Use the equity in your home for home improvements,
debt consolidation, travel or education.
Fixed Rate Home Equity Loan
- No appraisal, application or title fees
- One low fixed rate for the life of the loan
- Receive the proceeds in one lump sum
- Available in terms up to 30 years
- First or second lien options available
Home Equity Line of Credit
- You’ll receive monthly bills with minimum payments that include principal and interest
- Payments may change based on your balance and interest rate fluctuations, and if you make additional principal payments
- No appraisal, application or title fees
- Revolving Line of Credit
- Fixed rate for the first 12 months
- After the first year, variable rate of 0.51% below prime rate
100% Loan To Value Fixed Rate
Home Equity Loan
- No appraisal, application or title fees
- Fixed rate for the life of the loan
- Repayment terms up to 20 years
- Receive the proceeds in one lump sum
Various documentation will be requested to process your Home Equity Loan Application. Learn more about the requested documents.
Related Products and Services
HOMEOWNERS INSURANCE
Enjoy exclusive member discounts on your homeowners insurance
DEBT PROTECTION
Protect your loan and your loved
ones with Debt Protection
MORTGAGES
Mortgage refinance
options available
| Program | Maximum Term | Annual Percentage Rate (APR)* | Monthly payment per $1,000 borrowed |
|---|---|---|---|
| Home Equity Loan Special | 7 years | 6.99% | $15.09 |
| 10 years | 7.25% | $11.74 | |
*Minimum loan of $10,000 and maximum of $250,000. LTV up to 80%. Rate based on individual creditworthiness and subject to change without notice. 1-4 family owner-occupied properties only. Existing Rhode Island Credit Union loans are eligible with at least $10,000 in new money. Flood insurance may be required. Applicable trust review fees may apply. Other home equity loan programs, rates and terms available. Certain restrictions apply. |
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| Program | Maximum Term | Annual Percentage Rate (APR)* | Monthly payment per $1,000 borrowed |
|---|---|---|---|
| Home Stretch Home Equity Loan | 12 years | 7.00% | $10.28 |
| 22 years | 7.50% | $7.75 | |
| 30 years | 8.00% | $7.34 | |
*Loan requires a first lien equity position. Minimum loan of $10,000 and maximum of $250,000. Rate based on individual creditworthiness and subject to change without notice. 1-4 family owner-occupied properties only. Existing Rhode Island Credit Union loans are eligible with at least $10,000 in new money. Flood insurance may be required. Applicable trust review fees may apply. Other home equity loan programs, rates and terms available. Certain restrictions apply. |
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| Program | Maximum Term | Annual Percentage Rate (APR)* | Monthly payment per $1,000 borrowed |
|---|---|---|---|
| Home Equity Loan | 5 years | 7.50% | $20.04 |
| 10 years | 7.80% | $12.03 | |
| 15 years | 8.10% | $9.61 | |
| 20 years | 8.25% | $8.52 | |
| 25 years | 8.75% | $8.22 | |
| 30 years | 9.00% | $8.05 | |
*Minimum loan of $5,000 and maximum of $250,000. LTV up to 80%. Rate based on individual creditworthiness and subject to change without notice. 1-4 family owner occupied properties only. Existing Rhode Island Credit Union loans are eligible with at least $5,000 in new money. Flood insurance may be required. Applicable trust review fees may apply. Other home equity loan programs, rates and terms available. Certain restrictions apply. |
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| Program | Maximum Term | Annual Percentage Rate (APR)* | Monthly payment per $1,000 borrowed |
|---|---|---|---|
| Home Equity Loan 80% - 100% LTV | 20 years | 9.25% | $9.16 |
*Maximum loan amount is $250,000.00 and maximum CLTV is 100%. Maximum DTI ratio is 45%. Rate is based on individual creditworthiness and is subject to change without notice. Owner occupied Single Family/Condo/Townhouse/Duplex properties only. Flood Insurance may be required. Applicable Trust review fees may apply. Other home equity loan programs, rates & terms available. Certain restrictions apply. |
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| Program | Annual Percentage Rate (APR)* | ||
|---|---|---|---|
| Home Equity Line of Credit | 4.99% | ||
*The Annual Percentage Rate (APR) is 4.99% for the first year of the loan. After the first year, the APR will adjust to .51% below Prime Rate. Prime Rate is 7.50% as listed in The Wall Street Journal as of December 19, 2024. Rate based on individual creditworthiness and subject to change without notice. APR will not exceed 21% or fall below 3.00%. Minimum line of credit is $20,000 and maximum of $250,000. Existing Rhode Island Credit Union loans are eligible with at least a $20,000 line increase. 1-4 family owner-occupied properties only. Flood insurance may be required. Applicable trust review fees may apply. Other home equity loan programs, rates and terms available. Certain restrictions apply. We will pay all of the bona-fide third party fees to open the plan. If you close your home equity line of credit plan within the first three (3) years from the opening date, you agree to reimburse us for any bona-fide third party fees we paid on your behalf. |
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Rhode Island Credit Union NMLS ID: 509121