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Routing & Transit # 272484056

Home Equity Loans

You’ve put a lot of work into your Michigan home, so now’s the time to benefit financially. PFCU offers fixed-rate home equity loans for owner-occupied real estate located in our lending area.

You can use your home equity loan to renovate your home, cover education expenses, pay down high-interest credit cards or finance other important purchases. Check out our home equity loan rates and experience the power of a home equity loan with us.

Apply Online   Home Equity Loan Rates

What to Know About PFCU Home Equity Loans

PFCU issues home equity loans to owner-occupied, 1- to 4-family Michigan homes for up to 85% of the property’s value if PFCU holds the first mortgage. Otherwise, the maximum loan to value (LTV) will be 80% minus any outstanding mortgages.

  • The maximum loan limit is $200,000.
  • An appraisal is required for all Home Equity Loans.
  • Fees may be charged for flood determination, mortgage recording, title search and appraisal, if necessary.

Use a home equity line of credit (HELOC) to unlock the value in your home and fund an unlimited number of projects and activities. Start a remodeling project, buy a new vehicle, consolidate debt, take a vacation or anything else with your PFCU HELOC.  

PFCU offers home equity lines of credit for owner-occupied real estate located in our lending area. The interest rate is variable and tied to the New York Prime Rate. Check out our HELOC rates and experience the benefits of a HELOC with us.

Apply Online   HELOC Rates

What to Know About a PFCU HELOC

A PFCU HELOC is available for owner-occupied, 1- to 4-family Michigan homes for up to 80% of an appraisal. An appraisal is required for all HELOCs.

Once you’re approved for a PFCU HELOC, you can receive advances up to your approved maximum amount. Just call us and authorize a money transfer into a checking account from your HELOC.

What You Need To Apply

  • Most recent pay stubs, SSI award letter or pension statement.
  • Previous 2 year's W-2's or 1099's.
  • If self-employed, most recent 2 years Federal tax returns, (all pages)
  • Proof property taxes are paid and current.
  • Proof of home owners insurance.
  • Copy of current mortgage statement if there is a 1st mortgage.
  • Copy of Warranty Deed

Additional information may be required. Once you have all necessary documentation, apply for your PFCU home equity loan or contact us with any questions.

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