Home Equity Loans
Spending your savings on a major expense doesn’t always make sense.
For some homeowners, a better solution may be found with Dow Credit Union's home equity lending services. A Home Equity Line-of-Credit (HELOC)1 or a Single Advance Home Equity Loan can be used for major purchases, remodeling projects, home repairs, family emergencies, or to pay off a higher-rate debt. Plus, our Single Advance Home Equity loan is eligible for our potential year-end Loan Interest Rebate, which is a part of our nationally recognized Member Giveback.2
Dow Credit Union offers a fast, 10-day conditional approval.3 Most importantly, your loan is serviced locally at Dow Credit Union. Our friendly team of dedicated experts are proud members of the communities we serve. We take immense pride in helping our neighbors find the home of their dreams and achieve financial success.
Our home equity lending products offer loan amounts up to $250,000 and are available on primary and secondary homes located in the state of Michigan.4
- HELOC Annual Percentage Rate (APR) varies monthly based on the Wall Street Journal prime rate - 0.250% in effect on the 25th of the month. The potential maximum rate is 18.00% APR. The potential minimum rate is 3.250% APR. HELOC draw period is 10 years. Other limitations may apply.
- While Member Giveback rebates and rewards occur with great regularity, this credit union benefit is not guaranteed. Not all loan and deposit products are eligible for Member Giveback consideration. Some limitations apply. Learn about Dow Credit Union's national recognition award from the Credit Union National Association.
- Conditional upon completed application and required documentation being provided by the applicant.
- Membership eligibility required. Loans subject to approval based on creditworthiness of applicants and collateral conditions. Limited to developed, non-agricultural, non-income producing homes located within Michigan. Maximum percentage financed: 90% of property valuation. Other loan limitations may apply.
