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Bank on your home's value.

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Home Equity Loans

Firefly CU helps you leverage your home's equity.

Do you have a large project or expense on the horizon? Your home can provide the equity you need for financing, and you can move forward with a quick application and closing process. For home improvements, education expenses, debt consolidation and more, you can benefit financially simply from owning your home.

Compared to banks, members save an average of $526 annually with a Firefly Home Equity Loan.
Learn more about the value of a Firefly membership.

HELOC Introductory Rate

Enjoy a special introductory rate of 2.99% APR for the first 12 months.1

After the intro period,
enjoy rates as low as
4.50% APR.1


Offers are subject to change without notice. 1. Introductory Annual Percentage Rate (APR) of 2.99% for the first 12 months from loan origination date. Offer valid for applications received through 11/14/2020. The APR after the introductory period is variable and is based on the Prime Rate as published the 25th day of the month prior to the date of the interest adjustment as quoted in the Money Rates column of the Wall Street Journal (the index) and adjusted by subtracting up to 0.50% APR or adding up to 3.75% APR (the margin) depending on credit qualifiers and loan to value (LTV) ratio (from when loan originated), but will not be lower than 4.50% APR. As of September 15, 2020, the variable APR for the HELOC4 is 4.50% - 7.00% and is subject to change without notice. The interest rate will not exceed 18.00% APR. The Wall Street Journal Prime on August 25, 2020, was 3.25%. Existing HELOC4 loans can only be refinanced to a lower rate if an additional $15,000 is added to the credit limit. Closing costs vary by state, but typically range from $50 to $1,000 (not including the cost of appraisal, if required). Typical appraisal cost is $495. HELOCs are only available in select states and require proof of homeowners insurance.

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Which Home Equity Loan works best for you?

We'll work with you to figure out if you'd benefit more from a home equity loan or a line of credit.

  Traditional HELOC4 First Equity Home Improvement
Overview Borrow up to your home's equity in one lump sum for any reason. Advance a portion of this Firefly-exclusive line of credit and keep the variable rate or lock in a fixed rate. Borrow equity, even if you own your home, at our most competitive rate. This signature loan is a great option when you need the funds, but don't have the equity. Borrow funds in one lump sum. Contact us for details.
Rates Fixed rate based on loan-to-value up to 90% Based on loan-to-value and dependent on what portion is fixed or variable Fixed rate based on loan-to-value up to 90% Fixed
Optional Payment Protection

Fixed-Rate Home Equity

APR as low as based on LTV
Effective September 15, 2020
Term Up to 80% LTV Monthly Payment Up to 80% LTV Up to 90% LTV Monthly Payment Up to 90% LTV
Up to 5 years 3.99% $18.42 4.95% $18.85
Up to 10 years 4.70% $10.46 6.00% $11.11
Up to 15 years 5.03% $7.93 6.25% $8.58

For loans secured by a first lien (First Equity) on the dwelling, the payment amount does not include amounts for taxes and insurance (if applicable), the actual payment obligation will be greater. Rates are merit-based priced and may be higher depending on credit qualifiers and Loan to Value (LTV). Proof of Homeowners Insurance is required. Monthly payments based on payment per $1,000 for rate shown above and maximum term. Home Equity loans available in select states only. Rates may be higher depending on credit qualifiers, loan term and LTV. Closing costs vary by state, but typically range from $50 to $1,000 (not including the cost of an appraisal, if required). Typical appraisal cost is $495. Equal Housing Lender.


Home Equity Line of Credit (HELOC)

APR as low as based on LTV
Effective September 15, 2020
Term Up to 80% LTV Up to 90% LTV
Varies 4.50% 4.50%

HELOC loans available in select states only. The 4.50% Annual Percentage Rate (APR) is available with qualifying credit and a loan to value (LTV) of 80% or less. Higher rates apply to higher loan to values. The APR will vary based on an index. The index is the Prime Rate as published the 25th day of the month prior to the date of the interest adjustment in the Money Rates column of the Wall Street Journal. The Wall Street Journal Prime on June 25, 2020 was 3.25%. As of September 15, 2020 the variable APR for lines of credit is 4.50% - 7.00%. The rate is subject to change, but will not exceed 18%. The minimum rate is 4.50%. Closing costs typically range from $50 to $1,000 (not including the cost of an appraisal, if required). Typical appraisal cost is $495. There is an over-the-limit charge of $10. For detailed product information, please view the HELOC4 Early Disclosure. Equal Housing Lender.


Home Improvement

APR as low as
Effective September 15, 2020
Term APR
Term varies; ask for details 8.99%

Rates are merit-based and may be higher depending on term selected and credit qualifiers.


All loans subject to normal credit approval. Rates and terms subject to change. Contact a Firefly loan officer for details. All loan rates presented for consumer loans only and not applicable to business loans.

 

Want to know something else?

Make your home work for you.

Great Rates

Great Rates

Save money when you access your equity
View all rates
Borrowing Options

Borrowing Options

Receive a lump sum loan or revolving line of credit
Freedom of Choice

Freedom of Choice

Fixed or variable rates available
Flexibility

Flexibility

Options available even if you don't have equity

Find the right MN Home Equity Loan.

With Firefly CU, you can leverage your home's equity as a loan or line of credit, structured in a way that allows you to maximize its value. No matter what project you have in mind, a Home Equity Loan can be the perfect solution.

Supporting Your Efforts

You make important decisions every day, so sometimes making even one more (especially a financial one) can seem overwhelming. At Firefly, we want to help guide you through those choices so you can be better equipped to decide what’s right for you and your goals. Take a look at some of the resources we have available to you to aid in your financial decision-making process.

Home Equity Loans fixed rates as low as
3.99%APR

Did you know you could use your home's equity for more than just improvement and renovations? Ask for more information today.

First mortgage loans and home equity loans are available in select states. Ask about Payment Protection for your Firefly CU home loans. Closing costs vary by state. Equal Housing Lender.