Fixed-Rate Home Equity Loans
One large advance for whatever you need
- Apply Now
One advance for one purpose
- Fixed rate and term
- Equal monthly payments
- No points, no closing costs
- Borrow up to 90% of your home's value minus your first mortgage*
- Borrow up to 20 years
Read Why Home Equity Loans to learn why home equity loans are a good option to finance the major purchases of your life.
* Up to 80% outside of Massachusetts and New Hampshire. Other restrictions may apply.
Please refer to Details and Rates tabs for additional information and important disclosures.
"You guys are awesome to work with"
Thank you very much for working with me during the application process for my Equity Loan. You were very quick, friendly, professional and a pleasure to do business with as usual.
— Pat, Middleton, MA
DCU Fixed-Rate Home Equity Installment Loans
A Fixed-Rate Home Equity Installment Loan is much like an auto loan in that you get the full amount at the start of the loan and pay it down in equal payments for the term you selected.
DCU's Fixed-Rate Home Equity Loans offer you...
- Low competitive fixed rates Your actual rate is determined by your personal credit history
- Finance up to 90% of your home's value minus your first mortgage. Up to 80% outside Massachusetts and New Hampshire*
- No points, no closing costs**
- Loans from $15,000***
- Borrow up to 20 years A shorter loan term means a lower interest rate. A longer loan term will give you a smaller monthly payment.
- No pre-payment penalties
- Available in all 50 states
* Other restrictions may apply.
** Excludes state mortgage taxes in FL, KS, MD, MN, NY, OK, TN, and VA.
*** Please be aware that current market conditions may limit the amount of financing DCU can provide (examples: low property values, property located in a declining value area).
Home Equity Fixed-Rate Installment Loan Rates
Borrow up to 90% of your home value minus your first mortgage in Massachusetts and New Hampshire 80% in other states.* No points or closing costs.†
|Our Best Rates**|
|Up to 80% of home value***|
|Terms / Features||Rate||APR||Estimated Monthly Payment
|Up to 5 years||4.24%||4.385%||$18.53|
|Up to 10 years||4.49%||4.571%||$10.36|
|Up to 15 years||4.74%||4.800%||$7.77|
|Up to 20 years||5.24%||5.293%||$6.73|
|Up to 90% of home value***|
|Terms / Features||Rate||APR||Estimated Monthly Payment
|Up to 5 years||4.99%||5.162%||$18.87|
|Up to 10 years||5.24%||5.335%||$10.72|
|Up to 15 years||5.49%||5.561%||$8.17|
|Up to 20 years||5.99%||6.052%||$7.16|
Rates are effective .
*Please be aware that current market conditions may limit the amount of financing DCU can provide (examples: low property values, property located in a declining value area).
90% Loan to Value for MA and NH Primary Residence only.
Assumptions: $20,000 Home Equity, MA, Worcester County, 740+ FICO.
State mortgage taxes in FL, KS, MD, MN, NY, OK, TN, and VA.
**Rates are determined by your personal credit history. Our Best Rates are for members with the best credit. Other rates may apply
***Minus the balance of your first mortgage.
Investment Property Home Equity Loans are limited to one loan per member, a $50,000 maximum loan amount and an 1% increase in rate.
APR = Annual Percentage Rate.
Please refer to the Features and Details tabs for more information.
Are there any prepayment penalties with your home equity loans?
Home Equity Loan - How is current value of home determined? That is, is it re-appraised or tax records or other? Thank you.
Are there any closing costs associated with your home equity loans?
Is each new draw against the Home Equity Line tracked separately?
If I own my home outright can I get a home equity loan?
"Great customer service"
Getting an equity loan these days is difficult because of all the extra requirements. I interacted with many people at DCU during the course of getting a loan. Every one of them was knowledgeable, courteous and not once did they drop the ball. I highly recommend.
— 1HappyCustomer, Arlington, MA
I spoke to several loan officers during the process and every one was so willing to help and answer any question I had about my loan. My wife and I felt very comfortable with the way everything was handled and hope to do more business with you in the future.
— MOE, Derry, NH
Home Equity Loan Resources
- Loan Payment Method Authorization (.pdf format) Use to have DCU set up electronic loan payments by transfer from your DCU savings or checking account. Note: you can set this up on your own with Online Banking Automatic Transfers.
- Subordination Disclosure Authorization (.pdf format) Use to request a subordination agreement on a Home Equity Loan.
- Homeowners Insurance from DCU You can count on us for good service, good value, and expert help in choosing the best homeowners or renters insurance solution for you and your family.
Home Equity Loan Related Links
- Loan Calculator – Use these calculators to determine an approximate loan payment based on the loan amount (loan cash), term, and credit history standing. This helps you see if a loan will fit within your budget.
- StreetWise Guide to Credit – StreetWise guide helps you understand how credit works, how to use it responsibly, how to know if you are having difficulty with it, and what to do if you are.
- Calculate Finance Charges – Sometime members have questions about how Finance Charges or Interest on their DCU loan accounts are calculated. This information is designed to make the information in your loan disclosures a little easier to understand.
- Schedule of Fees and Service Charges – Details regarding member benefits that may help you avoid fees.
- Financial Wellness and Recovery – Learn what DCU can do for you if you are now or think you may soon experience a financial setback. The earlier you contact us, the more we can do to help.
- How to Make Your Loan Payment – We make it easy to make your loan payment. Find out more about our convenient payment options.