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1st MidAmerica Credit Union

Home Equity Loans

Whether you're planning for spring projects around the house, consolidating credit cards and other loans, or facing a major expense, our home equity loans and lines of credit can lower your costs. And many home equity loans over $10,000 do not require closing costs*.

Still have questions?

How does a home equity loan work?

A home equity loan allows you to access a portion of your home's value for other expenses. You can also establish a credit line with the equity, which allows you to access the cash whenever you need it.

What are the advantages?

Affordable payments with terms up to 240 months. Low rates. Possible tax write-offs (consult with your tax advisor for more information).

Does a home equity loan have to be used for home improvements?

No. Your home's equity can be used for debt consolidation, a new pool, a family vacation or college tuition. The possibilities are endless!

*Some exclusions apply and will be reviewed during the application process.

Your savings federally insured to at least $250,000 by the National Credit Union Administration. An additional $250,000 is privately insured by ESI.
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