Home Equity

Mortgage payments aren't just long-forgotten things of the past. Put them to work for you today with a home equity loan or line of credit from Destinations Credit Union. Whether you're establishing a one-time loan or an open, anytime credit line, we'll help you transition your home's equity into financing for a wide range of other needs.

Take advantage of our competitive rates, repayment terms that always keep your unique situation in mind, and our local, streamlined process. The interest you pay might even be tax deductible — making finally taking your kitchen from mod to modern sound that much better!

Home Equity Loan
  • Competitively low, fixed rates for a wide range of one-time needs:
  • Education expenses
  • Life changes/events
  • Home remodel/renovations
  • And much more!
  • Capitalize on the equity in your home to secure financing
  • $10,000 minimum loan amount
  • Accommodating repayment terms, customized to your unique situation:
  • Terms up to 15 years
  • No points
  • The interest paid might be tax deductible*
  • Set up payroll deduction for easy repayment
  • Local Baltimore-area decision-making and processing
  • Helpful, dedicated service from start to finish

*Consult a tax advisor.

HELOC
  • Competitively low, variable rates for a wide range of ongoing or seasonal needs:*
  • Major home improvements
  • Education expenses
  • Investment opportunities
  • Medical expenses
  • Emergency reserve
  • And much more!
  • Capitalize on the equity in your home to secure financing
  • Accommodating repayment terms, customized to your unique situation
  • Save money with no closing costs or points
  • Funds conveniently available as needed without reapplying for an installation
  • Revolving credit – as the principal is repaid, more is available to re-borrow
  • The interest paid might be tax deductible**
  • Only pay interest on the part that's used
  • Set up payroll deduction for easy repayment
  • Convenience checks are available ($250 minimum to write a check)
  • Local Baltimore-area decision-making and processing
  • Helpful, dedicated service from start to finish

*Interest rates as low as Prime minus 1.00%. Interest rates may be higher depending on credit history. Prime rate is determined using the Wall Street Journal Prime and may be adjusted monthly using the Prime rate 15 days prior to the first day of the month. Rate cannot go below 4.00% APR.

**Consult a tax advisor.