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Rates

Let your home shoulder some of the work. Turn that hard-earned equity into cash you can use.

Key Features

  • Competitive Rates
  • Flexible Terms
  • Local Decisions
  • Personal Service
  • Turn home equity into funds for anything
  • Low rates and flexible terms
  • Fixed terms or open lines of credit available
  • A variety of options available:
    • First Line Home Equity Loan
    • Interest-Only Home Equity Loan
    • Choice Equity Loan
  • Refinance and save money
  • Interest may be tax deductible*
  • Competitive rates
  • Flexible terms
  • Affordable monthly payments
  • Fast, easy process
  • Local decisions made in the St. Louis area
  • Prompt responses and personal service

Ready to Apply?

Apply online now! Or call us at (636) 728-3380 or 1-888-642-7969.

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 website

Get a free annual credit report.

*Consult a tax advisor.

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. 

Apply online now! Or call us at (636) 728-3380 or1-888-642-7969

Just in Time for Summer Promotion+

Needing to make some updates to your patio area?  Maybe give your kitchen a facelift?  Apply for a home equity line of credit April 1-June 30, 2019 and take advantage of our 12-month introductory rate of 2.49% APR.  After 12 months the current adjustable rate is 6.24% APR. We also have no closing costs or annual fees with our 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. 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. 

Apply online now! Or call us at (636) 728-3380 or 1-800-767-8880.

*Consult a tax advisor. 

**The First Line Home Equity has a five year draw period with a minimum payment of $100 or principal plus interest, whichever is greater. The amount advanced is amortized over 10 years. Payment due date must be the 15th or last day of the month. The rate is indexed quarterly to the Prime Rate as published in the Wall Street Journal, plus .74%. The first transaction is a minimum $1,000 advance, subsequent advances can be as low as $500. 90% maximum loan to value. The Annual Percentage Rate (APR) is subject to change after consummation. The maximum APR that can apply is 18.00%. Offer of no closing costs does not apply to refinances with First Community. Missouri and Illinois residents only.

***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. Payment due dates must be the 25th of each month. The rate is indexed quarterly to the Prime Rate as published in the Wall Street Journal, plus .74%. The first transaction is a minimum $1,000 advance, subsequent advances can be as low as $500. 90% maximum loan to value. The Annual Percentage Rate (APR) is subject to change after consummation. The maximum APR that can apply is 18.00%. Offer of no closing costs does not apply to refinances with First Community. Missouri and Illinois residents only.

+$1 share deposit required. Must qualify for membership. Shares are Federally Insured by NCUA. Loan subject to credit approval. Must apply between April 1, 2019 and June 30, 2019 to qualify for offer. Rates, terms and conditions subject to change without notice. The Annual Percentage Rate (APR) is subject to change after consummation. Offer of 2.49% APR on First Line Home Equity loan is good for one year after closing date. After introductory period, rate adjusts quarterly to the Prime Rate as published in the Wall Street Journal, plus .74%. That rate is currently 6.24%. The maximum APR that may apply is 18.00%. Minimum first advance of $1,000 on home equity loans. The First Line Home Equity has a five year draw period. Offer does not include refinances on First Community loans. Missouri and Illinois residents only. First Community Credit Union NMLS ID # 684198. Equal Housing Lender. 

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

Please note that this product is for our Missouri and Illinois residents only.