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Home Equity Loans and Lines of Credit

Put Your Home's Equity to Work 

A Home Equity Loan provides a sum of money and uses the equity in your home as collateral. Home equity loans can be used for a variety of things: to fund home repairs or improvements, consolidate debt, even help pay for a college education even  "rainy" day fund.

Home Equity Line of Credit in Ohio

A Home Equity Line of Credit, or HELOC, allows the borrower to access to the funds as you need them providing the home owner flexibility.

  • HELOC rates as low as 8.500% APR1
  • Plus, no Application Fee

Fixed Home Equity Loan in Ohio

A Closed Home Equity Loan provides the borrower one lump sum based on the equity in the home. BMI FCU® provides you plenty of choices when it comes to home equity loans. 

  • Rates as low as 9.500%  APR1
  • Plus, no Application Fee 

 

Home Equity Loan & Line of Credit Rates

 Ohio Owner Occupied Properties Only

Home Equity Loans in Central Ohio | BMI Federal Credit Union

Product Rate APR1 as low asPrint Home Equity
Home Equity Line of Credit2 8.500% 8.500%
Closed End Home Equity Loan3 9.500% 9.500%
Home Equity rates effective 12:00 am on Thursday, July 27, 2023
1 APR = Annual Percentage Rate. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. All loans subject to approval.
2 Fees required to open line of credit will range from $250 to $750. This is a variable rate plan, APR may change quarterly. The maximum annual percentage rate that can apply is 18.0% or the maximum permitted by law, whichever is less. However, under no circumstances will your annual percentage rate go below 3.0% at any time during the term of the plan. Must carry insurance on the property. Consult your tax advisor regarding the deductibility of interest and charges.
3 Must carry insurance on the property. Consult your tax advisor regarding the deductibility of interest and charges.

 

Important Term of our Home Equity Line of Credit

 

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