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Home Equity Loans

Your home is your greatest asset. So put it to work! A home equity loan makes it easy to afford the things you want and need.

Home equity loans offer lower rates than most consumer loans, and the interest may be tax deductible. Whatever your needs may be, our local experts will work with you to make them happen, with quick decisions made right here in St. Louis County.

Click here to see our current rates.


Spring Gladness Promotion*

Get a Home Equity Line-of-Credit at a great rate! Upgrade your kitchen, remodel your outdoor area, finish your basement or use the funds however you please. The possibilities are endless. Best of all there's no closing costs or annual fees! From March 1-May 31, 2017 the introductory fixed rate for the first 12 months is 1.99% APR. After that the rate is adjustable and is currently 4.74% APR. Click on HELOC below to read more about our Home Equity Line-of-Credit.

Home Equity Loans

Apply Now For:

Summary
  • Use funds for any purpose
  • Low rates and flexible terms
  • Fixed terms or open lines of credit available
  • Affordable payments
  • A variety of options available:
  • First Line Home Equity Loan
  • Interest-Only Home Equity Loan
  • Choice Equity Loan
  • Refinance and save money
  • Local decision-making
  • Interest may be tax deductible**

Call (636) 728-3380 or 1-800-767-8880 to apply for your home equity loan, or select the type of home equity that will fit your needs and click on the corresponding button to complete our online application.

**Consult a tax advisor.

The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), requires credit union mortgage loan originators (MLO) and their employing institutions to register with the Nationwide Mortgage Licensing System and Registry (NMLS). Once registered, each MLO is provided a unique identifier from the NMLS. Below is a list of the MLO's employed by First Community Credit Union (NMLS ID # 684198).

See MLO list here.

For more information about the registry, please visit the NMLS at www.nmlsconsumeraccess.org

Free Annual Credit Report


*$1 share deposit required. Must qualify for membership. Equal Housing Lender. Rates, terms and conditions subject to change without notice. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. Must apply between March 1, 2017 and May 31, 2017 to qualify for offer. Offer does not include refinances on First Community loans. Minimum first advance of $1,000 on home equity loans. Offer of 1.99% Annual Percentage Rate on First Line Home Equity Loan is good for one year after closing date. After introductory period, rate adjusts to prime plus .74%. That rate is currently 4.74%. Rate may adjust quarterly. The maximum APR that may apply is 18.00%. First Community Credit Union NMLS ID # 684198. Missouri and Illinois residents only.


Fixed Rate Home Equity Loans

Obtain a Fixed Rate Second Mortgage when you want a fixed payment for the entire loan term.

Choice Equity Loan

Members with some equity in their home may qualify for the Choice Equity Loan. This option lets you borrow from $2,500 to $50,000, at a fixed rate, to finance your larger projects.

Home Equity Loan Calculator (figure your own payments)

Call (636) 728-3330 or 1-800-905-7585 to apply for your home equity loan, or select the type of home equity that will fit your needs and click on the corresponding button to complete our online application.

*Consult a tax advisor.


HELOC

A home equity line of credit (HELOC) lets you access the equity built in your home when you need it, rather than all at once like with a traditional, fixed rate loan. This gives you flexibility to access funds on a need basis, and you can re-use without having to re-apply.

The cash is yours to use for any purpose, and interest may be tax deductible.* Ask your First Community loan specialists about this excellent financing option.

We offer Interest Only for the absolute lowest monthly payment or Fully Amortizing to help you reduce your principal balance each month.

First Line Home Equity Loan

Our First Line home equity loan is tied to prime rate and available to Missouri and Illinois residents. Take advantage of this open line-of-credit loan with no closing costs and pricing that can be lower if you own your home. The minimum credit line is only $5,000. Access your home equity line anytime and take up to 10 years to pay. Financing up to 90% LTV available.

Interest-Only Home Equity Loan*

A home equity line of credit is great to have for whatever life throws at you. But, if you want the lowest possible monthly payment, a First Line Interest-Only Home Equity Line of Credit gives you even greater flexibility. Take advantage of these open line-of-credit loans with no closing costs and pay only the monthly accrued interest for the first five years with the option to pay as much principal as you would like.

Home Equity Loan Calculator (figure your own payments)

Call (636) 728-3330 or 1-800-905-7585 to apply for your home equity loan, or select the type of home equity that will fit your needs and click on the corresponding button to complete our online application.

*Consult a tax advisor.

First Line home equity rate is indexed quarterly to the Prime Rate as published in the Wall Street Journal, plus .74%. This rate will affect the actual annual percentage rate. Offer does not include refinances on First Community loans. The first transaction is a minimum $1,000 advance, subsequent advances can be as low as $500. Loan subject to credit approval. The Annual Percentage Rate (APR) is subject to change quarterly. The maximum APR that can apply is 18.00%.

The First Line Interest-Only Home Equity Loan has a five-year draw period with a minimum payment due of monthly interest accrued. Minimum payments will not repay principal. After the draw period we will recalculate the payment based on the current balance, current interest rate and 120 month repayment. Available to Missouri and Illinois residents only. Payment due dates must be the 15th or 30th of each month. First Line Home Equity rate is indexed quarterly to the Prime Rate as published in the Wall Street Journal, plus .74%. Rate is currently 4.74% APR. The first transaction is a minimum $1,000 advance, subsequent advances can be as low as $500. 90% maximum loan to value. Loan subject to credit approval. The Annual Percentage Rate (APR) is subject to change quarterly. The maximum APR that can apply is 18.00%. Offer of no closing costs does not apply to refinances with First Community. Interest may be tax deductible. $1 share deposit required. Must qualify for membership. Federally insured by NCUA. Equal Housing Lender.


Home Improvement

Are you ready for a landscaping project or to build on a new room? Turn it into something beautiful and lasting with LITTLE to NO EQUITY in your home.


With our Home Improvement Home Equity you'll enjoy these features:

  • Low Fixed Rate
  • 100% Loan to Value
  • Closed End Loan
  • Maximum Loan Amount is $25,000
  • 120 Month Term


Click here to learn about special, members only offers through local landscaping companies.


This product is for our Missouri and Illinois residents only.