Home Equity Loans
Unlock the Equity in Your Home
Turn Your Home’s Equity Into Opportunity
Whether you are planning major renovations, debt consolidation, education costs, medical expenses, or want some financial flexibility, a Pikes Peak Credit Union Home Equity Loan offers a low-cost, reliable way to tap into your home’s equity.
Why Choose a Home Equity Loan?
- Fixed interest rate and repayment schedule give you predictable monthly payments
- Lump-sum cash at closing – ideal for clearly defined expenses
- Flexible terms (typically 5-20 years) help manage payments that fit your budget
- Potential tax benefits (consult a tax advisor)
Advantages of Working with PPCU
- Local decision-making: Based right here in Colorado Springs & Woodland Park
- Competitive rates and low fees
- Personalized service: Friendly staff who know the local market and can guide you through the process
- We will not sell your loan to another lender
- Low closing costs
Flexible Cash When You Need It – Home Equity Line of Credit (HELOC)
With a HELOC, you get a revolving line of credit secured by your home’s equity. Borrow what you need, when you need it – whether that’s renovation funds, debt consolidation, tuition, or unexpected expenses.
Why Choose a HELOC?
- Pay for only what you use: No need to borrow a lump sum up front
- Lower interest than unsecured credit: Rates tied to the prime rate are generally below credit card or personal loan rates
- Seven-year draw period
- Eight-year amortized repayment period
Is a HELOC Right for You?
- If you need ongoing access to funds over several years
- You are comfortable with variable interest rates
- You want interest-only payments while you use the credit line (Minimum monthly payment required is $100 or the monthly interest due, whichever is greater.)
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