Home Equity Loans & Lines
Anything is possible!
We provide debt protection for unexpected costs or accidents.
Your home's equity could hold the key to financing your big plans
Maybe you're thinking about a home renovation. Or paying for big expenses like a wedding or college education. Perhaps you're ready to put your debt consolidation plan into place. This is the place to start.
Use money for any purpose
Choose to receive your funds all at once
Opt for a flexible line of credit
Select a fixed or variable rate
You have options when you're ready to tap into your home's equity
The money you need to take on your next big project could be right under your roof. And how you access it is up to you, whether it's a lump sum loan or a credit line you can tap into over and over. Explore your options to see which one might work best. Please consult your tax professional, too, because interest might be tax-deductible.1
Home Equity & Improvement Loans
- Borrow up to 90% of your home's equity (LTV¥)
- Loan amounts from $15,000 to $500,000
- Low fixed rate
- Repayment terms up to 15 years
- Borrow up to 100% of your home's equity (LTV¥)
- Loan amounts from $15,000 to $300,000
- Low fixed rate
- Repayment terms up to 20 years
- Borrow up to 100% of your home's equity (LTV¥) for the purpose of purchasing another home
- Loan amounts from $15,000 up to $300,000
- Low fixed rate
- Repayment terms up to 20 years
- Borrow up to 133% of your home's equity (LTV¥)
- Loan amounts from $15,000 to $250,000
- Low fixed rate
- Terms up to 15 years
Home Equity Lines of Credit (HELOCs)
- Line of credit with limits from $15,000 up to $500,000
- Low variable rate
- Borrow up to 90% of your home's equity (LTV¥)
- Interest only payment options
- Easy access to funds using EquityLine checks, Online Banking, or at CommonWealth One locations
- Line of credit with limits from $15,000 up to $300,000
- Low variable rate
- Borrow up to 100% of your home's equity (LTV¥)
- Interest only payment options
- Easy access to funds using EquityLine checks, Online Banking, or at CommonWealth One locations
- Borrow up to 100% of your home's equity (LTV¥) for the purpose of purchasing a home
- Low variable rate
- Line of credit with limits from $15,000 to $300,000
- Interest only payment options
- Easy access to funds using EquityLine checks, Online Banking, or at CommonWealth One locations
Start your path to long-term security with an account that makes it easy to grow your money.
What's Your Journey?
The customer service at CommonWealth One has been exceptional, assisting me with my first car loan. I’ve had a positive experience with both my car and personal loans, enjoying quick service and competitive rates. I feel valued rather than just a customer.
Member since 2021
CommonWealth One Federal Credit Union is a full-service financial institution with branches in Northern Virginia, Maryland and Washington D.C.
¥LTV = Loan-To-Value.
2 Proceeds must be used for home improvements only and documentation of bid/materials list/invoice will be required before loan disbursement.
3 Rates subject to change without notice and varies based on Prime Rate. EquityLine has an interest only payment option available. The Annual Percentage Rate (APR) will adjust to the standard variable rate, currently 8.50% APR for Interest Only Payments Option, after the introductory period and will vary based on prime.
CommonWealth One Federal Credit Union complies with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). A list of our registered originators can be found by searching for CommonWealth One FCU at https://www.nmlsconsumeraccess.org/.
Home Equity Loans and Lines of Credit are available on primary residences located in Virginia, Maryland, North Carolina, Kentucky, Tennessee, West Virginia, and Washington, DC. Members will be obligated to pay the closing costs associated with the closing of a Home Equity Loan or Line of Credit request. Closing costs include credit reports, appraisal fee, flood certification, title search, recording fees and mortgage transfer taxes. If a drive by or a full appraisal is required to support the loan request, this expense will paid by the member. Total closing costs generally range from $100 to $1,000 based on the loan amount. Closing costs can be incorporated and paid with the loan proceeds. Members should retain a copy of the Home Equity Disclosures. Member may receive a refund of any fee(s) if the rate changes and the member decide not to complete the process. Granting of a Home Equity Loan or Line of Credit may result in the credit union acquiring a security interest in the property. Property insurance is required and flood insurance may be required. Certain restrictions apply.