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, 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.
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
Bryan Eichenbaum | #1447517, Marylou Denzler | #449095, Paul M Fox | #449146, Angela D Poe-Mason | #449073, Amanda Michalczyk | #527975, Matt Lista | #449176, Nicole Zieminski | #925529, Daniel DiMartini | #1180834, Arlene Calamaya | #800200
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