Home Equity Loans

If you own your home, chances are you have equity built up and it may be time to put that equity to work. Make home improvements, consolidate bills, pay college tuition, take a family vacation-the possibilities are endless. And get great rates and a possible tax deduction! (Ask your tax advisor for details.)

Delaware Alliance offers two types of home equity programs:

• Home Equity Lines of Credit (HELOC) which you can draw on as needed
  • Borrow up to $50,000
  • Up to 15 years to repay
  • Borrow up to 90% of the available equity (current market value of your home x 90%, less any outstanding mortgage)
• Traditional closed end second mortgages available up to 10 years if you're more comfortable with a fixed rate and payment
  • Borrow up to $75,000
  • 5-, 7-, or 10-year repayment terms
  • Borrow up to 90% of the available equity in your home

If you qualify for a home equity loan the credit union will pay the appraisal and title search fees, a savings of $400.

Apply now!