Home Equity Loans in Ohio

Fund that Home Improvement Project, Consolidate Your Debt

home equity loans & lines of credit - BMI Federal Credit Union

A home equity loan is a type of loan in which you are provided a sum of money and use 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 or even help pay for a college education.

Fixed Home Equity Loan

BMI FCU® provides you plenty of choices when it comes to home equity loans(Ohio owner occupied properties only). We offer low fixed rates and terms.

  • Rates as low as 5.500% APR1
  • Plus, no Application Fee 

Home Equity Line of Credit

A Home Equity Line of Credit, often called a HELOC, offers more flexibility. These loans (Ohio owner occupied properties only) can also be used for a wide variety of needs, and are sometimes used as a "rainy day" fund. Our line of credit has a variable rate with all the ease and flexibility you need.

  • Rates as low as 4.500% APR1
  • Plus, no Application Fee
Apply Now           Important terms of our Home Equity line of credit
 

Current Home Equity Loan & Line of Credit Rates

Home Equity Loans in Central Ohio | BMI Federal Credit Union

Product Rate APR1 as low asPrint Home Equity
Home Equity Line of Credit2 4.500% 4.500%
Closed End Home Equity Loan3 5.500% 5.500%
Rates effective 12:01 am on Monday, January 1, 2018
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. Maximum APR is 18.00%. Minimum APR is 3.00%. 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.