Unlock your equity

Fixed-Rate Home Equity Loan

A fixed-rate home equity loan, sometimes called a second mortgage, lets you borrow a lump sum using the equity in your home, with predictable monthly payments and a fixed interest rate.

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Tap into your home’s built-up equity

A home equity loan can be a smart option when you need a large amount of money at a competitive rate.

Home equity loans are ideal when you know exactly how much you need to borrow, whether for home improvements, debt consolidation, education expenses, or other major financial goals.

Fixed interest rate that stays the same for the life of your loan
A range of terms and repayment options to choose from
No annual fees
No prepayment penalties
No origination fees

Need more flexibility? A home equity line of credit (HELOC) offers ongoing access to cash when you need it.

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Common reasons to use home equity

Borrowing from your home can help you pay for big moments and goals. Not sure what’s right for you? Talk to our team and we’ll help explain your options.

Home renovations and repairs

Put money back into your home to make your space perfect.

Debt consolidation

Pay off higher rate debt and get your finances under control.

Major purchases

Explore home equity for a vehicle purchase or other big expense.

Tuition or education expenses

Pay for college, graduate degrees, skilled trades and more.

Emergency expenses

For a major unplanned expense, your home equity could help.

Large planned projects

Cover major life plans, such as a wedding or starting a business.

More home equity options

Home equity line of credit (HELOC)

A HELOC offers flexible access to funds as needed during a draw period, with variable repayment based on what you borrow. If you want flexibility and ongoing access to cash, a HELOC may fit better.

Learn About HELOCs

Cash-out refinancing

A cash-out refinance lets you trade in your current mortgage for a new one with a higher loan balance, and you get the difference paid to you in cash. It's often a smart choice if you can lower your interest rate at the same time.

Explore Refinancing

What our members say

Best rates

"Before joining Firemen's, we had several accounts at several banks. Firemen's allowed us to move all of our accounts to one place. We also have purchased two vehicles through the credit union. They really went above and beyond to assure that we got the best rates. We are truly happy with our Firemen's!"

- Walter A.

Help during tough times

"I was going through a rough time and was unsure of how I would be able to afford Christmas, much less the regular bills I had coming in. Firemen's truly work with you to fit your needs and make it a fast process. I will definitely be keeping them in mind for future financial needs. I love this credit union. I was able to get over the little 'bump in the road' I had with ease, and I am truly grateful."

- Stacey T.

Best credit union

"This credit union has by far been the best one I have had. I've had several in my life time, but this one works with you and helps you. They find ways to help your credit and give you loans when other places will not. I love that they value their customers before anything. I strongly recommend them to anyone. "

- Jeffery S.

Home Equity Loan FAQs

Home equity is the difference between what your home is worth and what you still owe on your mortgage. As you pay down your loan, make home improvements, and your property value rises, your equity increases.

A home equity loan can help you access a lump sum of money at a lower rate than many other loan types. It’s a good option for large expenses like home improvements or consolidating debt, but, like any loan, it’s important to have a good reason for borrowing and a plan for how you’ll pay it off.

A home equity loan often has lower rates because it’s secured by your home, while a personal loan is unsecured and may have higher rates but faster approval. The right choice depends on your goals and comfort level.

Most home equity loans have a fixed interest rate, so your payment stays the same over time. This makes it easier to plan and budget. A home equity line of credit (HELOC) tends to have a variable rate that can change with the market.

In some cases, interest may be tax deductible if the loan is used for home improvements. It’s best to check with a tax advisor to understand what applies to you.