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Last Updated: 04/18/2025

Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage

from Franklin Trust Federal Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

N/A

Maximum LTV

75%

Loan Term (Years)

Up to 15

Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage Review

Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage is offered by Franklin Trust Federal Credit Union , a credit union founded in 1934 and based in Hartford, CT. Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage are available in 50 states and Washington, DC.

Key Takeaways

Only primary residences considered. Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage does not offer financing for vacation homes or investment properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Maximum LTV. Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage has a maximum loan to value ratio of 75%.

Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.

Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage FAQ

What are the home equity loan requirements of Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage

This lender's maximum loan to value rate is 75%. That means the total debt secured by the property cannot exceed 75% 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 $55k.

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

What fees does Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage charge for a home equity loan?

Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage may charge a loan origination fee

What types of property can you use as security for a home equity loan with Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. Franklin Trust FCU Fixed Rate Home Equity Loan or 2nd Mortgage will consider loans secured by the following property types:

Primary home.

Is Franklin Trust Federal Credit Union a legit company?

Franklin Trust Federal Credit Union was founded in 1934, it is a well-established company that has been in business for 92 years.

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

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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

632 Franklin Ave

Hartford, CT 06114

(860) 296-4379

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Email Support

Hours of Operation

SundayClosedMonday7:30AM - 4:30PMTuesday7:30AM - 4:30PMWednesday10:00AM - 1:00PMThursday7:30AM - 5:30PMFriday7:30AM - 4:30PMSaturday9:00AM - 12:00PM

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Other Home Equity Loans from Franklin Trust Federal Credit Union

Franklin Trust FCU Home Equity Loan for Investment Properties or 2nd Homes

Rating not yet determined

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Credit Score Range

N/A

Amount Range

Up to $50K

Maximum LTV

75%

Loan Term (Years)

Up to 12

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SuperMoney Net Recommendation Score

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