Home Equity Loans and Lines of Creditcouple smiling on the floor with paint supplies

Put Your Home's Equity to Work

 

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.

Right now EARN A $200 CASH BONUS* with a Home Equity Line of Credit!


Home Equity Line of Credit in Ohio

A Home Equity Line of Credit, or HELOC, offers a little more flexibility than a traditional Home Equity Loan. These loans (Ohio owner occupied properties only) can also be used for a wide variety of needs, including as a "rainy day" fund. Our Line of Credit has a variable HELOC rate with all the ease and flexibility you need. Right now you can earn a $200 cash bonus with a BMI FCU HELOC. See below for rules and disclosure.

Fixed Home Equity Loan in Ohio

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

  • Rates as low as 6.500% APR1
  • Plus, no Application Fee 

      

  • HELOC rates as low as 5.500% APR1
  • Plus, no Application Fee
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 5.500% 5.500%
Closed End Home Equity Loan3 6.500% 6.500%
Home Equity rates effective 12:00 am on Sunday, March 31, 2019
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.


Need Help?

We are here to help you every step of the way through the loan process.

  • Check the status of your application online
  • Meet with a Loan Officer at one of our five branches in Dublin, Columbus, or Westerville.
  • Speak to one of our Loan Officers at 614.707.4000

*Mention promo code HE2019. Applications must be received between March 1 and June 30, 2019 with loan disbursed by July 31, 2019. A $200 cash bonus will be deposited into member’s account within 10 days after loan disbursement. Cash bonus may be considered income and reported on 1099 MISC or 1099 INT. Existing BMI FCU loans are not eligible for this offer. Minimum requirements to be eligible for cash bonus: minimum credit limit of $5,000, initial draw of $5,000, and automatic loan payment from a BMI FCU savings or checking account. Fees required to open line of credit will range from $250 to $750. Must carry insurance on the property. Owner occupied properties in Ohio only. This is a variable rate plan, APR may change quarterly. Maximum APR is 18.00%. Minimum APR is 3.00%. APR = Annual Percentage Rate. Rate as of January 31, 2019. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. All loans subject to approval. Membership eligibility requirements apply. Equal Housing Lender.