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
If you have built up equity in your home, you can 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 |
Learn
Learn
What is a Home Equity Loan?
01.02.19
As part of a 2-part blog series, and 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.
To get started, let’s review the following brief overview that explains what is a home equity loan—including how to use it, the benefits, and how to a secure a home equity loan.
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
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
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