Learn more about the Real Estate Equity Loan
Learn more about the Home Equity Line of Credit
A Real Estate Equity is a fixed rate, closed-end loan with a term of 5 or 10 years. All funds are disbursed when the loan is issued. In addition to primary residences and vacation homes, it can be used for one rental property and land. Some restrictions apply. Payments may be made using monthly coupons or automatic transfer.
A Home Equity Line of Credit has an adjustable rate based on Prime plus a margin. The 10-year open-end draw period is followed by a 20-year repayment period. The five-year open-end draw period is followed by a 10-year repayment on rental properties. The loan payment is always based on a 20-year repayment period and is made through automatic transfer on the 16th of each month.
You have three options:
1. Log into online banking, click on "Move Money," and transfer funds from your line of credit to your desired share.
2. Call the self-service telephone at 800.435.6500.
3. Speak to a Member Service Representative by calling 800.237.7328 Monday through Friday 8 a.m. to 9 p.m., and Saturday, 9 a.m. to 5 p.m. (ET).
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