Home Equity Loan

Let your home go to work for you.

The equity value you’ve built in your home could be a great way to finance a new car, home improvement projects or your child’s education. You decide.

Fixed-Rate Home Equity Loan (HEFT)

A fixed-rate loan product that uses the equity in your home to provide a "lump sum" loan amount you pay down with fixed monthly payments over a set period of time. It's ideal for a one-time home improvement project, large expenses or purchases.

HEFT features and benefits:

  • Instant loan decisions
  • Discounted interest rate available when you set up automatic payments from your DFCU checking account
  • No annual fee; no application fee
  • Borrow up to $450,000, or up to 90% of your home’s equity, whichever is less
  • Borrow up to 180 months
  • No pre-payment penalties
  • Earn Cash Back for bringing your loans to us

APR4 Max Fixed Term Max Variable Term Max CLTV
As low as 6.49% APR 60 Months N/A <=80%
As low as 7.24% APR 120 Months N/A <=80%
As low as 8.24% APR 180 Months N/A <=80%
As low as 7.24% APR 60 Months N/A >80% <=90%
As low as 7.99% APR 120 Months N/A >80% <=90%
As low as 8.99% APR 180 Months N/A >80% <=90%

Rates effective as of 4/1/2023

4Home equity loan or line of credit must be secured by a primary Michigan residence or a secondary lien on a Michigan vacation home and must be owner-occupied. Property, title and/or flood insurance, if applicable, are required. APR = Annual Percentage Rate. CLTV = Combined Loan To Value. Fixed-Rate Home Equity Loan: NO Annual Fee. 

Members receive a discount of .25% on the ANNUAL PERCENTAGE RATE (APR) for automatic payment. Applicable fixed rate loans listed above reflect the .25% rate reduction.

NCUA Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.


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*APY = Annual Percentage Yield. Paid and compounded quarterly. Dividend rates are determined by the principal balance when your certificate is opened. Dividend payments will not affect the dividend rate during the term even if the minimum balance for the next tier is met. Rates subject to change without notice at any time. Penalties may apply for early withdrawals. DFCU Financial deposit products are insured by the NCUA.

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While the DFCU Financial Board of Directors intends to pay Cash Back every year, and has done so since 2007, Cash Back is not guaranteed and will depend on our financial performance and other factors. Annual Cash Back payments are limited to an aggregate of $10,000 for each tax-reported owner. The IRS requires that Cash Back for an IRA be paid to the same IRA, and that it be open when Cash Back is deposited. Cash Back to Commercial / Business Banking members is subject to additional terms. Anyone who causes DFCU Financial a loss for any reason is not eligible for Cash Back.