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Farmers Insurance Federal Credit Union

Routing Number: 322077795

front of home in neighborhood

Non-Owner Occupied Home Equity

As Low As 7.74% APR

Introducing Non-Owner Occupied Home Equity Loans!
Now you can afford to renovate your vacation or rental property, adding value and comfort with more affordable financing. Rates as low as 7.74% APR* for qualifying borrowers who enroll in Direct Deposit and Auto Pay.

Available only for Rental Properties, Second Homes and Vacation Homes.

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

Demand for Payoff: email or fax your Demand with Borrower Authorization to 323-209-6736 (Turnaround time is 24-48 hours).

Disclosures

Non-Owner Equity Loan
  • Required 6 months’ worth of cash reserves on deposit with the Credit Union at the time of funding
  • Borrow up to 75% of your Home’s equity
  • Minimum FICO 720
  • Loans up to $350,000
  • Terms up to 180 months
  • Rates as low as 7.99% APR for qualifying borrowers who enroll in Direct Deposit and Auto Pay (If you do not enroll, rates as low as 8.99% APR)
  • No prepayment penalty
  • Rental properties, Second home and Vacation homes only
  • Available in all states except AL, AK, FL, HI, and LA
  • Manufactured Homes are not available

APPLY TODAY

Non-Owner HELOC
  • Required 6 months’ worth of cash reserves on deposit with the Credit Union at the time of funding
  • Borrow up to 75% of your Home’s equity
  • Minimum FICO 720
  • Apply for up to $350,000
  • Variable rates as low as  7.74%  APR for qualifying borrowers who enroll in Direct Deposit and Auto Pay (If you do not enroll, rates as low as 8.74% APR)
  • No prepayment penalty
  • Rental properties, Second home and Vacation homes only
  • 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 cost of credit expressed as a yearly rate. “As low as” APRs are available to qualified applicants; your actual APR may vary based on creditworthiness, loan-to-value (LTV), underwriting factors, and product type. Rates/APRs are subject to change at any time. Home equity loans and home equity lines of credit are secured by your home.

HELOC APR is variable and may increase or decrease after account opening. The variable APR is based on the Wall Street Journal Prime Rate (the “Index”) plus a margin. The margin is determined at account opening. As the Index changes, your APR may change. The APR is subject to change with changes in the index and will apply until the next rate adjustment in accordance with the Home Equity Agreement. Rate adjustments are capped at 2.00% per year. Maximum APR is 18.00%. Closing costs are paid by the member; third-party fees (such as appraisal, title, recording, and other closing costs) may apply and vary—an estimate is available upon request. Property insurance may be required. Additional refinance or property-related fees may apply where stated. Terms and conditions apply. No prepayment penalty.

1.00% rate discount requires a minimum of $1,000 monthly ACH Direct Deposit or Agent Net Check into a Credit Union Checking Account and Automatic Payment/Folio Deduction as the repayment method to qualify.

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.

Farmers Insurance Federal Credit Union: NMLS# 408877. 

Interest may also be tax deductible. The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. Consult a tax adviser for further information regarding the deductibility of interest and charges.

Subordination Requirements: Email or fax your Subordination Request form to 866-357-3985.

Demand for Payoff: Email or fax your Demand with Borrower Authorization to 866-357-3985 (Turnaround time is 24-48 hours).

Non-Owner Occupied Equity Loans— The advertised loan is a 15 year Fixed Rate Loan with a 15 year fully amortizing term. The interest rate is 8.99% for 180 months. The disclosed APR is 8.99%. Example on a loan amount of $150,000.00 the monthly principal and interest payment would be approximately $1,521.00 for 180 months. Loan Requirements: 1) Minimum FICO 720, 2) Maximum Combined Loan-To-Value of 75%, 3) 6 months’ worth of cash reserves on deposit with FIGFCU at the time of funding, 4) Maximum Debt-To-Income 50%, 5) Maximum term 180 months, 6) Direct Deposit Discount available. Non-Owner Occupied: Rental Properties, Second Home and Vacation homes only. Loans are subject to Credit Approval and verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Rates and Terms are effective 07/16/2025 and are subject to change without notice.

Membership eligibility required.