Put the equity to work in your home for you
FedFinancial offers refreshingly straight-forward home equity loans and lines of credit on primary residences in Maryland, Virginia, DC, West Virginia, and Pennsylvania up to 90% LTV.
Fixed Rated Home Equity Loan
A Fixed Rate Home Equity may be the right choice for you if you need to fund a large purchase such as a home improvement project, pay off other loans and credit cards to consolidate debt and lower payments, and much more. You will get a very competitive rate that is fixed for the life of the loan.
- Up to 15-year loan term
- Minimum Loan of $10,000
- Maximum Loan of $200,000
- Typical Closing Costs Are Between $1,300 – $3,500
| Loan to Value | APR* |
|---|---|
| 15-year term, Up to 90% LTV | 7.580% |
| 7-year term, Up to 90% LTV | 6.080% |
Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit lets you borrow up to a pre-approved spending limit. You can draw on your line of credit whenever you need it – fast. This simple approach to managing your cash flow can give you access up to $200,000 at a very competitive rate, usually within 3 weeks, and is very easy to use.
FedFinancial’s Home Equity Line of Credit is a variable rate, 15-year loan. The rate updates at the beginning of every quarter and is based on the Wall Street Journal Prime Rate with a floor of 2.99% APR and a maximum of 18.00% APR*. You can draw on your home equity for 10 years. Payments will be calculated so that the loan is paid off 15 years from the origination date.
- 10-year Draw Period plus 5-year Repayment Period
- Maximum Annual Percentage Rate of 18.00%
- Minimum Loan of $10,000
- Maximum Loan of $200,000
- Typical Closing Costs Are Between $1,300 - $3,500
| Loan to Value | Rate | Margin | Floor |
|---|---|---|---|
| Less than 90% LTV | 6.990% | WSJ Prime -0.510% | 2.990% |
*APR is Annual Percentage Rate. Rates are subject to change and based on creditworthiness. Other rates may apply. LTV is Loan-to-Value, which is the total of all liens on the home divided by the value.
Your Trusted Lending Partner
FedFinancial Federal Credit Union Mortgage Loan Originators are registered with the Nationwide Mortgage Licensing System (NMLS).
Our Institution ID is 404966.
Chuck Goldston
Director of First Mortgages
NMLS ID# 409371
301-881-5626 ext. 1206
Jonathan Rhodes
President/CEO
NMLS ID# 2014630
Carlton Brooks
Director of Lending
NMLS ID# 1867190
Heather Gray
Director of Compliance
NMLS ID# 433750
Authrene Hutchinson
Teller Supervisor
NMLS ID# 1271418
Naomi Lloyd
Member Service Specialist
NMLS ID# 2542884
Tia Davis
Member Service Supervisor
NMLS ID# 1611311
Nelson Briceno
Director of Operations and Systems
NMLS ID# 185667
