FedFinancial Federal Credit Union is committed to providing a website that is accessible to the widest possible audience in accordance with ADA standards and guidelines. We are committed to accessibility and usability of our website to everyone. If you are using a screen reader or other auxiliary aid and are having problems using this website, please contact us at 301-881-5626 and we will be happy to assist you. All products and services available on this website are available at our branch and over the phone.

Home Equity Lines of Credit

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 (Annual Percentage Rate) 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. Typical closing costs are $800 - $3,200 depending on the loan amount and property location.

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See How We Compare

Home Equity Lines of Credit rates from various Federal Credit Unions
Institution

APR

Index & Margin

LTV

FedFinancial FCU

2.990%

WSJ Prime - 0.51%

90%

Pentagon FCU

4.750%

WSJ Prime + 1.50%

90%

Navy FCU

4.500%

WSJ Prime + 1.25%

90%

NIH FCU

5.150%

WSJ Prime + 1.65%

90%

Democracy FCU

3.250%

WSJ Prime 

85%

Rates are advertised rates on the institutions' websites as of November 8, 2021 that generally correspond to the LTV Limit of FedFinancial's Home Equity Line of Credit. Other terms and conditions may vary between institutions. FedFinancial FCU requires a credit score of 720 or above to receive the quoted rate along with meeting other underwriting requirements.  Other financial institutions may have different requirements to receive the stated rates. NIH assumes 0.25% discount for automatic payments. APR is Annual Percentage Rate. WSJ Prime is Wall Street Journal Prime Rate.  LTV is Loan-to-Value. 

 

Fixed Rate Home Equity

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.

*APR = Annual Percentage Rate. Rates are subject to change and based on a review of credit history. 
 

FedFinancial Federal Credit Union Mortgage Loan Originators are registered with the Nationwide Mortgage Licensing System. Our Institution ID is 404966. The following Mortgage Loan Originators are also registered.

  • Chuck Goldston, Director of First Mortgages, NMLS ID# 409371
  • Jonathan Rhodes, President/CEO, NMLS 2014630
  • Carlton Brooks, Director of Lending, NMLS 1867190
  • Heather Gray, Director of Compliance, NMLS ID# 433750
  • Authrene Hutchinson, Teller Supervisor, NMLS ID#1271418
  • Stephen Merma, Member Service Specialist, NMLS ID# 1835108

See Our Current Rates