Fixed-Rate Home Equity Loans
- Loan amounts from $5,000 to $1,500,000
- Terms up to 20 years
- Borrow up to 95% of your home’s value
- Fixed monthly payments
- For the homeowner who needs a consistent and manageable monthly payment.
Home Equity Loans
Special Introductory Rate Offer
Renovate your home, consolidate debt, and more with our affordable Home Equity financing with an Introductory Rate of 1.99% APR* for the first 6 months, then as low as 4.24% APR* after that, and No Closing Costs* – it means you can do a lot and not pay a lot. Whether you want to cook up a new kitchen, add a family room, or upgrade your master bath, talk to us today about a home equity line of credit and get the cash you need!
With our affordable home equity financing, you can:
- Borrow up to 95% of your home’s value
- Borrow as little as $10,000
- Enjoy 5–year draw period
Take Advantage of this Offer Now
If you have built up equity in your home, apply now to use that equity to get a loan for home improvements, school tuition, bill consolidation or even a vacation. American Heritage has a variety of Home Equity Loan programs to match your needs and financial status.
Gold Home Equity Line of Credit
- Credit line from $10,000 to $1,500,000
- Borrow up to 95% of your home’s value
- 5-year draw period
- Principal and interest payments (based on a variable rate)
- Minimum withdrawal amount is $1,000
- Enjoy the flexibility to use and repay available funds for a longer draw period.
Platinum Fixed-Rate Home Equity Line of Credit
- Unique Fixed-Rate HELOC
- Gain peace of mind with fixed monthly payments
- Borrow up to 95% of your home's value
- 3-Year Draw Period
- 5-Year, 10-Year, & 15-Year repayment options
- Variety of line of credit amounts starting at $5,000 to $1,500,000
- Payments Won’t Start Until the Line is Utilized
- Fixed monthly payments will help you budget better as you spend and repay funds.
Interest-Only Home Equity Line of Credit
- Credit line from $10,000 to $1,500,000
- Borrow up to 95% of your home’s value
- 3-year draw and interest-only period
- The lowest monthly payments (based on a variable rate)
- Low origination fee
- Minimum withdrawal amount is $1,000
- Only pay interest on the funds you use during the draw period and benefit from lower monthly payments.
Product Comparison Table
| PRODUCT TYPE | LOAN AMOUNT RANGE | DRAW PERIOD | TERM PERIOD | % BORROWED OF HOME VALUE | MINIMUM WITHDRAWAL AMOUNT |
|---|---|---|---|---|---|
| Fixed Rate Home Equity Loans | $5,000-$1,500,000 | n/a | up to 20 yrs | 95% | n/a |
| Gold Home Equity Line of Credit | $10,000-$1,500,000 | 5 yr | n/a | 95% | $1,000 |
| Platinum Fixed-Rate Home Equity Line of Credit | $5,000-$1,500,000 | 3yr | 5, 10, 15 yrs | 95% | n/a |
| Interest-Only Home Equity Line of Credit | $10,000-$1,500,000 | 3yr | n/a | 95% | $1,000 |
For a full list of Home Equity Loans terms and Annual Percentage Rates (APRs) please visit our Rates page here.
Learn
Learn
5 Best Ways to Use the Equity in Your Home
03.05.20
Sometimes, big plans come with a big price tag. Tapping the equity in your home can provide the funds you want, but is this always the smartest way to pay? It all depends on your goals.
Home Improvements: DIY or Pay a Pro?
04.18.19
Most people know, or can learn, how to do some basic home improvements and repairs. But unless you work as a contractor AND have tons of spare time, you probably will not be able to tackle every project yourself. The line between which renovations you can do and which you should pay a professional to do is different for different people, but here are some general guidelines – along with information about the best way to finance your next major home improvements.
Home Renovation Costs: How to be Smart with Your Tax Refund
03.30.19
Whether you receive a large or small refund check this tax season, a check from Uncle Sam is an added bonus to the beginning of spring and new possibilities. One fun way to spend your tax refund check? Home renovations!
Home Equity Loan vs. Home Equity Line of Credit (HELOC)
03.19.19
In an effort to help our members better understand both options, our team is reviewing the differences between a home equity loan and a home equity line of credit — both of which are potential options for those wanting to borrow on their home equity.
13 Tips on How to Decorate Your House on a Budget
03.12.19
Whether you are a first time home buyer or just want to freshen up your current house, decorating a home can be exciting, inspiring, and often times, expensive. The good news is that if you plan ahead and follow some of our budget-friendly tips, you can continue to pinch your pennies and still turn your house into a Pinterest-worthy home.
*Open a new Gold Home Equity Line of Credit (HELOC) between February 1, 2020 and April 30, 2020 and get an introductory rate of 1.99% Annual Percentage Rate (APR) for the first six months. After six months, APR resets to prevailing rates and are subject to change without prior notice. Prevailing rates are updated and posted americanheritageCU.org/Rates. Annual Percentage Rate for the Gold Home Equity Line of Credit Rate is as low as 51 basis points below the highest prime rate as published in the Money Rates Section of the Wall Street Journal in effect on the last business day of each calendar month of each year. Rate cannot fall below 3.74% APR or exceed 14.99% APR. Rates on these products are determined by an evaluation of applicant credit, collateral valuations, length of term and other considerations. Your rate may vary from the rate shown. Promotional rate valid for applications received by 11:59 pm on 4/30/20. Offer not valid on business loans. Homeowners Insurance and Flood Insurance, if applicable is required. Membership eligibility required.
SAFE Act
In compliance with stipulations required under the SAFE Act, American Heritage Federal Credit Union, AMHFCU, is hereby listing the unique identifier information, also known as the NMLS#, for AMHFCU below:
AMHFCU | #433838
Bryan Eichenbaum | #1447517, Marylou Denzler | #449095, Paul M Fox | #449146, Angela D Poe-Mason | #449073, Amanda Michalczyk | #527975, Matt Lista | #449176, Nicole Zieminski | #925529
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