Home Equity Options
Put the equity you’ve built-up in your home to work with a Home Equity loan or line of credit from OU Federal Credit Union! With low closing cost options, great rates and terms, you can use the equity in your home to pay for college tuition, debt consolidation, computers or even a vacation. Our low rates and easy application procedures are also ideal when considering home improvement projects such as a pool, kitchen remodeling, or room additions.
Finance big expenses at a low rate and draw on your line for up to 5 years. With OU Federal Credit Union’s Home Equity Lines of Credit, you’ll also enjoy:
- Only borrow what you need, when you need it!
- 5 year draw, 10 year payback for lines of credit
- 5, 8, and 10 year options for equity loans
- In branch closings
- Minimum monthly payment of 1 & 1/2% of the outstanding balance for lines of credit
- No early repayment penalty
- No attorney needed
- Interest may be tax deductible*
*Please consult your tax advisor on the deductibility of interest.