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Home Equity Loans and Lines of Credit

Use your home's value to finance almost anything

Lanco Federal Credit Union offers both Fixed Rate Home Equity Loans and variable rate Home Equity Lines of Credit. Low-cost Credit Life and Credit Disability Insurance may be purchased on most Lanco loans.

Not sure which type of loan is right for your needs? Give us a call at (717) 569-7180.

Fixed Rate Home Equity Loan

Lanco's fixed rate home equity loan offers a fixed rate for the term of your loan, which also means a fixed payment amount.

Fixed rate home equity loans may be approved for almost any purpose and are great for debt consolidation, educational expenses, and home improvement projects.

Apply Online  |  Current Rates

Home Equity Line of Credit

A Home Equity Line of Credit is a variable rate loan that offers open-ended borrowing for ongoing use. You can take advances from your line of credit quickly and conveniently by transferring funds with Online Banking or Gabby. Monthly payments are based on your loan balance and may be as low as $100.00.

Home Equity Lines of Credit can be approved for almost any purpose and are great for educational expenses, home improvement projects, or to meet other ongoing borrowing needs.

Apply Online  |  Current Rates  |  Billing Error Rights

Insuring Your Loan

Lanco offers our members several types of insurance policies to help with the payment of your Lanco loan should you be in an accident, become disabled or die.

When opening a new loan, talk with your lender to decide if insurance coverage is right for you. If you already have a Lanco loan, it's not too late to add coverage! Call (717) 569-7180 to speak with a lender about your insurance options.

MEMBER'S CHOICE® Credit Life Insurance

With credit life insurance, you'll find comfort in knowing that an emotional tragedy doesn’t have to become a financial hardship for your loved ones. It can help reduce or pay off your outstanding loan balance, up to the policy maximum, if you die before paying off the loan. Credit life insurance is designed to help cover your loan, keeping other life insurance you might have available to help with everyday expenses.

MEMBER'S CHOICE® Credit Disability Insurance

Could you manage financially if your income was reduced or eliminated due to a disabling illness or injury? Credit disability insurance can help. It makes your monthly loan payment, up to the policy maximum, should you become disabled due to a covered illness or injury.

Your purchase of MEMBER'S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Group Policy for a full explanation of the terms.

Insuring Your Home

Members of Lanco Federal Credit Union are eligible to receive discounted home insurance through our partnership with Trustage. Click here to learn more and get a quote.

Pre-approvals for all loans are available and will be held at the specific rate for 30 days. Loans may be paid by monthly payments or through payroll deductions.

To calculate your available equity, see the example below:

Value of Home ($150,000) x LTV (80%) = ($120,000)
($120,000) - Mortgage Balance ($100,000) = Available Equity ($20,000)