What is Home Equity?
Your home’s market value – mortgage balance = home equity.
Home equity is the part of your home’s value that you own outright. As you make payments or your property appreciates, your equity grows. The more equity you have, the more you can potentially borrow with a Home Equity Loan or HELOC.
Ways to Use Your Equity
Debt consolidation
Home remodeling
Emergency fund
Education fund
And more!
5.99% APR* for the First 6 Months
Do more with your home’s equity! Take advantage of a special introductory fixed rate of 5.99% APR* for the first 6 months. Whether you’re planning a much-needed home renovation or setting up an emergency fund, ICCU makes it easy and convenient to access the funds you need.
Home Equity Line of Credit (HELOC)
A HELOC is a flexible way to borrow against your home’s equity. With a revolving credit line, you can access funds as needed for expenses like home improvements or debt consolidation. Enjoy low-variable rates and pay interest only on what you use.
Home Equity Loan
A home equity loan lets you borrow a lump sum using the equity in your home as collateral. With fixed rates and steady payments, it’s a smart option for borrowers who need to fund a major project or life moment and prefer stability over flexibility.
*The initial rate of 5.99% will be locked for the first six months of the loan and is only available on new loans. After the six-month introductory period, your rate will be adjusted to the variable Annual Percentage Rate (APR) listed on www.iccu.com/loans/home-equity/home-equity-line-of-credit/#rates and will not exceed 24.00% APR. Variable rate means the rate may change after consummation. Your variable rate and/or term may vary depending on credit history and underwriting criteria. On approved credit. Approval is conditioned on the borrower furnishing sufficient collateral. You must have an existing mortgage in Idaho or Washington. Appraisal may be required at the cost of the applicant. Documentation may be requested to verify underwriting requirements. Equal Housing Lender.
Become a Member
ICCU was designed with one idea in mind, helping members achieve financial success. If you live or work in Idaho, Washington, eastern Oregon, or Arizona, chances are you can become a member of ICCU.
Find Out How