You worked hard for your home—now let it work for you
Apply for a loan today and see how the equity in your home can be a powerful resource to help fund your dreams.
Overview
Achieve your goals and start living the life you want. A home equity loan is a safe and reliable way to finance your goals while helping you take control of your financial future.
Rates1
View all ratesFixed
As low as APR-
Highlights
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No closing costs2
Most home loans require expensive closing costs. Keep your hard-earned money with no closing costs on certain RCU home equity loans.
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Up to 85% combined loan to value
For primary residence loans, you can qualify to borrow up to 85% of your home's value (including first mortgage balance), and 80% for second home or investment properties.
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Larger primary residence loans
You can receive loans up to $500,000 for primary residences to help you get more funding toward your goals. Amount varies for second homes or investment properties.
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Second and investment property loans
You may be eligible for loans up to $300,000 on second home or investment properties, to get even more funding for your needs.
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And more...
What could you do with your homes' equity?
Home improvements
When you’re short on funds, don’t wait until your house needs serious repair or renovation. A home equity loan can help you finance the repairs and improvements you need.
Debt consolidation
Using a home equity loan with a lower interest rate to consolidate your current debt may help you pay off what you owe easier.
Wedding
One way to make your dream wedding a reality is by using the equity in your home to finance the costs. You deserve to plan the ideal celebration with your lifetime partner.
Education
Did you know that a home equity loan can be used to finance your college education? It’s an excellent way of borrowing money to help you acquire a degree that will benefit your future career.
Investment property
The equity in your home can help you afford another property for investment.
Something else
A home equity loan can be used for a a variety of purposes, so consult with one of our experts today to learn more.
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1
Apply online
Complete an application to begin the loan process.
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Work with us
Partner with one of our mortgage lending experts.
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Use your home equity loan
Get approved and use the loan funds.
Why Choose RCU?
At RCU, we’re passionate about helping our Members improve their lives. If you want a credit union that keeps your unique needs in mind and helps you envision and manage your financial future, the friendly experts at RCU are here for you.
Named one of America’s Best Credit Unions by Newsweek
Recognized by Forbes as one of America’s Best Small Employers 2023
Raina shares how RCU simplified the process of getting a mortgage loan.
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Have a question?
At RCU, we're known for our reliable service, and we'll answer your questions and calls quickly.
With the right loan amount you can achieve more of what's important to you
Apply for a loan today so you can see how leveraging your home's equity can be the key to unlocking opportunities that will make your dreams come true!
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1Rates are effective November 21, 2024. Certain restrictions may apply. Maximum Combined Loan-to-Value (CLTV) for above rates is 85%. Rates and max CLTV assumes property is a single unit, primary residence, non-manufactured home. RCU mortgage loans are available on CA properties only.
2A No Closing Cost option is available for loans up to $200,000. Must have a CLTV of 80% or less, an Automated Valuation Model (AVM) must be available, and a limited title policy must be obtained. A $750 early closure fee applies if the loan is closed within 36 months of the date of the security instrument. Any loan greater than $200,000 requires a full title policy at cost to the borrower in addition to all other loan fees and any loan greater than $400,000 requires a full appraisal at cost to the borrower in addition to all other loan fees. Payment examples provided do not include taxes or insurance, actual amounts may be greater.
3Please consult your tax advisor regarding tax deductibility and tax implications.
All Highlights
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No closing cost option2
On loans up to $200,000, enjoy a no closing cost option to help you save money.
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Up to 85% combined loan-to-value
For primary residence loans, you can qualify for a loan that is worth up to 85% of the home's value, helping you access more funds.
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Low minimum loan requirement
Take a loan of as little as $5,000, so you don't need to borrow more than you need.
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Larger primary residence loans
You can receive loans up to $500,000 for primary residences in order to help you have more financing for your goals.
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Loan may be tax deductible3
Depending on the loan terms, Members may be able to deduct a home equity loan on their taxes.
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Fixed monthly payments
Unlike a home equity line of credit (HELOC), your loan payments won't change each month, making budgeting and paying off your loan easier.
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Receive funds in a lump sum
Receive the funds you need all at one time.
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Flexible terms
Flexibility to choose a term of 5, 10, or 15 years to allow you to choose the best term possible for your goals.
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Second and investment property loans
You may be eligible for loans up to $300,000 on second home or investment properties, to get even more funding for your needs.
Resources
Rates
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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