Home Equity Loans

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.

Home Equity

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%

 

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Equity in your home

$60,000

Less current mortgage 

($45,000)

 

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Home equity loan value

$15,000 


Must be 18 years of age to apply

Already a member click HERE to apply for a loan or add a new account and on Monday through Friday during normal business hours we will make every effort to get back to you within 24 hours.

Not a member yet click HERE to apply for a loan or add your account and on Monday through Friday during normal business hours we will make every effort to get back to you within 24 hours. Yes, that is how easy it really is at Lennox Employees Credit Union.

If you prefer, call the credit union at 641-754-4501.