Get cash from your home
Home Equity Loans and Lines of Credit (HELOC)
Turn built-up equity into cash in your pocket
Firemen’s Federal Credit Union offers two affordable ways to access your equity:
- Home equity line of credit (HELOC) for flexible, ongoing access
- Fixed-rate home equity loan for a lump sum with steady repayments
Want more options? Cash-out refinancing offers another way to tap into your home equity by swapping your current mortgage for a new one with a higher balance – and giving you the difference in cash.
Tap your home equity
How it works
As you pay down your mortgage and your home’s value increases, you could be sitting on a pile of cash. Home equity loans and HELOCs let you borrow that cash without needing to sell your home.
Apply
Compare
Done
Explore your home equity options
There are several ways to borrow from your home equity. Compare your options and see what's right for you. And if you have questions or need help, we're here for you.
Home equity lines of credit
Flexible access to cash, ideal for ongoing projects or to use as an emergency fund.
Explore HELOCsHome equity loans
Get a lump sum of cash and make steady, fixed repayments over a specific term.
Explore Home Equity LoansCash-out refinancing
Cash out some of your equity by getting a new mortgage with a higher balance.
Explore RefinancingWhat our members say
Fast and smooth process
- Camille T.
Affordable loans
- Felicia D.
Best rates
- Walter A.
We're here to help
Home Equity FAQs
A home equity loan allows you to borrow a lump sum using the equity in your home as collateral. You repay the loan with fixed monthly payments over a set term.
A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your home’s equity. You can borrow funds as needed, up to your approved credit limit.
A home equity loan provides a one-time lump sum with fixed payments and a fixed term. A HELOC offers flexible access to funds that you can use when needed, similar to a credit card.
You can use home equity financing for many purposes, including:
- Home improvements
- Debt consolidation
- Emergency expenses
- Major purchases
- Education costs
- Unexpected bills
No. Your existing mortgage remains intact when you take out a home equity loan or HELOC.
Your borrowing amount depends on factors such as your home’s equity, income, credit history, and existing mortgage balance. When you apply, we’ll review your situation and let you know how much you qualify for before you decide anything.
Home equity is the difference between your home’s current market value and the amount you still owe on your mortgage.
A cash-out refinance replaces your current mortgage with a new, larger mortgage and gives you the difference in cash.
With a home equity loan or HELOC, your current mortgage stays in place. A cash-out refinance replaces your existing mortgage entirely.