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NOTICE

1. Learn what Democracy FCU is doing to help members and the community: COVID-19 Resource Center.

2. CLICK HERE to schedule your Alexandria or Silver Hill branch visit! Please visit our COVID-19 Resource Center for branch procedures. 

Home Equity Loans

Tap into your home’s equity to get the cash you need. A low-rate home equity loan or line of credit from Democracy FCU is just what you need for home renovations, debt consolidation, and so much more!

Home Equity Loans and Lines of Credit

Home Equity Loans

Are you looking for a one-lump sum to use any way you would like?
Our Home Equity Loan Program is perfect for you!

We Offer: 

  • Borrow up to 85% of your home’s value
  • Loan amounts from $10,000 - $250,000
  • Fixed monthly payments
  • Full and Exterior-Only appraisals available (Exterior-only due to COVID-19)
  • Great for
    • Debt consolidation
    • Home improvements
    • Education funding
    • Extra emergency fund

 CLICK HERE to Schedule Your Home Equity Loan Checkup

Home Equity Lines of Credit

Our home equity line of credit is for you if you’d like to access funds on an ongoing basis.

Apply today and enjoy:

  • Credit Lines from $10,000 to $250,000
  • Perfect for recurring expenses
  • Only pay on the funds you use
  • Borrow up to 85% of your home’s value

Home Equity Line of Credit Information and Disclosure (pdf)

Apply Today

To apply, contact a loan specialist today at 800-742-5582 extension 7063.

Home Equity Loan and Line of Credit Rates

Table data for Home Equity Loan Rates
 Rates effective 10-24-2020
Term Maximum Loan Amount APR (as low as)1 Maximum LTV Monthly Payment per $1,000 Estimate Your Payment Alert Me
5 years $250,000 4.50% 85% $18.64 Estimate Your Payment
7 years $250,000 5.00% 85% $14.13 Estimate Your Payment
10 years $250,000 5.50% 85% $10.85 Estimate Your Payment
15 years $250,000 6.50% 85% $8.71 Estimate Your Payment
10 years $250,000 4.50% 80% $10.36 Estimate Your Payment
15 years $250,000 5.00% 80% $7.91 Estimate Your Payment
Properties must be owner occupied. Other restrictions apply. (See Product Overview for full details.

)
  • 1APR = Annual Percentage Rate. The maximum APR that can be imposed in a variable rate plan is 18.00%.

    Monthly loan payment is 1.5% of the balance borrowed. Estimated closing costs are $1,900.00. Closing costs paid by Lender. If the loan is paid off within 36 months (three years), the member will be required to reimburse Democracy Federal Credit Union for closing costs paid on the member’s behalf.

    No application fee. Subject to credit and collateral approval. Property insurance is required at the time the loan is opened.

Table data for Home Equity Line of Credit Rates
 Rates effective 10-24-2020
Maximum Line Amount APR (as low as)1 Payment Maximum LTV Alert Me
$250,000 Variable APR of Wall Street Prime 3.25% as printed in the Wall Street Journal on the last business day of the previous quarter. 1.50% of the outstanding balance on the last day of each month. 85%
Properties must be owner occupied. Other restrictions apply. (See Product Overview for full details.)
  • 1APR = Annual Percentage Rate. The maximum APR that can be imposed in a variable rate plan is 18.00%. Variable APR of Wall Street Prime is set to 3.25% as printed in the Wall Street Journal on the last business day of the previous quarter.

    Monthly loan payment is 1.5% of the balance borrowed. Estimated closing costs are $1,900.00. Closing costs paid by Lender. If the loan is paid off within 36 months (three years), the member will be required to reimburse Democracy Federal Credit Union for closing costs paid on the member’s behalf.

    No application fee. Subject to credit and collateral approval. Property insurance is required at the time the loan is opened.

Estimate Your Home Equity Loan Payment