AVAILABLE only in the state of IOWA.
Borrowing against the equity in your home is an excellent way to get low cost credit and take advantage of available tax deductions on your real estate loan.
You may borrow up to 80% of the equity in your home to fund a remodeling project, a vacation, a vehicle, or any other worthwhile purchase. We offer repayment terms up to 7 years and the interest you pay on the loan may be tax deductible (consult your tax advisor).
Example:
| Assessed value of your home | $75,000 x 80% |
| Equity in your home | $60,000 |
| Less current mortgage | ($45,000) |
| Home equity loan value | $15,000 |
Must be 18 years of age to apply
If you prefer, call the credit union at 641-754-4501.