HOME EQUITY
TURN YOUR HOME EQUITY INTO OPPORTUNITY
With two great options, you can choose the right financing to match your goals and your budget.
UNLOCK YOUR HOME'S BORROWING POWER
At Silver State Schools Credit Union, we know your financial journey is unique. That’s why we offer customizable financing solutions to move your dreams forward. Whether you’re looking to consolidate high interest debt, fund home improvements, or cover major expenses, a Home Equity Line of Credit (HELOC) or Home Equity Loan (HELOAN) can provide the financial flexibility you need.
Not a member yet? Anyone can join and take advantage of these exclusive offers!
FLEXIBLE HOME EQUITY SOLUTIONS
HOME EQUITY LINE OF CREDIT (HELOC)
- Introductory rate as low as1 5.99% APR* for the first 12 months2
- Draw Period: 10 years
- Repayment Period: 11 years
- Fees: None
- Prepayment Penalty: No
HOME EQUITY LOAN
- Fixed rate as low as3 6.99% APR*
- Repayment Period: Customizable terms
- Fees: None
- Prepayment Penalty: No
UNLOCK THE POSSIBILITIES WITH YOUR HOME EQUITY
HOME IMPROVEMENT PROJECTS
DEBT CONSOLIDATION
SIGNIFICANT PURCHASE
EDUCATION EXPENSES/ TUITION
DREAM VACATION
MEDICAL EXPENSES
EMERGENCY FUND
WEDDING
AND SO MUCH MORE!
CHOOSE THE LOAN THAT FITS YOUR GOALS
| HELOC | Home Equity Loan | |
|---|---|---|
| BEST FOR | Ongoing expenses or long-term projects | Large, one-time expenses |
| TERM | Revolving credit, usually with a draw period and repayment period | Fixed term |
| PAYMENT CONSISTENCY | Variable payments, can change with interest rate | Predictable monthly payments |
| INTEREST RATE | Variable | Fixed |
| FLEXIBILITY | More flexible, draw funds as needed (up to the credit limit) | Less flexible, lump sum |
| INTEREST ONLY PAYMENTS | Possible during the draw period | No |
| TAX DEDUCTIBLE INTEREST | Yes, if used for home improvements (consult tax advisor) | Yes, if used for home improvements (consult tax advisor) |
| Apply Now | Apply Now |
EXPLORE OUR ACCOUNT OPTIONS
Advantage Checking
Earn dividends on your checking balance and get access to identity theft protection and credit monitoring, plus discounts, rewards, and more.
MyAccount Checking
Our checking account for students and young adults age 25 and under, with Online and Mobile Banking and a contactless Visa® Debit Card.
SMART Checking
Features a simple and secure Visa® Debit Card for children and teens ages 10 to 17.
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Key strategies to get yourself on the path to financial freedom.
*Annual Percentage Rate (APR). All loans are subject to credit approval, verification, and collateral evaluation. Other terms and conditions may apply, ask for details.
1 Advertised “as low as” APR assumes excellent credit history and 80% Loan-to-Value. Special Rates for up to 90% Loan to Value are also available. The Annual Percentage Rate may vary. All loans are subject to credit approval, verification, and collateral evaluation. Loan requests above $100,000 require an appraisal. The appraisal fee can range between $600 – $750. Rates, terms, and conditions are subject to change without notice and can end at any time. Not valid for refinancing of existing SSSCU 1st and 2nd mortgages. Property Insurance Required. Other restrictions, qualifications, and fees may apply. As of September 30th, the Annual Percentage Rate of 8.00% assumes the use of the “as low as rate” for a loan with 80% Loan-to-Value. The rate may vary quarterly and will be equal to the Prime Rate as published at www.bankrate.com as the WSJ Prime Rate (“Index”), plus the margin. Increases in the Interest Rate will result in like increases in the Finance Charge and will affect the amount of your scheduled payments during the draw period and the repayment period. The maximum APR will not exceed 18.00%.
2 The Introductory Rate will expire twelve (12) months from the open date. Minimum advance or balance transfer of $10,000 required on the day of opening. The minimum amount of subsequent advance is $500.00. Following the expiration of the Introductory APR*, your plan will be subject to a Variable Rate. Subsequent advances/balance transfers not subject to the Introductory Rate will be subject to a Variable Rate and the Annual Percentage Rate can change as a result, as outlined per the terms of the Home Equity Line of Credit Agreement (corresponding to the periodic rate). The interest rate varies depending on your credit qualifications and the Loan-to-Value of your home.
3 Up to 80% loan-to-value financing. Actual rate depends on credit score, term, and amount of loan.
Must be a Silver State Schools Credit Union (SSSCU) member to borrow. Membership at SSSCU requires a savings account with a minimum balance. Mortgage loan origination officers are all licensed through the national Mortgage Licensing System (NMLS). Silver State Schools Credit Union (NMLS #382004) originates mortgage at 630 Trade Center Drive, Las Vegas, NV 89119 and can be contacted at 702.733.8820.
Consult a tax advisor for deductibility of interest.
