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Last Updated: 04/18/2025

Finex Credit Union Home Equity Loans

from Finex Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

$25,000 - $400,000

Maximum LTV

80%

Loan Term (Years)

1 - 15

Finex Credit Union Home Equity Loans Review

Finex Credit Union Home Equity Loans is offered by Finex Credit Union (NMLS #645503), a credit union founded in 1938 and based in East Hartford, CT. Finex Credit Union Home Equity Loans are available in 50 states and Washington, DC.

Key Takeaways

Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Maximum LTV. Finex Credit Union Home Equity Loans has a maximum loan to value ratio of 80%.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Finex Credit Union Home Equity Loans.

Finex Credit Union Home Equity Loans Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.

Finex Credit Union Home Equity Loans FAQ

How much can you borrow with a Finex Credit Union Home Equity Loans home equity loan?

A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.

Finex Credit Union Home Equity Loans allows borrowers to apply for home equity loans of up to $400,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

What are the home equity loan requirements of Finex Credit Union Home Equity Loans

This lender's maximum loan to value rate is 80%. That means the total debt secured by the property cannot exceed 80% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $60k.

Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.

What fees does Finex Credit Union Home Equity Loans charge for a home equity loan?

Finex Credit Union Home Equity Loans may charge a loan origination fee

What types of property can you use as security for a home equity loan with Finex Credit Union Home Equity Loans?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. Finex Credit Union Home Equity Loans will consider loans secured by the following property types:

Primary home.
Secondary homes and vacation properties.
Investment properties and house flipping projects.

Is Finex Credit Union a legit company?

Finex Credit Union was founded in 1938, it is a well-established company that has been in business for 88 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

616 Burnside Ave

East Hartford, CT 06108

(860) 282-0001

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

8:00AM - 4:30PM

Tuesday

8:00AM - 4:30PM

Wednesday

9:30AM - 4:30PM

Thursday

8:00AM - 6:00PM

Friday

8:00AM - 4:30PM

Saturday

Closed

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SuperMoney Net Recommendation Score

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-1000+100

No one recommends

Everyone recommends

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