Home Equity Loans

Home Equity Loans in Indiana

As a Hoosier Home Owner, did you know your home’s equity is a major asset for homeowners across Indiana. As home prices have surged over the last several years, your property's current market value may be higher than you think. This unlocks the opportunity for you to qualify for a home equity loan. A Home Equity Loan is a type of low-interest financing that uses your home as collateral, and is a good way to help you fund your goals more quickly and affordably.

How to Make a Home Equity Loan Work for You

A home equity loan in Indiana can be used for almost anything, including debt consolidation, college tuition, lawn and garden equipment, medical bills, weddings, and more. And because your home’s equity is used as collateral, you could qualify for larger amounts at a lower interest rate than you would find with other options like a credit card or personal loan.

Benefits of Getting a Home Equity Loan in Indiana

There are some advantages to choosing a home equity loan for your next major expense or financial investment. Here are a few:

• Interest may be tax-deductible if funds are used to improve the home.
• Rates are usually lower than credit cards.
• You can achieve your goals faster than saving up each month.
• There are No Start Up fees or Annual Fees when you choose U S Federal Credit Union.

Getting Approved

Applying for a home equity loan from U S Federal Credit Union is simple. Check out our application checklist for all the documents we need for application on our website. Please include details on your outstanding mortgage balance if applicable. This information helps us figure out how much available equity you may qualify for.  

When applying with US Federal, we will be looking at credit scores and your debt-to-income ratio as well for qualification. We calculate your income through pay stubs and/or tax returns to insure you have a monthly payment that is comfortable alongside your other financial commitments.

Our mortgage team here in Indiana is ready to help with any questions you may have, and to help assist you with achieving the perfect home equity loan for you!

Please note we only lend on your primary Indiana residential home. To Qualify to become a member of our Credit Union, we do require that you Live, Work or Worship in Lake or Porter County.  

It's on the house with U S #1364 Federal Credit Union's Mortgage Department! Home Equity Line of Credit rates below prime and no fees.

Please contact us for Great Specials on home equity loans!

It's on the house with U S #1364 Federal Credit Union's Mortgage Department! Home Equity Line of Credit rates below prime and no fees.

Valparaiso Office Mortgage Department

Christine & Valerie 219-548-4600

Home Equity Loan Application Checklist:

• Your 2 most recent pay stubs.
• If you are self-employed or currently own rental property, we will need your last two years Federal tax returns.
• A copy of your Deed, Mortgage, or Title Insurance policy.
• If your home is paid off, we will need a copy of the Satisfaction of Mortgage.
• A copy of your Home Owners Insurance policy.

The following information from the lien holder of your home:

• Lending institution's name and address
• Mortgage account number
• Original amount of loan
• Current balance and monthly payment amount

A list of your outstanding liabilities containing the following:

• Name of institution
• Your current balance and monthly payment amount
• A list of your current assets with the following:
• Name of institution
• Your current balance