Fitchburg, MA — Over the course of the repayment of a mortgage, homeowners build equity in their home. This equity is the amount of principal that has been paid on the loan, and reflects how much of the home the homeowner has actually paid for. This equity can become quite large, especially if the homeowner has had the home for a very long time or they have made a large percentage of the total payments on the mortgage. At Iccreditunion, they understand that sometimes homeowners need to be able to access the equity in their homes in order to cover emergencies or to make repairs to the home.
Most consumers will find that a home equity loan from Iccreditunion is the most cost effective way to handle major expenses. The interest rates on home equity loans are as low as 2.85%, much lower than any credit card interest rate, so a home equity loan is a good way to consolidate that debt. Since the interest is tax deductible, homeowners will see a further reduction in the cost of their loan, making a home equity loan even more affordable.
Homeowners who wish to apply for a home equity loan can do so at iccreditunion.org . The application does not take more than a few minutes, and homeowners will get fast action on their request. There will be two options for disbursement. First, the homeowner can take a one time payment up to the total value of the home. This is good for homeowners who need to consolidate debt. Another option is to take a line of credit up to the value of the home. This is best for homeowners who use the money to remodel or repair their home.
Iccreditunion is a leader for home equity loans, and their new low rates and easy application process make them the go to choice for home equity loans. Homeowners can get the money that they need by tapping into the money that they have already paid into their home, and find an inexpensive way to consolidate debt or do a home improvement project.
FOR MORE INFORMATION: Visit http://www.iccreditunion.org/ or call (800) 263-2623.