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Home Equity Loans

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Home Equity Loans

Make the equity in your home work for you with an American 1 Home Equity Loan. Home equity loans and lines of credit can give you access to money for home improvements, college tuition, vacations, emergencies, or even debt consolidation.+

In addition to providing you with a significant resource of funds and competitive rates, an American 1 home equity loan offers other advantages over competing lenders, including:

Fewer Fees

  • No application fees
  • No title placement/lien placement fee
  • No credit report fee
  • No closing fees
  • No document prep fee

Deductible Interest

A home equity loan is secured by your home so the interest you pay may be fully deductible for federal tax purposes.

Flexibility

You can choose between an easy-access line of credit or a simple closed-end loan.

Convenience

The line of credit is as easy as using a debit card or writing a check. You can request an advance in person, by phone, or online.

APPLY FOR A HOME EQUITY LOAN

Click here for a home equity loan checklist. American 1 does not finance mortgages.


NMLS 410447. For further information on NMLS registration, click here.**

Home Equity Disclosure

*American 1 Credit Union offers both closed-end and open-end home equity loans, both of which are subject to approval. Annual Percentage Rate (APR) for both closed-end and open-end home equity loans are based on credit score and term at time of application. Open-end loans are variable rate and based on prime rate plus margin, as published in the Wall Street Journal on the last day of each calendar month. Margin is as low as -0.5% and prime rate is 3.25% as of May 1, 2022. Variable rates loans have a minimum of 4% and a maximum of 18%. Annual Percentage Rate (APR) for closed-end loans is as low as 7.5% with a maximum APR of 18%. Rates are subject to change. A $500 appraisal fee is required. 
+All loans are subject to approval

**Appraisal or title search may be required

Tax laws are subject to change and individual tax situations vary

Equal Housing Opportunity