FIGFCU Home Equity Loans and Home Equity Lines of Credit
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Save on Your Loan Rate: Enjoy a special 2% discount when you set up Direct Deposit and automatic payments—simplify your banking and boost your savings!
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Home Equity

As Low As 6.99% APR

While many banks have made getting a Home Equity Loan more challenging—your Credit Union has made it easier with even better rates. We just cut our Home Equity Loan rates to as low as 6.99% APR† when you Direct Deposit.

With a HELOC, you can borrow up to 100% of your home’s equity to help pay for home improvements, education and more. Your loan interest may also be tax deductible.

Subordination Requirements - email or fax your Subordination Request form to 323-209-6736.

Demand for Payoff - email or fax your Demand with Borower Authorization to 323-209-6736 (Turn around time is 24-48 hours).

Disclosures

 

Fixed Rate Home Equity Loans
  • Borrow up to 100% of your Home’s equity (80% LTV for Texas residents)
  • 80/20 for Purchases (with CMF only)
  • Loans up to $750,000
  • Terms up to 240 months
  • Rates as low as 6.99% APR
  • Available on primary residences up to 4 units (only 1 unit in Texas)
  • Available in all states except AL, AK, FL, HI, and LA
  • Manufactured Homes are not available

APPLY TODAY

Home Equity Line of Credit (HELOC)
  • Borrow up to 100% of your Home’s equity
  • Apply for up to $750,000
  • Rates as low as 7.49% APR
  • Available on primary residences up to 4 units
  • 80% LTV Max for Purchases
  • Available in all states except AL, AK, FL, HI, LA, and TX
  • Manufactured Homes are not available

APPLY TODAY

APR = Annual Percentage Rate. APR is the annual rate of interest that is paid on an investment, without taking into account the compounding interest within that year. Rates are subject to change at anytime.

† 2.00% rate discount is for a minimum of $1,000 monthly ACH Direct Deposit into a Farmers Insurance Federal Credit Union Checking Account and Automatic Payment/Folio Deduction as a repayment method to qualify. Rates are subject to change at anytime.

There is a $500 refinance fee for Home Equity Loans booked within the last 12 months, unless $20,000 new cash is added to the loan request.

SEPTEMBER/ OCTOBER 2024 DIRECT DEPOSIT / 2% LOAN DISCOUNT PROMOTION:  Up to 2.00% APR (Annual Percentage Rate) discount on qualifying loan is for a current or newly established minimum of $1,000 monthly Direct Deposit into a Farmers Insurance Federal Credit Union Checking Account and Automatic Payment Deduction as a repayment method to qualify. Offer subject to change or cancellation at any time. Direct Deposit loan rate discount available if at a time prior to loan funding (a) Member has a current or newly established recurring monthly Direct Deposit of at least $1,000 from net pay, pension, or government benefits, and (b) Member is obtaining a FIGFCU loan. Maximum available loan rate discount of 2.00% if Member is eligible to combine Direct Deposit discount with other available discount a maximum of 2.00% shall be applied. If Direct Deposit stops before loan is paid off, loan interest rate will increase by 2.00%. Other restrictions may apply. All loans are subject to credit approval. Rate and terms are subject to change without notice. 

Promotion Offering applies only to Consumer accounts, which must be in good standing. Guardian, rep payee or executor, collections charge-off, business, and/or organizational accounts are ineligible. Must be 18 years of age or older. FIGFCU reserves the right to end or modify this promotion without notice. Member cannot take advantage of this promotion more than once. Promotion cannot be combined with any other account promotion for a discount over 2.00% APR. Visit figfcu.org for account details, minimums, and fees. Federally insured by NCUA. Subject to employer and/or payer terms and conditions. FIGFCU will generally post payroll Direct Deposits on the day they are received, other exceptions may apply. PROMO Period: September 3, 2024, until November 27,2024. (Terms updated 10/10/24). Signature Loans, Business Signature Loans, and Agency Acquisition Loans are not eligible for refinancing.
Available to new and existing Members who apply for eligible loans during the promotional period. Direct Deposit/Folio Direct Deposit into a FIGFCU Checking account (either High Yield or CashBack) in the amount of $1,000.00 or more monthly and Automatic Payment/Folio Deduction to the loan is required. Loan and checking accounts with Direct Deposit must be under Primary Membership. Checking/Direct Deposit can NOT be to a joint Checking account under a different membership. Signature Loans, Business Signature Loans and Agency Acquisition Loans not eligible for refinancing. Refinance Fees are as follows: Vehicle Loans – $200 refinance fee unless $4,000 in new money is added to the loan. Agency/Business Secured Loans – $400 refinance fee unless $10,000 in new money is added to the loan. Home Equity Loans/HELOC’s – $500 refinance fee for loans booked within the last 12 months unless $20,000 new money is added to the loan. Interest rate shown on final loan disclosures will be the higher rate prior to the discount. Loan will be booked with the lower discounted rate. Direct Deposit Addendum will be signed with closing loan disclosures.