|
AVAILABLE
only in the state of IOWA.
Borrowing against the equity in your home
is an excellent way to get low cost credit and take advantage of
available tax deductions on your real estate loan.
You may borrow up to 80% of the equity in
your home to fund a remodeling project, a vacation, a vehicle,
or any other worthwhile purchase. We offer repayment terms up to 7 years and the interest
you pay on the loan may be tax deductible (consult your tax
advisor).
Example:
| Assessed value of your home |
$75,000 |
| |
x 80% |
| |
------------ |
| |
|
| Equity in your
home |
$60,000 |
| Less current
mortgage |
($45,000) |
| |
-------- |
| |
|
| Home equity loan
value |
$15,000 |
Must be 18 years of age to apply
To
apply for a loan at the credit union, click HERE
to go to
our secure Online Banking site,
then
complete the "Loan Application."
If
you prefer, call the credit union at 641-754-4501. |
