major expenses. Simply said, it is a type of loan in which a borrower uses the equity of their home as collateral. Like a traditional mortgage, home equity loans are secured against the value of an individual’s property, but can only be used to refinance a home and are on a fixed term. This type of loan creates a lien on the property as a form of security interest to ensure payment of debt.
A home equity loan can aid you with your future financial investments and debts, such as:
- Remodel and renovate your home
- Pay for your child’s college education
- Finance and purchase a second home
- Consolidate high-interest debts
If you would like to learn more about our new home equity loan offer or are interested in becoming a member of our credit union, please contact our Valley Federal Credit Union main branch in Brownsville at 956.546.3108.