Put Your Home Equity to Work

Home Equity Loan

Best for: Homeowners who need extra cash to cover a large one-time expense like a home improvement project.

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Home Equity Line of Credit

Best for: Homeowners who need extra cash that they can utilize over a period of time.

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Benefits to Choosing GHS

For more than 70 years, we’ve provided our members with quality financial services and affordable rates.

Same Day Pre-Qualification

Fast Closing

Low Interest Rates

Personalized Service

Home Equity Loan vs. HELOC

With a home equity loan you will receive a lump sum payment at closing that equals the entire amount of the loan. You’ll have a fixed interest rate throughout the loan’s term and the interest rate is typically lower than those for credit cards and personal loans. In addition, the interest you pay could be tax deductible.

The key difference between a home equity loan and a home equity line of credit (HELOC) is that instead of receiving your money in one-lump sum you get access to a line of credit. That means you can draw from that line of credit as needed during a specified period of time only paying interest on the amount you withdraw. Unlike home equity loans, HELOCs have variable interest rates that change over time.

What You Can Do With Home Equity

  • Improve or Upgrade Your Home
  • Access Lower Interest Rates
  • Consolidate Debt
  • Pay for Education
  • Cover Emergency Expenses
  • Invest for Retirement

Home Equity Rates

Home Equity Loans

Loan TypeTerm (Approximate)Non-Variable APR*
Rate shown as low as with discount up to .25%***
Home Equity Loans**84 Months5.75%
120 Months6.00%
180 Months6.50%
Home Equity Lines of Credit20-Year Repayment Period/5-Year DrawPlease call for rates.

Home equity financing with added peace of mind.
If you so choose, credit life insurance and credit disability insurance are also available on GHS Home Equity Loans. These policies pay on your loan should you die or become disabled.
*APR = Annual Percentage Rate. Rates are shown “as low as”.
Contact a GHS Federal Credit Union representative by stopping in or call (607) 723-7962 or toll free (800) 732-4447 for the most current rates. The rate and term may vary depending on each individual’s credit history and underwriting factors. All credit union loan rates, terms and conditions are subject to change at any time without notice. Refinancing of existing GHS FCU loans are not eligible. Some restrictions apply. Flood and/or property hazard insurance may be required. Credit Union Membership required with $25 minimum deposit and $1.00 membership fee.