Home Equity Loans

Use your home’s value to finance almost anything

Laughing coupleLanco FCU’s home equity loans and lines of credit offer financing at a great rate for nearly any purpose.

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 FCU’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.

  • Terms of up to 15 years available
  • Rate is determined by borrower qualifications, amount of equity available, and the loan term. Click here for current rates.
  • Loan amount must be $5,000 or greater
  • Maximum loan amount of 80% LTV*
  • Closing costs exist and affect the APR. Speak with a lender for details.

Apply Online for a Fixed Rate Home Equity Loan

Home Equity Line of Credit (HELOC)

A HELOC is a variable rate loan that offers open-ended borrowing for ongoing use. HELOCs can be approved for almost any purpose and are great for educational expenses, home improvement projects, or to meet other ongoing borrowing needs.

You can take advances from your line of credit quickly and conveniently by transferring funds with online banking, mobile banking, Gabby, or writing a check.

  • Rate is determined by borrower qualifications and amount of equity available. Click here for current rates.
  • Loan amount must be $5,000 or greater.
  • 1st payment stream is 10 years, and payments will be interest-only during the draw period.
  • 2nd payment stream is 15 years, and payments will be principal and interest, with a minimum monthly payment of $100.
  • Closing costs exist. Speak with a lender for details.

Apply Online for a Home Equity Line of Credit

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.

*LTV is the loan to value ratio. The option to borrow up to 90% LTV may be available for borrowers with a credit score of 700 or higher. To calculate your available equity, see the following example:
Value of Home ($150,000) x LTV (80%) = ($120,000)
($120,000) – Mortgage Balance ($100,000) = Available Equity ($20,000)

Optional Protection and Insurance for Members

Lanco FCU Debt Protection

Lanco Debt Protection is a voluntary loan-payment protection product that could help you get relief from loan payments if a protected life event unexpectedly happens to you. Simple eligibility requirements help ease the enrollment process. Protected events include loss of life, disability, and involuntary unemployment. Learn more about Lanco FCU Debt Protection.

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.