Home Equity Loans

When you are ready for that long-planned-for addition, renovation or, if you just want to have a line of credit at your disposal; we are here to help you with your needs.

Be a Latino Community Credit Union member
Proof of employment for the last twelve (12) months (pay stubs and most recent W2)
If self-employed, the most recent two (2) years of signed federal income tax returns (Personal and/or Business)
A minimum of two (2) lines of traditional or alternative** credit active for at least six (6) months
Current in force insurance policy and copy of all the deeds to the property

Low closing costs
Interest on all open-end loans are variable
Advances up to the maximum available loan amount may be made repeatedly throughout the 15-year draw period and there is no need to reapply or record a new deed of trust
Advances may be made through Online Access, Mobile App or by contacting your local branch
Interest paid may be deductable on tax returns if certain requirements are met.*
Access your account online and do much more with our online services. Click here for details

Lien Position (First or Second)	APR	Maximum APR
Owned Free and Clear or First Mortgage is with LCCU	8.25%	18.00%

The Fine Print

The important details

*Check with your tax advisor for specific benefitsand requirements that may apply to you
Maximum CLTV up to 90% based on occupancy and valuation
Combined (CLTV) amount owed on LCCU First ML and home equity line cannot exceed $1,000,000
Manufactured homes are not acceptable collateral. Condos and townhomes may be acceptable
Advances to your credit line cannot continue beyond the 15-year draw period. However, your repayment period would continue as originally scheduled until your remaining balance is paid in full
Home Equity Lines are only available on properties located in NC.