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What Can DCU Save You?

Fixed-Rate Home Equity Loans

One large advance for whatever you need



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fixed rate home equity

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"

Open quote 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.  Close quote

— 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
per $1,000
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
per $1,000
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.


Fixed-Rate Home Equity Loan is rated 4.6 out of 5 by 400.
Rated 5 out of 5 by from Home Equity Home Equity I had a very low interest rate. I will recommend this to my friends
Date published: 2018-07-16
Rated 5 out of 5 by from Easy process From applying online to submitting everything needed it was an easy process. Even the closing was done at our house so we didn't have to go anywhere. The rates are good, there are a lot of options for payments.
Date published: 2018-07-14
Rated 5 out of 5 by from The best bank for financing for sure! Dcu is on point with processing your loans, this is probably my 6th loan through DCU and they always made it simple and on time. Very professional and keeps you updated all along your loan process. I defiantly reconnmend DCU for all loan types!
Date published: 2018-07-07
Rated 5 out of 5 by from This process was amazing! Working with Cindy and Wanda through my home equity loan was great. Answered all my questions quickly. Process was pain free.
Date published: 2018-07-07
Rated 5 out of 5 by from The online loan application process is outstanding We were very impressed with the online loan application process. The web pages were very intuitive, and the DocuSign review and sign off process of all forms worked out great. The ease of uploading necessary documents to DCU was seamless. Email instructions were precise and questions were replied to in a very timely manner. Online security was very solid. The closing costs were also absorbed by DCU, so we had no out-of-pocket expenses. On closing day the agent was very friendly, organized and professional, which allowed the closing process to be finished in less than one hour! Our Home Equity Loan check arrived on time in the morning on the day promised. Kudos to DCU the outstanding people we interacted with during the application processes and to the team who designed and implemented the online application process.
Date published: 2018-07-03
Rated 5 out of 5 by from Great equity loan experience We liked the equity loan we received because the time it took to apply was reasonable (we had all the necessary info at hand) plus the positive response was very quick and so was the closing. The closing was said to be up to 45 days but happened in 2 weeks. Staff was informative, to the point and friendly as well.
Date published: 2018-06-30
Rated 5 out of 5 by from Excellent Customer Service, DCU is the best Excellent Customer Service, DCU is the best in the industry.
Date published: 2018-06-30
Rated 5 out of 5 by from Exactly what I was looking for. I am very happy with what I found for a home equity loan. The terms we're exactly what I wanted and the rate was competitive with other options ilookI l at. I highly recommend a DCU home equity loan.
Date published: 2018-06-30
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Are there any prepayment penalties with your home equity loans?

Asked by: DCU Member
There are no prepayment penalties!
Answered by: Donna46
Date published: 2017-03-04

Home Equity Loan - How is current value of home determined? That is, is it re-appraised or tax records or other? Thank you.

Asked by: dmb4371
A "Collateral Point" Appraisal. Which in my case meant an appraisal that came in 18% less than a real appraisal I had 9 months ago. Even though prices are rising both in my town and in my neighborhood. If you have a real LTV close to their limits, fully expect a poor result.
Answered by: Unhappy DCU member
Date published: 2017-09-23

Are there any closing costs associated with your home equity loans?

Asked by: DCU Member
I just took fixed home equity loan and there was no other costs.
Answered by: hari
Date published: 2013-10-23

Is each new draw against the Home Equity Line tracked separately?

Example: If I take a $25K draw initially and then a $50K draw a year later, is that second $50K draw's payment figured based on a separate amortization (ex: 15 years) or is it combined with the initial draw and the additional amount amortized only over the remaining period of that initial draw (ex: if there are 14 years left to payback the initial draw then would the combined amount upon the second draw be amortized only over 14 years)?.
Asked by: TomT
you can only have one equity loan pulled at a time . so if u needed more after original equity loan essentially you would need to refinance the loan . Take out new loan to cover first ;loan amount plus what ever else is needed . Of course you can choose your term at that time extend or shorten new loan . Interest rate will be for new loan of course whatever the rate is. You could also choose a revolving equity loan for which you can continue to pull from over the trs again for what ever term you choose , the back draw to this type of loan is not having a fixed interest rate.
Answered by: JA
Date published: 2018-07-07

If I own my home outright can I get a home equity loan?

Asked by: MikeNShirley
As long as your name is on the title, you can get a home equity loan. You may also want to look at home equity lines of credit.
Answered by: Frymd
Date published: 2018-06-30
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"Great customer service"

Open quote 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. Close quote

— 1HappyCustomer, Arlington, MA

Easy Ways To Apply Today

  1. Apply Online – 24 hours a day, 7 days a week.
  2. Apply by phone – 24 hours a day, 7 days a week call 800.328.8797 or 508.263.6700 and press 3.
  3. Any DCU Branch – Visit your local branch.

"Excellent"

Open quote 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. Close quote

— 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 CreditStreetWise 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.