BMI Federal Credit Union
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 8.250% APR1
- Plus, no Application Fee
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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 9.250% 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 as |
| Home Equity Line of Credit2 |
8.250% |
8.250% |
| Closed End Home Equity Loan3 |
9.250% |
9.250% |
Home Equity rates effective 12:00 am on Thursday, May 4, 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.
Need Help?
We are here to help you every step of the way through the loan process.