Home Loans

Thinking of some home improvements, getting a pool, or just need extra cash, consider one of your lowest-cost resources – the equity in your home. With Ontario Shores FCU, we have two options that may work for you.

Home Equity Line of Credit (HELOC)

A Home Equity Line of Credit gives you the flexibility to borrow funds as you need them. The line can be reused as it is paid down, without applying for a new loan. Using your line of credit is as easy as writing a check.

Home Equity Line of Credit offers:

  • Adjustable rate – adjusts quarterly
  • 10 year draw period
  • 15 years to repay after each draw
  • Rates based on Prime +/- a margin and based on credit score*
  • No need to reapply during draw period
  • Tax deductible (Consult your tax advisor)
  • Minimum loan amount $10,000; with subsequent draws of $1,000

The possibilities are endless…

  • Home Improvement
  • Cars or Campers
  • Debt Consolidation
  • Vacation
  • Educational Expenses
  • And More!

Home Equity Fixed Rate/Fixed Amount Loan

A traditional fixed rate home equity loan that provides you the ability to borrow against your home, but offers these features:

  • Fixed rate
  • Terms from 5 to 15 years
  • Rates based on credit score*
  • Tax deductible (Consult your tax advisor)
Ontario Shores FCU