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Current Rates
We're proud of our low interest loan rates. Click here to learn more.


Contact Us
Click here to learn our office locations, hours, and phone numbers.

Home Equity/Second Mortgage Loans

Bring It On Home To SLCU! Your home is worth more now than when you purchased it. The difference between this increased value and your present mortgage can represent instant cash for you. 

Your Home Equity Loan is waiting for you at SLCU!
Whatever the reason - home repair, remodeling, tuition, bills, a new car or a vacation - home equity loans are a popular way to borrow. 

Use the equity you've built up in your home to get started on those projects you've been putting off! Remember: Your interest may be tax deductible!

What Are My Options?
There are two types of home equity loans: fixed-rate term loans and lines of credit. Both are sometimes referred to as second mortgages, because they're secured by your property, just like your original mortgage.

A fixed-rate home equity loan is like a car loan, with a one-time payment that is repaid over a fixed amount of time. A home equity line of credit (HELOC) works more like a credit card. Say you have a $10,000 HELOC loan. You borrow $5,000, but then pay back $3,000 toward the principal. You now have $8,000 in available credit. This gives you more flexibility than a fixed-rate home equity loan.

A HELOC is the perfect solution for your on-going home improvements. Just establish your credit line. One phone call to your credit union loan officer and you can draw on your HELOC. It's that easy! Repayments are simple too. An automatic transfer is made each month to HELOC loan. Check out a Home Equity Line of Credit today! 

Check out our Home Equity Loan rates >> 

Home Improvement Loans

If you've got a home improvement project to finish (or start) contact your Loan Officer at SLCU. (A Home Improvement Loan is considered a "non-purchase money loan on our Rates page.)
 

Buying or Selling a Home?

We've combined mortgage loans and a realty service to save you LOTS of money! Click here for details.
 

Contact Our Loan Department

For general loan questions, call Soo Line Credit Union at 952-895-5277 or toll-free at 1-877-634-0020. Or, contact one of our Loan Officers via email at loans@slcu.com.

Please note: for security reasons, please do not send us messages containing personal account information such as account numbers or passwords.  If you need assistance with a specific account, please log in to slcu@home and use the secure email or give us a call.
 

 


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