Home Equity Loans and Lines of Credit

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.
guy with tool belt and to do list

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 home equity loan rates and terms.

  • Rates as low as 6.500% 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.

  • HELOC rates as low as 5.500% APR1
  • Plus, no Application Fee
Important Terms of our Home Equity Line of Credit
 

Not sure what's right for you?

Call us at 614.707.4000 or stop by a branch in Dublin, Columbus, or Westerville!
 

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 3:00 pm on Wednesday, December 19, 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.


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