Home Equity
Create limitless possibilities with a Home Equity from SkyPoint Federal Credit Union.
Apply nowCheck status
A full house of features
Tap into your home’s equity without having to worry about hidden fees.
Ensure you get the funds you need to achieve your goals with loan amounts up to $250,000.
Choose from a selection of fixed or variable rates.
Limitless possibilities
Explore our Home Equity options
From dream vacations to updating your kitchen, let your home help pay for it! A Home Equity from SkyPoint is perfect for whatever you have in store.
- Finance up to 100% of your home’s value minus your first mortgage balance
- Loan amounts up to $250,000
- Fixed repayment term up to 15 years
With a Home Equity Line of Credit from SkyPoint, you can turn your home’s equity into extra cash you need. Simply tap into this line whenever you need it!
- Finance up to 100% of your home’s value minus your first mortgage balance
- Loan amounts up to $250,000
- Monthly payments based only on outstanding balance
Home Equity Installment Loan
| Loan-to-value | 5 Year APR* (As low as) | 10 Year APR* (As low as) | 15 Year APR* (As low as) |
|---|---|---|---|
| Up to 80% | 6.25% | 6.75% | 7.25% |
| 81% – 90% | 7.00% | 7.50% | 8.00% |
| 91% – 100% | 8.00% | 8.50% | 9.00% |
Home Equity Line of Credit
| Loan-to-value | APR** (As low as) |
|---|---|
| Up to 80% | 7.00 (Prime – 0.50%) |
| 81% – 90% | 8.00 (Prime + 0.50%) |
| 91% – 100% | 9.00 (Prime + 1.5%) |
Apply in 2 Easy Steps
Get started today
Apply for your Home Equity loan in minutes!
* APR = Annual Percentage Rate. The APR offered for the above loans may be higher than the rate stated based on certain credit worthiness criteria. Rates are dependent on individual qualification and are subject to change at any time without notice. Contact the credit union for full details.
** APR = Annual Percentage Rate. The APR offered for the above loans may be higher than the rate stated based on certain creditworthiness criteria. The APR for all Home Equity Lines of Credit is based on the Prime Rate, as published in the Wall Street Journal, plus a margin based on borrower’s credit rating and the Loan-to-Value. The Prime Rate effective August 1, 2023, is 8.50%. The current floor rate is 3.49% APR. The maximum APR is 18%. SkyPoint Federal Credit Union pays all closing costs on Home Equity Lines of Credit loans, excluding taxes, in exchange for a $10,000 minimum draw at the time of disbursement and a three (3) year minimum period that the loan is open. Total closing costs vary. Rates are dependent on individual qualification and are subject to change at any time without notice. Proof of Homeowner’s Insurance required. Proof of Flood Insurance may be required. Contact the credit union for full details.
1 You may pay certain fees to third parties to open a Home Equity Line of Credit. These fees generally total between $250.00 and $1,000.00. If you ask, we will provide you with an itemization of the fees you will have to pay third parties.
Resources to Help Guide You Through Life
~
Jingle Bills: How to Avoid a Holiday Debt Hangover
The holidays are here, bringing that familiar urge to spend a little extra on the people we love. It’s a good feeling…until the bills arrive.
How to Brace for Rising Home Costs: A Guide for Homeowners and Renters
Have you noticed your insurance bills skyrocketing lately? If so, you’re in good company.
