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Our Home Equity promotion is back!
Through the end of the month, all new home equity loan product applications are eligible to save $275**
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 $500,000, 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 6/2/2023
**For NEW Home Equity Line of Credit (HELOC) applications, the $50 Annual Fee will be waived for the first year and a $225 discount will be applied to the property appraisal fee. For NEW Fixed-Rate Home Equity Loan (HEFT) applications, a $275 discount will be applied to the property appraisal fee. Discounts apply to NEW home equity loan applications submitted between 6/1 - 7/31/23. Promotion excludes existing DFCU home equity product refinances.
4Home equity loan or line of credit must be secured by a primary Michigan or Florida residence or a secondary lien on a Michigan or Florida 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.