Using your home equity is a financially smart and cost-effective way to pay for the changes you want to make. Although you can use the money for anything, here's how our members prefer to use their cash:
Tap into your home equity with a HELOC from CCCU.
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Both a HELOC and a Home Equity Loan use your home's equity as collateral. While a Home Equity Loan is a fixed-term loan that involves a single disbursement of funds, a HELOC is a revolving, variable line of credit that makes funds available for withdrawal and repayment over a set period of time.
Yes, you can refinance your existing HELOC with CCCU. If you have a HELOC at another institution, contact us. In many cases, we’re able to offer a lower interest rate and could save you money.
No, you do not have to be a member to apply for a loan with CCCU. However, any borrower on the loan will have to become a member before it is funded.
You don’t need any documents to apply for a HELOC, but you will need to gather the following to complete your loan: